Key Worker Housing

Teachers and managers in GFECs, tertiary and sixth form colleges are eligible to apply to the extended Key Worker Housing Scheme launched on April 1st 2004. The scheme is open to people working in the London, South East and East Anglia areas.

You may be eligible if:

• You work in a GFEC, tertiary or sixth form college. (ACL and private providers are not included in the scheme).
• Your household income does not exceed £60,000
• You are on a permanent contract, either full time or fractional. (Colleagues on fixed term contracts, provided they have at least 6 months to run on their contract, are eligible for the intermediate renting aspect of the scheme – see below).
• You are qualified or working towards an FE teaching qualification
• You are not able to raise a mortgage sufficient to your needs (1 bedroom per person plus spare).

Options on offer:

• Equity loan of up to £50,000. Repayment is correlated with equity increase or decrease; so if your property decreased in value you would pay back less than you borrowed and vice versa. If you cease to be a key worker you pay back the loan within 2 years. However you can take a career break of up to 2 years – e.g. women having children.
• Shared ownership of new build. Minimum of 25% ownership plus reduced rent to a social landlord who owns the remaining share of the property.
• Intermediate renting where the rent is set at a level between that charged by social and private landlords. (Mainly aimed at nurses, this option is available to colleagues on fixed term contracts.)

What else?

• You have to buy a property suitable for your household’s needs.
• It’s permissible to already own a property and be planning to move to a larger home to meet your family’s needs.
• The size of your loan would depend on your circumstances including savings, student loans, the size of the mortgage you could get and the cost of the property you want to buy.

How to apply?

Contact your zone agent:

London
0845 3008280
www.keyworkerliving.co.uk

South East England
0845 600 6699
www.keyworkerliving-sep.co.uk

Hertfordshire
01582 869440
www.leavalleyhomes.co.uk

Essex
07002 662846
www.moat.co.uk

Beds and Cambridgeshire
0845 4566757
www.keyhomes-east.org.uk

Norfolk and Suffolk
0845 8502050
www.orbit.org.uk

Comprehensive information is available:
www.odpm.gov.uk/keyworkerliving