I'm probably wrong,but a small amount of fat in a low cholesterol diet can help as long as it's the right fat,that's why I suggested seeing a dietician as there is good and bad cholesterol.
And it depends on the type of fat you're consuming and I can't go into the science of it but personally I'd be wary of some of these fat replacements and stick with natural food/fats but in moderation.
Okay they say on a low cholesterol diet you should avoid red meat but if you fancy a steak you can have one,just trim off "most" of the fat,from what I've read it doesn't say trim all of it.
The trick seems to be moderation.
And if you do fancy a steak get a good one with plenty of marbling,the fat in the marbling should melt away on cooking but still leave you with a lean piece of meat with all the taste.
Just don't fraz it to death and let it rest.
Look at all the top restaurants,nearly everything is fried,if you do it properly I believe it can be perfectly healthy.
I fry nearly all my red meat but get through a MAXIMUM of one litre of oil a year,I use sunflower oil.
I eat a fair bit of liver and kidneys as well though which are almost fat free.
Back to sausages.
As Phil said chicken can be fatty but it depends what part you use.
According to the sausage making guide posted here,
http://forum.sausagemaking.org/viewtopic.php?t=3986
chicken and turkey are 95% lean while shoulder pork is 80% lean.
I'm not a lover of turkey myself but I love chicken,the scale doesn't say if it means skinned or unskinned chicken/turkey.
But in my personal opinion you could probably skin the red meat,thighs,drumsticks,whole legs,and be left with enough fat in the meat still to make a very good and healthy sausage.
It will need a little more mixing and more work but it won't be the alleged low fat garbage sold by supermarkets and you'll know exactly what you're eating.
Baking sausages is a good move too,that's probably why I use so little oil and it is my preferred method for cooking sausages,but sometimes you just have to fry
BM