New Help to Buy scheme explained
Banks taking part in the government-backed Help to Buy mortgage scheme have unveiled the terms of some of the loans they will offer.
The scheme is aimed at people who can put down only a small deposit on a home.
But a committee of MPs has said ministers have done "little to allay" concerns that it will ultimately lead to higher property prices.
Paul Lewis, from BBC Radio 4's Moneybox programme, told Today presenter Evan Davis: "If there is a loss on the property it is then government that picks up 15% of that loss.
"The government is acting as an insurer."
First broadcast on BBC Radio 4's Today programme on Tuesday 8 October 2013.