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How will latest Help to Buy scheme work?

30 September 2013 Last updated at 12:17 BST

A scheme designed to help people across the UK to take out 95% mortgages is being extended to cover older properties - three months earlier than planned.

Help to Buy was launched in April for those who wanted to buy a new build property but did not have a big enough deposit.

Ray Boulger from independent mortgage brokers John Charcol told BBC Breakfast that in reality nobody would be able to complete on a purchase before the end of 2013.

"The only lenders who've committed so far are the two banks who are partially state-owned - the fact they've been prepared to commit without knowing the full details of the scheme, I think, tells you a lot."

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