PEOPLE in Wyre Forest struggling to get their foot on the first rung of the property ladder are set to benefit from a new initiative.

Wyre Forest Community Housing is lending a helping hand by piloting a new shared ownership scheme in Worcester Road, Kidderminster.

Residents who qualify will be able to own from 50 to 75 per cent of the property and pay rent on the remaining share to Wyre Forest Community Housing.

Four homes are currently available under the scheme, which is specifically intended for people who cannot afford to buy a suitable home in any other way. Priority will normally be given to those on local authority or housing associations' waiting lists.

Wyre Forest residents who do meet the required criteria will be expected to pay a service charge when buying the property. Later, if they wish and can afford to do so, further shares in multiples of 10 per cent can be bought until the property is owned outright.

The three-bedroom houses in Worcester Road are currently on the market for £57,000, for those people who qualify for the part ownership scheme.

If, at any time, the occupant wants to sell the property, there is an option to sell the part that is already owned or to buy the remaining share and sell the property outright.

Wyre Forest Community Housing's shared ownership liaison officer, Suzie Webber, said: "We are piloting the scheme in Kidderminster to see how successful it is. It is specifically targeted at people who would not normally be able to afford to get on the property ladder.

"Many people have already expressed an interest in the shared ownership scheme. We are currently booking them appointments to discuss it further."