RORY Stewart MP has showcased in Parliament an important project in Eden which aims to tackle the affordable housing issue.

The Eden model was explained in parliament to a cross-party group of MPs, peers, and Building Society chief executives.

Penrith Building Society run by Amyn Fazal, has worked alongside Eden District Council to create the 'Eden Mortgage Boost Scheme'.

It reduces many of the initial costs would-be home owners face when borrowing more than 75 per cent of the purchase price - making it more affordable to buy a house in Eden.

The scheme, which will shortly see its first applicants move into their new homes, was presented by the Penrith MP and Mr Fazal as a 'community-focused' model to be replicated nationwide.

Eden has already shown itself to be leading the way when it comes to affordable housing, with the Stoneworks Garth site in Crosby Ravensworth standing as a 'model example' of a community building and owning their own affordable homes.

Alongside its promotion in Westminster, the scheme also featured prominently in the latest Building Societies Association report, where mutuals like PBS were praised for their strong focus on the local community.

Chief Executive Amyn Fazal said: "Being a small mutual means that our commitment to the principles of mutuality, puts us in an excellent position to put them into practice. The Eden Boost scheme should be seen in conjunction with our wider community involvement."

Mr Stewart said: "Amyn and Penrith Building Society are doing some really fantastic work here in Cumbria. We already have some amazing affordable housing projects in this constituency, but there is still much more we can do to help young people in particular get on the local property ladder, and ensure our rural communities remain affordable to local people who want to raise their families here. Initiatives like the Eden Boost Scheme are huge step in the right direction and it would be great to see it adopted by many more communities across Britain."

Adrian Coles, director General of the national Building Societies Association, said: "The Penrith Building Society stands for everything that modern banking seems to have, mistakenly in my view, thrown away: local knowledge and understanding, community involvement, a personal service determined by each borrower's and saver's individual requirements, and an overall determination to do what is right for the customer.

"The people of Penrith should be proud to have such a well-regarded financial services institution, with such a long and distinguished history, right in the centre of their town."