LONDON Oct 17 Concerns over the British
government's 'Help to Buy' mortgage guarantee scheme are valid
but the government is right to pursue the initiative, Royal Bank
of Scotland's retail banking boss told Reuters on
Lloyds Banking Group's Chief Executive Antonio
Horta-Osorio said this week the scheme should be focused outside
London and the south-east of England where house prices are
booming and some bank executives believe the 600,000 pound
($955,800) limit on the scheme should be lowered.
"I think it's always valid to raise those sorts of concerns.
There are always things you need to be careful and wary of," Les
Matheson told Reuters on the sidelines of the British Bankers
Association's annual conference.
RBS, which is 81 percent owned by the government, was one of
the first banks to join up to the scheme and Matheson said it
will enable the bank to help 25,000 customers buy homes.
"I think we feel it's incumbent upon us to be as helpful as
we can both to the British economy and to the government. We
feel that it's something we need to do to help the economy,"