Housing minister Stef Blok has rejected calls by a new government advisory committee to reduce the amount home buyers can borrow to 90% of the value of the property.

The cabinet has already tackled problems in the housing market and ‘I do not see any reason to do more’, Blok told the Financieele Dagblad.

On Thursday, the Financial Stability Committee, which is chaired by central bank president Klaas Knot, called for a reduction in maximum mortgages in order to prevent a re-occurrence of the negative equity crisis.

Home buyers can currently borrow up to 103% of the value of the property to cover essential costs but that is gradually being reduced to 100%.

MPs from across the political spectrum also rejected the committee’s proposal.