Chancellor George Osborne has confirmed that the Financial Policy Committee (FPC) will be granted powers to place controls on the buy-to-let market.

The Treasury has been due to consult on whether to give the FPC powers over the buy-to-let market.  When asked how the Chancellor’s comments relate to the consultation, he responded that the consultation will consider how the FPC have these powers.

The Intermediary Mortgage Lenders Association executive director believes the Chancellor has jumped the gun before the consultation stating “it suggests a stage of evidence-led policy making has been removed, and that the consultation may be limited to what those powers will be when – rather than if – they are granted."