To receive a loan the applicant must be over 18, work at least 16 hours a week and have a good credit history.

Private investors pay the government for the right to receive the loan repayments.

You'll need to put down at least a 5% deposit and will receive a loan of up to 20%, meaning you can apply for a 75% mortgage.

Remaining lenders tightened the credit criteria making it more difficult to receive a loan.

These systems require all licensed lenders to conduct a real time verification of the customer's eligibility to receive a loan before conducting a loan.