More than 32,000 buyers have used the Help to Buy scheme to move up the housing ladder, new research has suggested.

The Government has said that 170,000 new-build homes have been bought with Help to Buy since the scheme was introduced. But according to Hamptons International, the scheme is being used by some buyers to trade up.

Help to Buy is not restricted to first-time buyers although the majority of its users are.

The scheme offers borrowers loans worth up to 20% of the property’s value outside London, and up to 40% in London, which are interest-free for the first five years.

According to Hamptons researcher Aneisha Beveridge, some buyers are putting up bigger deposits, using the equity in their first home.

Savills’ researcher Lawrence Bowles said people are upsizing into bigger homes using Help to Buy because their circumstances have changed.

He said: “They might have met someone, but they don’t have enough equity to trade up, so they need to rely on the loan.

“It’s about helping people access the right kind of home ownership, and yes, some of these people might be on high salaries, but it doesn’t necessarily mean they can afford the home they need.”