David Cameron hopes 'Help to Buy' scheme will succeed

Steve Jones was able to purchase a house through the help to buy scheme, which required only a 5% deposit. The government and housing developers loaned 20% of the price, leaving him with a 75% mortgage. Without this scheme, Steve would have struggled to save a deposit and make repayments. Initially, the scheme was for first-time buyers of new builds, but it has since expanded to include any property under £600,000, allowing for a 95% mortgage.

What percentage of the house price did Steve Jones have to pay as a deposit under the Help to Buy scheme?

• 15%

• 5%

• 10%

• 20%

How much of the house price was loaned by the government and housing developers in Steve's case?

• 25%

• 15%

• 10%

• 20%

Without the Help to Buy scheme, how long did Steve estimate it would take to save for a deposit?

• Two years

• Four years

• Three years

• One year

Initially, who was eligible for the Help to Buy scheme?

• Anyone buying a property

• First-time buyers of new builds

• Investors

• People buying second homes

Since October, what is the maximum property price for which one can apply for a 95% mortgage under the Help to Buy scheme?

• £800,000

• £600,000

• £700,000

• £500,000