Government data published today showed that 2,384 applications for Help to Buy 2 mortgage deals have been accepted by Halifax and RBS/NatWest, the only two lenders currently offering products expressly linked to the scheme.

If all of these deals go through, that would represent £365m of new mortgage lending.

Ten of applications have already completed, five each at Halifax and RBS/NatWest.

Under the Help to Buy 2 scheme, mortgages for up to 95% loan-to-value (LTV) are partially underwritten by the government. This encourages participating lenders to offer higher LTV mortgages to borrowers as it protects the lender to a degree should borrowers default on their repayments.

Halifax and RBS/NatWest are the only lenders offering mortgages specifically linked to the scheme right now, but a raft of other lenders have pledged to enter this market later in 2013 or in the New Year.

The average loan size under the scheme so far has been £155,000, typically used to buy houses worth £163,000.

The government said more than 75% of applications were received outside of London and the South East. A breakdown of RBS’ Help to Buy activity showed the highest number of applicants have been from the North West, South East and Scotland:

– The average purchase price in the North West is £134,427 and average combined salary (for joint applicants) is £40,856

– The average purchase price in the South East is £209,068 and average combined salary is £56,849

– The average purchase price in Scotland is £117,619 and average combined salary is £36,698.

The government said more than three-in-four Help to Buy applications are made by first-time buyers.

Prime Minister David Cameron said:

“Four weeks in and it’s clear that Help to Buy is already delivering. In just one month, over 2,000 people have been accepted for a Help to Buy mortgage.

“But the best thing about Help to Buy isn’t the statistics – it’s who is really benefiting. Most Help to Buy applicants are first-time buyers, young and have a roughly average household income.”