Bank to supervise housing plans
George Osborne is to give the Bank of England a greater check over the government's Help to Buy scheme to ensure it does not fuel a housing boom. The Bank will make annual reviews, rather than every three years.
Housebuilder shares under pressure over Help to Buy
Shares in housebuilders have fallen after the Treasury announced its review of the Help to Buy scheme.
Persimmon was the top faller in the FTSE 100 index, down four per cent, while the other such as Bovis Homes, Bellway and Barratt Developments also suffered - as well as estate agency Countrywide.
The scheme offering loans and mortgage guarantees to help householders on the property ladder has previously buoyed profits at builders and other firms closely linked to the property market.
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