A SCHEME to help residents buy their own homes could soon be implemented in Richmondshire.

Richmondshire District Council’s corporate board gave its approval to a home ownership promotion policy which will see the authority buy properties to market, either on a shared or discounted ownership basis.

The idea is the scheme will allow people on lower incomes the chance to own their own home for the first time.

Currently the majority of affordable housing is provided through planning agreements where developers provide a percentage of affordable homes on each new housing site – they are traditionally bought by housing associations for rent, discounted or shared ownerships.

The price they pay is below market value depending on location, size and availability.

However, while that will still happen, under the council’s proposed scheme it will also take on the role of a housing association by buying some of these properties and making them available to local people under shared or discounted ownership.

But some councillors were not convinced this was a wise decision.

Cllr Stuart Parsons said many people currently waiting for council housing needed to rent – because even with the scheme they would not be able to afford a home.

“The problem is this won’t address the current waiting list for affordable homes in Richmondshire – which has to be our first priority.”

Cllr John Blackie said a new government policy is still being discussed by Parliament – a start home scheme that could see the government buying up homes itself, leaving none for the council to buy.

But leader of the council, Cllr Yvonne Peacock, believed it was a good opportunity.

She said: “This policy will make a sizeable contribution to one of our key aims to help our residents own their own homes.

“It will put home ownership within reach of many lower income households and allow the Council to build up a portfolio of properties that can bring in additional income.”

Deputy leader of the council, Cllr Ian Threlfall, added: “This is a chance for us to support people who just can’t quite grasp the bottom rung of the housing ladder.

“It’s the fundamental and most basic thing people expect of a council – to provide housing.”

Members of corporate board approved the policy, including the set up cost of £448,000.

The full council will be asked to ratify the decision when it meets on Tuesday, April 19.