If you watch the footage, he did manage to level out, so I don't think it was a wingtip stall, even though he did turn very sharply. It's more likely to have been a compressor stall or flameout, and at that altitude he would not have been able to recover and restart the engine in time.
I suspect he stayed with the aircraft rather than ejecting, due to there being housing on the flight path and that he chose to 'spike' the aircraft into the ground in a field and it went horribly wrong. A truly brave man.
The AAIB will report as to the actual reason for the crash in due course, so these comments above are just my opinion.
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