A new shared ownership scheme in Lancashire is proving popular with people wanting to get on the property ladder.

Plumlife officially launched Petre Wood in the village of Langho, near the Ribble Valley near Blackburn last month, with the newly-appointed mayor joining in the celebrations.

Through the Plumlife shared ownership scheme, first-time buyers, young families and older couples can move in to the affordable properties at the development.

The initiative provides a government-backed affordable homes scheme allowing buyers to purchase 50 per cent of the property.

Prices start from £40,250 for 50 per cent and owners can have the opportunity to buy more of the property as time goes on.

Plumlife deputy chief executive Matthew Harrison points out that out of 21 houses for sale only one is yet to be sold and eight of the 12 apartments have been reserved.

"Clearly, affordability is key, and the shared ownership scheme has meant that many local people who had given up hope of buying before, now have a real chance of doing so," he added.

The launch of the affordable housing development comes after Ribble Valley Council was slammed for providing just 109 affordable properties in the area over the past five years.

Source: 26/06/09