Almost two-thirds of homebuyers who used the government’s Help to Buy scheme could have bought a home without it, an official report has said.

However, they may not have been able to buy the house they wanted without the help, the report from the National Audit Office (NAO) found.

It also found that one in 25 of participants had household incomes of over £100,000.

The scheme did help boost the profits of building firms, the NAO said.

It was too early to determine if the scheme had delivered value for money for the taxpayer, the report said.

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“Help To Buy has increased home ownership and housing supply, particularly for first-time buyers,” Gareth Davies, head of the NAO, said.

“However, a proportion of participants could

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