The Government has announcement that it will bring forward Phase II of the "Help to buy" scheme so that you will be able to apply as early as next week.
Under the scheme, the Government will lend up to 20% of the purchase price of properties either to first time buyers or to people wanting to trade up.
Buyers who can put down a 5% deposit should be able to use this scheme to take a 75% mortgage from their Bank or Building Society and borrow the rest from the scheme.
There is only a limited amount of Government cash for the scheme, and so there is likely to be a rush to get on board quickly. This is bound to have an effect on house prices.