'Don't panic' over house price crash warning

British mortgage lenders today sought to reassure homeowners following a “stark warning” that the risk of a house price crash was increasing.

Tue, 15 Jun, 2004 - 14:19

British mortgage lenders today sought to reassure homeowners following a “stark warning” that the risk of a house price crash was increasing.

The Governor of the Bank of England, Mervyn King, said prices were now “well above what most people would regard as sustainable in the longer term” following 20% rises over the past 12 months.

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