Prime Minister David Cameron says his government’s Help to Buy scheme has helped 6,000 people get a foot on the property ladder, amounting to more than £1bn of home loans.

Mr Cameron said 750 completions had so far taken place following the full roll-out of Help to Buy in October last year.

The Prime Minister said, “The New Year is often a time when people look to make those big life-changing decisions like moving home or taking that first step on the housing ladder.”

“But too many people have found themselves frozen out of the market in recent years as a result of the size of the deposit required.”

However, high profile voices of caution have continued to suggest that Help to Buy may fuel a housing bubble. Alongside some leading property experts and economists, the business secretary Vince Cable has provided a number of these cautionary sound bites.

In December Mr Cable said the “raging housing boom” in London and the South East may have to be cooled off by an interest rate hike and suggested the Help to Buy scheme may need to be reviewed. Among Cable’s best known portents was his warning of a forthcoming economic crisis in 2007-8.

Housing undersupply

A commonly accepted underlying problem relates to the supply of new housing; the International Monetary Fund has said the United Kingdom must be “vigilant” to any potential housing bubble risks and should look at measures to help boost house building such as easing planning restrictions.

The government said that Help to Buy encourages “responsible lending”.

Perhaps you are one of our home, landlord or holiday home insurance customers who has benefited from Help to Buy or know someone who has. Do you think the scheme is a safe way to get more people on the property ladder, or does it carry an inherent risk of a housing bubble?