Rein in risky mortgages, urges IMF

%VIRTUAL-SkimlinksPromo%The International Monetary Fund (IMF) today called for the UK to take swift action to rein in risky mortgages as it warned soaring house prices posed a risk to the economic recovery.

It called for "targeted and timely" measures to clamp down on high loan-to-income ratio home lending, adding pressure on the Bank of England to act when it issues its latest report on financial stability later this month.