The government's Help to Buy schemes have been welcomed by many first time buyers who had been struggling to save for a large deposit. House builders providing starter homes, particularly in the north of England have also benefited in particular from Help to Buy as monthly payment 'affordability' has been less of a problem for many first time buyers than the challenge of saving up for a 20% deposit.

Buyer affordability has of course been made much easier due to the base rate being at 0.5% for five years and now that the UK economic recovery seems to be on firmer foundations, many people are feeling more confident, which is resulting in a reviving housing market across much of the UK.

However, the lessons learned from the financial crisis of 2007-08 have led to the Financial Conduct Authority (FCA) implementing a Mortgage Market Review (MMR) which will be introduced on the 26th of April.

The changes under MMR are being imposed on all lenders and brokers in respect of residential mortgages and also for secured loans and second charge finance. Buy to let mortgages are not directly affected but rental demand in the sector could well be, according to some industry analysts.