His comments came after Chancellor George Osborne MP used the scheme as an example of how the UK economy has "turned a corner" in a speech last week.
Mr Cable, who has previously raised concerns about the scheme, told Sky News that the Government needed to think about how the scheme would work in current changing housing market conditions, stating "we don't want a new housing bubble".
Cable added:
"The kind of growth we want won't simply emerge of its own volition. In fact, I see a number of dangers. One is letting up just because we have had a few quarters of good economic data.
"Recovery will not be fully established until we see strong and sustained business investment."
Treasury sources have clarified that the policy will not be reconsidered, stating that Help to Buy is still "Government policy".
