"The government's Help to Buy scheme is very much a work in progress, " said the committee's chairman, Tory MP Andrew Tyrie.

BBC: George Osborne warned by MPs over mortgage guarantee risks

"The maths suggest that the chancellor has 110, 000 shared equity homes in his sights under the Help to Buy scheme" said Frank Nash, from Chartered Accountants Blick Rothenberg.

BBC: Budget 2013: Chancellor extends home-buying schemes

As the government sought to clarify the situation, Housing Minister Mark Prisk denied suggestions by Labour shadow chancellor Ed Balls that the Help to Buy scheme was potentially a second-home "subsidy".

BBC: Budget 2013: Row over 'second home subsidy'

The government looks likely to extend its NewBuy scheme to help people with small deposits buy newly built homes.

BBC: Budget 2013: Cuts, giveaways and grim forecasts

Jersey's Planning Minister says a scheme to help people buy their first home does not help bring down prices.

BBC: Jersey housing loan scheme 'won't help house prices'

But Mr Sargeant told a committee of AMs he was given no advance notice of the UK scheme, Help to Buy, which had "pulled the carpet away" from his plans.

BBC: NewBuy: Wales home purchase help scheme abandoned

The scheme, called Help to Buy, was unveiled in the Budget.

BBC: George Osborne criticises handling of Cyprus bailout

This starts on 1 April 2013 and will help people who want to buy a new-build property in England only, unlike the mortgage guarantee scheme, which will be UK-wide.

BBC: Budget 2013: Row over 'second home subsidy'