Help to Buy scheme hits monthly record in June

The number of homes sold under the government's Help to Buy scheme hit a record during the month of June, figures show.

Some 4,745 new homes were sold under the equity loan part of the scheme, the highest total since it began in April 2013.

Since then, a total of 112,803 mortgages have been arranged under Help to Buy.

The majority of sales - 80% - have been made to first-time buyers.

The two parts of the scheme are running neck-and-neck, with 56,401 homes sold under the mortgage guarantee part.

A similar number - 56,402 - have been sold under the equity loan scheme.

The mortgage guarantee scheme - under which the government promises that a mortgage is repaid - is due to end in December 2016.

The equity loan scheme - under which the government takes a stake of up to 20% in the value of a home - has been extended to 2020.

Both schemes enable buyers to put down a deposit of just 5%.