Help to Buy: '£600,000 limit is too high'

Chancellor George Osborne has asked the Bank of England to review the government's Help to Buy housing scheme so that it does not fuel a property boom.

The Bank could reduce the existing £600,000 cap so that fewer homes are affected.

Managing Director of Propertychecklist.co.uk Kate Faulkner told the BBC the limit should be reduced: "The level I'd look at would be £300,000... So that would limit the impact at the higher end of properties which are selling quite well anyway."

However she said there was not a danger of a housing bubble as price increases were still behind their long term average, "We've still got six years of awful falls to catch up on".