Bryan Simpson, of Simpsons Estate Agents, believes the shared equity scheme could be one way to help get first-time buyers back into the market after the recent slump.

The scheme, being considered for families with incomes below £60,000, help buyers to acquire part of a property’s value and pay rent on the remainder.

Mr Simpson said: “Although there are signs that lenders like Abbey and Nationwide are reducing their rates, it is only by a small amount at this stage.

“The problem is with the lenders no longer offering 100 per cent mortgages and expecting buyers to put down deposits that many simply do not have.

“But with the shared equity scheme, first time buyers would not have to find a big deposit and would be able to pay rent on part of the stake – it opens the door.”

Mr Simpson says there is still plenty of demand in Fleetwood for houses and says the ethos of people wanting to buy their own homes remained undimmed.

He believes that with more reasonable deals for first-time buyers, the market will become buoyant again.

Anthony Quinn, director of 1st Fylde Estate Agents in Fleetwood, hopes that the moves by Abbey and Nationwide to show a little more flexibility, albeit it in a small way, could lead to further relaxations by lenders .

He said: “The housing market in Fleetwood is stable compared to many other areas and I am optimistic that these small signs from a couple of lenders may be the start of something.”