Craven District Council plans to develop shared ownership housing boosted by £72,000 of Government funding.

The council is preparing to start work to build the properties on land it owns this summer.

And it will use £72,000 provided by the Government's Homes and Communities Agency to help cover the costs.

Paul Ellis, the council's director of services, said: “This scheme will provide much-needed affordable housing for Craven residents while also developing an important income stream to help offset the massive financial challenges the council is facing.

“Shared ownership housing allows individuals on low to middle incomes to get their foot on the housing ladder sooner than they may otherwise be able to do so by requiring a much smaller deposit and mortgage. Shared ownership will also provide the council with a stable rental income.”

The principle of shared ownership is that occupiers buy a share of the property – perhaps half – and then pay a rent on the remainder. The owners then have the option of buying additional shares with a consequent reduction in the rental payment.

The council is now a registered provider of social housing and has entered into a service agreement with Yorkshire Housing, which will work with the council to identify applicants for the new homes as they become available.

A pilot scheme to build three, two-storey, two-bedroom starter homes, with their own off-street parking, on the site of former garages in Burnroyd Avenue, Glusburn, is due to begin later this year after securing planning permission, and could be occupied early next year.

The council has also identified a number of sites that could be developed, with the intention of launching a first phase providing about 12 homes.

The sites being investigated are the overspill car and lorry park at Back Gate, Ingleton; a garage site in Colne Road, Glusburn, and vacant land in Harper Grove, Sutton-n-Craven.

It is hoped planning applications for some of these sites could be submitted towards the end of the summer.