THE majority of those helped by the UK Government’s flagship Help to Buy schemes have been first-time buyers.

The latest data shows that of the 220,000 people who have been able to buy a home using them, some 180,000 were first- time buyers and the average price of a home bought was £191,000.

“Our Help to Buy schemes are helping hundreds of thousands of people, especially first-time buyers, achieve home ownership,” said Chancellor of the Exchequer Philip Hammond.

Although the mortgage guarantee scheme is due to finish at the end of this month, Mr Hammond confirmed that the popular equity loan and ISA schemes will continue to ensure people can access support when buying or saving for a property.

According to housing and planning minister Gavin Barwell, the equity loan scheme, in particular, continues to be hugely successful and has now helped a landmark 100,000 households to own their own home by offering buyers up to 20 per cent of a newly-built home’s cost, so they only need a five per cent deposit.

The mortgage guarantee scheme will end on December 31, as a wide range of 95 per cent mortgage products are now available from commercial lenders, so it is regarded as no longer being needed.

The figures also show that since the launch of the Help to Buy ISA, in December 2015, 27,222 property completions have been supported by the scheme. The highest proportion of property completions with the support of the ISA are in the North-West, Yorkshire and Humber and the South-West.