but borrowers should still watch out for pitfalls when looking for their dream home

It will be ‘Happy Birthday, Help to Buy’ next month as the first phase of the Government’s controversial low deposit mortgage scheme reaches its anniversary. Latest figures suggest that in the past 12 months more than 250,000 first-time buyers are celebrating after using a new loan requiring just a 5 per cent deposit to get on to the housing ladder. But mixed news on fees, rates and freebies means the cheers may be more muted for anyone wanting to buy a home in the scheme’s second year. Here’s the state of play for borrowers hoping to buy this spring.

The fees

Average set-up fees for low deposit loans have more than tripled since the autumn, according to Norwich-based financial researcher Moneyfacts...............Read more here