The partnership will require EQ Credit Services to manage the programme on behalf of the UK government through its technology platform.

Under the new partnership, EQ Credit Services will work with Homes England to implement digital transformation across the customer journey, intending to make it easier for customers to service their loans as well as handle all customer servicing enquiries.

The mortgage administration and servicing concession contract will go live in 2022 with the expectation of supporting more than 300,000 Help to Buy customers.

Sarah Jackson, managing director of EQCS, said: “We are thrilled to partner with Homes England on a scheme that has driven such positive market change and enabled hundreds of thousands of people to get on the property ladder.

“Through our proven platform, outsourcing and transformation capabilities, we will digitalise and transform how the Help to Buy scheme delivers services to customers.”

Will German, director of home ownership at Homes England, added: “Help to Buy customers have a long-term relationship with Homes England and we are committed to providing them with an excellent experience at every stage of their journey with us.

“EQCS has a proven track record delivering critical systems and services across the public and private sectors. We are excited to see our partnership develop and are confident that EQCS’ values, transformational technology and processing capabilities will help us to deliver the service our customers are entitled to expect, both now and in the future.”