Norman Lamont concerned about buy-to-let

Former chancellor Lord Lamont has warned ministers to be wary of the growth in the buy-to-let market.

Speaking to The Observer he expressed concern that the bubble of buy-to-let could collapse causing widespread problems.

His concern is around the impact that an inevitable rise in interest rates will have on lenders and buyers.

Lord Lamont, said: "The Bank and the government need to keep a careful eye on the buy-to-let market.

"This is expanding very rapidly at the moment and it was an over-rapid expansion of it before that caused the demise of Bradford & Bingley."

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