Share to Buy won a tender earlier this year to host the First Steps website, The firm took over from the Greater London Authority (GLA) which had previously run the service in-house using public funds.

Share to Buy was launched in 2004 by James Cartlidge as a mortgage brokerage but diversified in 2010 by setting up a property portal for shared ownership and similar properties.

Unlike builder-backed schemes such as NewBuy, consumers are told they are under no obligation to get mortgage advice from the firm.

“If you go to one of the Help to Buy developers they will shoehorn customers very strongly toward a selected broker in one form or another,” he told Your Mortgage.

“Ours is a very different thing, as the vast majority of consumers are using it for research purposes. A very small percentage will take it further with us, but there’s no obligation.”

Share to Buy is also in talks with another broker firm to provide face-to-face advice and expand the range of options available to consumers.

Previously, the Share to Buy website charged housing providers to list properties but now the properties are listed for free as part of the agreement with the mayor’s office.

The site had a soft launch earlier this year and was officially unveiled on 1st July.

The previous First Steps website, which cost around £2m per year to run, was axed by London mayor Boris Johnson as he wanted it to be replaced with a free portal already operating in the private sector.

Share to Buy won a tender for the rights to host and administer this website for the next three years.

“Enquiry levels are higher than when the site was a including these properties.taxpayer funded service. Housing providers have been giving us very good feedback and they are achieving sales through it,” Cartlidge said.

“I don’t think anyone is saying we should go back to the situation where we had scarce public funding subsidising a property portal. I think the public would think that is an odd thing in the current climate.”

Mayor of London Boris Johnson added:

“We’re investing huge sums in affordable housing in the capital and this fantastic new portal shows potential homeowners what they can rent and buy, and where.”