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More new homes have been bought using the loan scheme in areas which have seen the smallest increases in house prices over the past 12 months, the analysis by Countrywide suggests.
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"Nocella and McCann used the loan modification scheme like a magic wand to change nonperforming loans into performing assets," Robert Khuzami, the agency's enforcement director, said in a statement accompanying the charges.
Figures published in April showed that by the end of March 2015, 47,018 households had used the equity loan scheme to buy homes in the two years after it launched.
Under the loan scheme, borrowers with a 5% deposit can use the scheme to buy a newbuild property, assuming that they qualify for a mortgage for the remaining 75% of the purchase price.
How will the loan scheme work?
However, given the realities the loan scheme is more valuable.
Over a four-year period, they discovered that the friends of those who already used the loan programme were more likely to sign up to the scheme than the average person.
In the first 18 months of help to buy, almost 34,000 households acquired homes using its equity loan scheme.
Policies for buying small scale renewable energy systems using a payable loan scheme for public should be framed.
The criteria for the equity loan specifically rules out anyone using the scheme to buy a second home, but the outline criteria for the mortgage guarantee element does not.
All were bought using the margin loan.
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