LONDON (Reuters) - Britain's Help to Buy scheme to broaden access to home ownership is not creating a house price bubble, but needs to be watched carefully in case it does, Bank of England policymaker Ian McCafferty said on Monday.
McCafferty said worries about the housing market needed to be kept in perspective, though the central bank should be very careful that lending to homebuyers did not get out of hand.
"I think we have to be careful that the Help to Buy scheme doesn't stimulate a housing bubble," McCafferty said in an interview with London's LBC radio station.
"I don't think it is at the moment. We talked earlier and said it's only a small proportion of what is going on in the housing market, but we have to be careful that we don't let the housing market run out of control."
(Reporting by David Milliken and Ana Nicolaci da Costa)