CONCERNS have been raised over a new scheme set to be implemented by Basingstoke and Deane Borough Council which aims to help people get on the property ladder.

The scheme aims to support young people to buy a home with deposits of up to £30,000 per application.

The equity loan will be available to single people, couples and those with children, with a priority for those on lower incomes of around £28,000 if a couple and £31,300 and below if a single person.

However, opposition councillors criticised the scheme, as it would be funded from section 106 money.

South Ham ward councillor, Cllr Gary Watts, said: “I am worried that this council has an ambition to become a bank by giving out loans.

“Instead this council should be about delivering high quality services to its residents, which it is not doing at the moment.”

However, other councillors were in support of the scheme but were not happy with how the money was being used.

Leader of the Basingstoke Liberal Democrats, Cllr Gavin James added: “The idea that we help people who cannot afford their own home is a sensible one.

“However, the 106 money should be used to build social housing that we need.”

Cabinet member for homes and families Cllr Tristan Robinson said: “Home ownership is a dream and aspiration for many young people across our borough who want to stay in the area where they grew up.

“For those working hard and struggling to save towards a deposit, the market can seem just that bit too far out of reach, and yet they do not qualify for any support.

“Our landmark equity loan scheme will help local low to middle earning residents under the age of 35 to borrow up to £30,000 for their deposit giving them a step onto the housing ladder.”

For more on the scheme visit