Chancellor George Osborne used his Budget to put housing at the heart of his growth strategy when he announced what he called a "dramatic intervention" in the market.<br> <br> Chief among a series of measures designed to stimulate the market is the new "Help to Buy" initiative which will work in two ways. From this month all buyers of new homes up to £600,000 will be able to apply for an equity loan from the government worth up to 20% of the value of the new home, repayable once it is sold. Previously, under FirstBuy, this was only available to first time buyers on homes up to £280,000. And, from January 2014 for three years, buyers of new and second hand homes will be able to buy with a low deposit backed by a new government mortgage guarantee scheme supported by £130 billion of funds. Other measures announced in the Budget include looking to encourage the conversion of commercial space into residential; the expansion of the Build to Rent fund from £200 million to £1 billion; and a further £225 million to support the building of 15,000 affordable homes.<br> <br> The industry by and large welcomed the measures, although HBF's …