Figures released last week said that almost 4,000 Help to Buy reservations had been made since the scheme’s launch in April, but some brokers have complained of difficulties accessing products linked to government schemes.
Brokers are required to be on the panel of their local HomeBuy agent but 84% said that they had been unable to obtain a place on the panel compared to just 16% who had successfully applied for a place.
Despite the complaints Stewart Baseley, executive chairman at the Home Builders Federation, said that the scheme had been a great success since its introduction.
“It has been an unqualified success so far and 4,000 reservations in just two months shows both the consumer demand for the scheme and developers’ commitment to it.
“The large deposits required in recent years to secure a mortgage have prevented many from buying – and as a result, builders from building.
“The equity loan scheme helps consumers overcome that deposit barrier and as a result the scheme will undoubtedly lead to an increase in house building – already we are seeing companies revise their projected build levels as a direct result of the scheme. This in turn will create jobs and deliver an economic boost.”