Bank of England says will review UK housing programme annually
LONDON, Sept 26
LONDON, Sept 26 (Reuters) - The Bank of England said on Thursday it has been asked by Britain's government to make annual assessments of the "Help to Buy" programme, which seeks to ease access to mortgages and boost the housing market.
The BoE's Financial Policy Committee, which was originally due to advise on the plan after three years, will advise whether a price cap for properties covered by the programme and fees charged to lenders are appropriate, a spokesman for the Bank said.
A second stage of the "Help to Buy" programme is due to begin in January. It will assist buyers who might be unable to afford a down payment on a property. Critics of the scheme have said it risks fuelling an unsustainable rise in house prices.
No one was immediately available for comment at the British Treasury.
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