The Bank of England will not ask for changes to the UK government's Help to Buy scheme after finding it does not pose a risk to financial stability and has not driven up house prices.

Bank of England Governor Mark Carney wrote to Chancellor George Osborne to say the £600,000 house price cap under the mortgage guarantee scheme and the fee charged to lenders who use it "remain appropriate". 

Following the first annual review by the Bank's Financial Policy Committee (FPC) of the scheme, designed to help those with small deposits, Mr Carney said it "does not pose material risks to financial stability". 

He added that while there had been steep house price growth, Help to Buy "does not appear to have been a material driver of that growth", with weak take-up in London where rises have been strongest. 

But the FPC also announced that it was asking for new powers to rein in risky mortgage lending which will include the total debt burden facing households and not just the money they owe on home loans. 

Bank of England policymakers also want to be able to order limits on loan-to-value ratios.