Key Worker Living - London
Property in London is more expensive than anywhere else in the UK. To help public sector workers afford accomodation in London, the government led Key Worker Living Programme is organised through various housing trusts, known as Zone Agents. North London is covered by Metropolitan Home Ownership, West London by Keystart Homes and boroughs South of the river are looked after by Tower Homes or Moat Housing.
The schemes available specifically for key workers living in London are:
- Homebuy - equity loans of up to £50,000 towards property purchase.
- Higher Homebuy - loans of up to £100,000 for some teachers in London with potential to lead London's education system in the future.
- Shared ownership schemes for new properties.
- Intermediate renting - rent costs are fixed between levels charged by private and social.
The equity loans can be up to 25% of a property's purchase price and the loan is only repaid when the property is sold, at 25% of its value at that time. The amount of the loan depends on a number of factors including household income, assets and financial commitments.
If you would like to find out more or for any help or advice, please click on our Mortgage Enquiry Form above and one of our independent professional mortgage advisers will contact you. Alternatively, you can call us on 0845 108 0505.
