Help to Buy scheme explained: can you still take part?

The Help to Buy scheme was announced with much fanfare by the chancellor in March 2013. It was set up to help those struggling to get on the property ladder buy a home with just a 5% deposit.

A year on, there are claims that the scheme has priced out more first-time buyers than it has helped, by fuelling house prices. The head of the Bank of England, on the other hand, says it's not driving the housing market. What are the pros and cons of the scheme, and how can you take part in it?
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