The number of homes sold under the government's Help to Buy scheme reached a record high in June, according to official figures.
More than 4,700 homes were sold under the equity loan aspect of the scheme in June - more than in any other month since it was launched in April 2013. The other part of the scheme - the mortgage guarantee scheme - is due to end in December 2016.
Since Help to Buy was launched 112,803 homes have been sold under the scheme. And the figures show that the split between each part of the scheme is almost identical. 56,401 homes have been sold under the mortgage guarantee scheme, and 56,402 under the equity loan scheme.
With rising house prices, the coalition government introduced the Help to Buy scheme during the last Parliament to help buying a home more accessible, particularly to first-time buyers. With rising house prices came rising deposits - many mortgage lenders required a 10% deposit, or, in excess of £20,000 based on the average house price in the UK. Instead, Help to Buy only requires a 5% deposit. Since its launch, around 80% of mortgages secured under the Help to Buy scheme have been taken out by first-time buyers.
The equity loan part of the scheme, in which the government takes a 20% stake in the mortgage, has been extended to 2020.