A ONE-TIME ground-breaking scheme designed to help first time buyers in Bromsgrove get a foot on the housing ladder is to be revived as property prices continue to go through the roof.

The Low Cost Housing Scheme, as it was called, was first introduced by Bromsgrove District Council in 1989 from when until 1992, 222 homes were built on five sites in the district.

Further afield the scheme, which has since been much copied, was dubbed the Bromsgrove Model.

It allows owners to buy the houses at 70 per cent of the market value, the remaining 30 per cent retained by the council.

Such was its success that local authorities elsewhere in Britain copied it.

And Michael Portillo, then a Government minister, visited the town to see for himself how it worked.

Owners wishing to sell are obliged to offer the houses to others on a list compiled by the council and on which there are presently about 100 names.

In a report to the council's cabinet which met on July 24 and which unanimously agreed to resurrect the scheme, council chief Bob Lewis said in the intervening years 60 home owners have bought out the council's share.

Finance to buy the land and build the homes will come from a £1.2m pot of cash received from the developers of new private housing estates in the town, and given to the council in lieu of them having to include a proportion of cheaper social housing on the sites.

Mr Lewis said a further £1.5m has still to be received by the council.

The authority's deputy leader, councillor Margaret Taylor (Con-Barnt Green), commented: "I'm very pleased to see this scheme resurrected.

"It provides good quality well built houses at a price first time buyers can afford."

pete.lammas@newsquest

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