THE Tories rushed out Help to Buy take up figures yesterday as the Bank of England took action to stem the tide of risky mortgage loans. 

Housing Minister Kris Hopkins revealed 35,000 people have bought houses with the Help to Buy scheme which offers a loan of up to 95 per cent of a mortgage. 

The figures were released to coincide with the bank’s decision that lenders should stop offering loans of more than 15 per cent of a mortgage. 

Bank Governor Mark Carney said history has shown how lending can quickly “turn reckless, creating risks that ultimately derail the UK economy.”

Labour shadow chancellor Ed Balls said: “These measures, while welcome, simply reinforce the fact that it is the Chancellor who has to act to tackle the root cause of our unbalanced housing market.

“We are not building enough homes to match rising demand and responsibility for that lies with the Chancellor, not the Bank of England.”