Key worker mortgages

As impartial mortgage advisors we have extensive experience in arranging mortgages for those with deposits provided by keyworker schemes. If you have already been agreed by your local authority, or even if you need to find out who to contact to arrange an application, contact us today and we will guide you through the whole process from start to finish.

Key worker schemes, or 'key worker homebuy schemes', are available generally to police, fire-fighters, NHS staff and teachers. However, depending on specific recruitment challenges within each area, local authorities may broaden or restrict their key worker definitions. They may also add further deciding factors, such as the time you have spent in your job or any particular speciality within a key worker group, e.g. maths teachers.

Key worker schemes provide the key worker with a lump sum, or 'equity loan', which is generally interest free, but must be paid back if the property is sold. Some local authorities may have quite limited funding available, and there is often a time limit in place, so the sooner you make your application the better. The local authority will normally stipulate that you have to buy your property within a certain distance of your workplace, and they will also place a limit on the price that you can go up to. These details will be confirmed at the application stage.