New cash to help key workers buy homes

One-stop shops will market a new £690 million ‘key
worker living’ programme designed to attract new social
workers, teachers and nurses and help retain existing staff in
areas where house prices are high, writes Natasha

The one-stop shops, located in London, the south east and east
of England, will advise key workers on the options available to
them under the inititative. The new programme replaces the
£250 milion starter homes initiative, which was launched in
September 2001.

The new scheme will extend assistance to existing homeowners
wanting to buy larger properties, such as family homes.  As with
the starter home initiative it will help first-time buyers, assist
with shared ownership schemes and properties for rent.

Despite initial concerns that the starter home initiative would
not meet its target of helping 10,000 public sector workers buy
their first homes by March 2004, the Office of the Deputy Prime
Minister claims to be on track to place over 9,000 key workers into
home ownership by the end of March, with a further 1,200 expected
to complete purchases within the first few weeks of April.

information on the programme

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