Help to Buy scheme right thing, says RICS

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The governor of the Bank of England, Sir Mervyn King, has expressed concern about the government's Help to Buy plan to revive the housing market.

He said the scheme was "too close for comfort" to a general state guarantee for mortgages.

Under the plan, due to run until 2017, the state will guarantee up to 15% of a mortgage on homes worth up to £600,000.

Peter Bolton King, from the Royal Institute of Chartered Surveyor, backed the government plan to help people get on the property ladder.

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