Scheme encouraged people to buy property now beyond their means, say critics
Despite month after month of falling prices, the housing market has so far avoided the most pessimistic forecasts for a market crash.
Mortgage repossessions are at historically low levels, lenders have stepped in with a raft of measures to ease the pain of higher rates and price falls have so far been gradual.
But the modest price declines mask churn beneath the surface. Homeowners coming to the end of fixed-rate deals are increasingly opting to sell long before they are forced to, seeing the writing on the wall from higher mortgage rates.
First-time buyers who purchased using the Help to Buy equity loan scheme are at the sharp end.