First-time buyer talk

Fylde Town Hall
Fylde Town Hall
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A SCHEME to help first-time buyers onto the property ladder is being looked at by council leaders.

The Local Authority Mortgage Scheme (LAMS) is being implemented by Fylde Council, and aims to get local councils to free up affordable or social housing for professional people who cannot afford mortgage payments, and helping to reduce the required deposit for first-time buyers.

Fylde’s full council meeting heard a report presented by Coun Cheryl Little, cabinet member for social wellbeing, who said the scheme would help improve aspirations of home ownership.

She added: “We would be helping young people find a home and, we hope, this scheme would also help stimulate the economy.

“LAMS is a national scheme, and as a result a number of local authorities are wanting to take a proactive approach to support the local area and increase their supply of local housing.”

Coun Little read out a heartfelt letter from a 29-year-old woman who had written in support of LAMS, saying it had answered her prayers as she struggled to find a deposit worth more than five per cent of a mortgage.

Pledging his support to the scheme, Coun Kiran Mulholland added: “I think this is absolutely marvellous and we should go for it.”