The lender said 49% of brokers believed the scheme would lead to problems in the housing market in the long term.
Two-thirds (67%) of brokers also believed that the scheme would provide a short-term boost to the property market.
United Trust Bank director Noel Meredith said the Funding for Lending and Help to Buy schemes had provided an immediate boost to the market but that the latter must be monitored closely.
“There is clearly some uncertainty over how beneficial these schemes will turn out to be over the longer term and what damage could be done by creating an artificial bubble.
“The Help to Buy scheme should, for the time being at least, be unaffected. The ability for people to be able to attain reasonably priced mortgages without having to raise unfeasibly large deposits remains an important factor if the UK wide recovery of the residential property market is to continue.
“This can be done without the Bank of England continuing to pump vast amounts of cheap money into the mortgage market but does require mortgage lenders to maintain their appetite for providing 95% mortgages at competitive interest rates. This means that the government will almost certainly have to continue to provide lenders with mortgage guarantees in the first quarter of 2014 at least.”
