You are here: Home - News -

Help for key workers living outside capital

  • 06/06/2002
  • 0
The Government has announced a £20m starter home initiative to help key workers living in housing ho...

The Government has announced a £20m starter home initiative to help key workers living in housing hotspots outside London get a foot on the property ladder.

A total of 2,000 key workers ‘ including 1,000 nurses, 700 teachers and 220 police officers ‘ will be granted equity loans of £10,000. The announcement follows a similar scheme announced in October last year, where key workers in London benefited from Government loans to help solve the housing affordability crisis in the capital.

The move to help key workers elsewhere in the country indicates the growing problems for first-time buyers as house prices continue to soar. According to the Government, high house prices are undermining staff recruitment and retention drives.

Housing Minister, Lord Falconer, said the initiative would provide help to essential public sector staff to ensure they are not priced out of living in the communities they serve.

A spokesperson for the The Department for Transport, Local Government and Regions (DTLR) said that, although the loans will not solve all key workers’ housing problems, it will give those close to buying their first home an essential boost.

‘This is an important initiative to help people get their first step on the property ladder in areas where house prices are pushing people out of the market.

‘It will not allow people to buy a home if they have not already saved towards covering the expenses of buying a property, but for those people who are close to purchasing, it will be a big help.’

The DTLR has assessed bids by various parties to administer the equity loan scheme and has announced that the schemes will be run primarily by registered social landlords, which submitted the majority of the bids.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Halifax, Northern Rock and Woolwich win at L&G awards

Halifax scooped the title of best overall lender at the Legal & General (L&G) awards, sponsored by M...