Liberal Democrats in Business

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ODPM House Prices: Brown Must Tackle Reckless Lending - Cable

12.32.20pm BST (GMT +0100) Mon 14th Jun 2004

Commenting on the ODPM house price index out this morning, Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "Rising lending by banks and building societies is recklessly fuelling the housing boom.

"Large numbers of people are gambling on the house price boom - a gamble they may regret if house prices start to fall or interest rates continue to rise.

"First time buyers are increasingly being priced out of the market, making the house price bubble even more precarious.

"It is time the Government took action to protect ordinary homeowners against irresponsible lending."

ENDS

Note

Today's ODPM house price index showed that the price of a house for a first time buyer was £135,505 in April, up 18.3% on the year.

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[Other news stories from June 2004 (17)]

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Tue 9th Nov 2004:

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Wed 28th Jul 2004:

[Brown Must Tackle Imbalance Towards Borrowing]

Tue 20th Jul 2004:

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Thu 17th Jun 2004:

[Brown Still Failing To Tackle Precarious House Price Bubble]

Wed 12th May 2004:

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Wed 5th May 2004:

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Tue 4th May 2004:

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Thu 29th Apr 2004:

[Homeowners Must Be Protected From Irresponsible Lending - Cable]

Wed 28th Apr 2004:

[Brown Sugar and Sweet Words Not Enough To Tackle Debt]

Mon 19th Apr 2004:

[Irresponsible Lending Fuelling House Price Bubble Says Cable]

Tue 6th Apr 2004:

[House Prices A "Credible Threat" To Our Economy]

Fri 26th Mar 2004:

[Brown Complacent On Economy Says Cable]

Mon 1st Mar 2004:

[Soaring Lending Fuelling Unsustainable Housing Bubble - Cable]

Mon 9th Feb 2004:

[Booming House Prices And Weak Manufacturing Leaves Economy Imbalanced - Cable]

Wed 28th Jan 2004:

[Bank Lending Continues To Fuel House Price Bubble - Cable]

Wed 12th Nov 2003:

[Inflation Report: House Prices Threatening Economy]

Fri 31st Oct 2003:

[House Prices: Rein In Irresponsible Lenders]

Fri 3rd Oct 2003:

[House Prices: Nosedive Warnings Must be Taken Seriously]

Tue 17th Jun 2003:

[MANSION HOUSE SPEECH: BROWN MUST PROVIDE ANSWERS NOT EVASION]

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