BoE warns BTL could trigger housing correction - papers October 24

Kate Barker, one of the Monetary Policy Committee's longest-serving members and an adviser to Gordon Brown on the property market, issued her sternest warning yet on the property market, saying people's expectations for house prices may be due a "major change". However, she said, the credit crunch, which is still pushing up lending costs for both businesses and households, would probably not cause the housing market to turn, suggesting she is not in favour of an emergency cut in interest rates next month. MICHAEL BRIGHT, THE FOUNDER and former chief executive of Independent Insurance, was...