More than 2,500 people have signed up to the Government's flagship first-time buyer scheme, it has emerged.

Ministers hope the First Buy Shared Equity initiative – to which the Government has committed £250 million – will help 10,500 would-be homeowners purchase their first property by the end of next year.

Answering a written Parliamentary question, Housing Minister Grant Shapps said figures published in November showed 44 sales to the end of September. He said this did not reflect the take-up of the scheme and house builders have found significant interest from first-time buyers, reporting over 2,500 reservations following the signing of the contracts in the summer.