A POPULAR first time buyers scheme in Worcester will be reviewed to see if another £1 million can be put into the pot - but calls to speed it up have been rejected.

The city council’s Labour leadership has had to defend claims it is “waiting for the daffodils to arrive” by refusing to find another £1m now.

During angry scenes at the Guildhall, the Conservative group tried to get Labour to speed up a review into the mortgage scheme’s success.

As your Worcester News revealed last week, so far 24 people have been offered mortgages under a joint city council-Lloyds project to get more young people on the housing ladder.

Under the offer, the buyer needs to find a deposit of just five per cent, with the city council underwriting 20 per cent of the home’s value under an indemnity.

The pot has over £300,000 left but is expected to run dry very soon, which led to a debate over finding another £1 million.

Some sources close to the project suggest the money could be all gone as soon as September this year.

Councillor Simon Geraghty, Tory group leader, speaking during a full council meeting, said: “We started it last April and I expected it to take six to 12 months to kick in, but interest has been so high.

“I personally feel this is one of the most successful schemes we have ever done, and I want to see another £1m brought forward so this can continue.”

But Councillor Roger Berry, the cabinet member for safer and stronger communities, said it would be “premature” to find the money in the current financial year.

He told a full council meeting the authority needed more evidence it has worked, and cited “budgetary pressures” as one reason to take it slow.

“If we are going to relaunch this scheme, I suggest we do it in the spring,” he said.

Coun Geraghty said: “It’s clear the resources left will not last to the end of this financial year - the people of Worcester will be very disappointed if it has to close due to this council’s inaction.”

Councillor Marc Bayliss, Tory group deputy leader, said Labour should “apologise to people looking to buy a home”, sarcastically saying “they want to wait for daffodils” before making a decision.

He said: "What are they waiting for? They need to get on with this now."

That led to the Liberal Democrats intervening, with Councillor Ken Carpenter accusing them of “cynical political dogma”.

Councillor Liz Smith, Lib Dem group leader, said: "I've been on this council since 1990 and I don't think any debate has been such a waste of time as this one."

Councillor Richard Boorn, Labour's finance chief, said: "I voted for the scheme at the time it launched and I'm still in favour of it.

"But we have to learn from history and in 2008, so many people were committed to things they could not afford.

"This scheme has not been running for very long and we do need to take time, but I do accept we do need to help people."

A review was always due to take place in August anyway, and under the current timetable an updated report on it is due before full council in September.