A TOWN'S biggest landlord has unveiled its first homes under a shared-ownership scheme to help people get on the property ladder.

Middlesbrough Mayor Ray Mallon launched Erimus Housing's first shared-ownership properties on a new development in west Middlesbrough.

The company is developing 40 properties on the site of the former St Francis School, in Acklam Green.

While 16 houses and four bungalows will be for rent, 20 bungalows will offer the chance of home ownership to people who may previously have thought they could not afford it.

Through the shared-ownership scheme, people can buy a 50 per cent or 75 per cent share and rent the rest from Erimus Housing, buying a further share when they can afford it.

The two-bedroomed Chaloner bungalows have an en-suite bathroom to the master bedroom, a fitted kitchen, with a choice of units, tiling and floor coverings, double-glazed windows, secure doors and private car parking.

Erimus Housing owns about 11,000 homes in the town, which were transferred from Middlesbrough Council in November 2004.

The new properties follow on from its first building project, in Ravendale Road, Priestfields, where two houses and two bungalows were completed earlier this year.

The scheme was launched by Mr Mallon on Wednesday.

Chris Smith, director of regeneration, said: "We want to meet the modern-day aspirations of local people, as well as meeting housing needs in the best possible way we can, and these properties have been designed with the involvement of residents.

"When it is complete, this scheme will not only offer more properties for rent in Middlesbrough, it will give people who thought they may not be able to afford a property a step onto the ladder."

Prices start from £110,000.

Buying a 50 per cent share of the property means buyers would pay £55,000 plus a monthly rental charge.

A 75 per cent share would cost £82,500 plus a monthly rental charge.