Keyworker

Keyworker housing is designed specifically to help key workers, particularly health workers, teachers and the police, to buy homes in urban and rural areas where high house prices would otherwise prevent them from living in or near to the communities they serve. In some areas the key worker definition is wider and includes social workers, care workers, fire fighters, transport workers, prison and probation service staff and occupational therapists.

Keyworker housing can be purchased on either a shared ownership or on a fixed equity basis.

Shared ownership refers to part own part rent schemes. These vary, but normally an affordable share e.g. 25% or 50% of the value of the property is purchased by the key worker and rent is paid on the share owned by the Registered Social Landlord(RSL). Further shares may be bought until the home is owned outright. When further shares are bought the cost of purchasing these further shares will be on the basis of the value of the property at the time the additional shares are purchased.

Fixed equity schemes usually mean that the key worker can purchase a percentage of the property value e.g. 60% of market value, and if they wish to sell in the future the property would be sold to another key worker for 60% of market value. This enables the property to remain affordable to key workers in perpetuity. It should be noted that sometimes there is a nominal rent payable to the RSL.

In addition to paying a mortgage and rent, it should be noted that you may have to pay a Service Charge to cover services provided to any common areas e.g. external redecoration, gardening, cleaning and communal lighting. In the case of flats, a contribution to a sinking fund to pay for the replacement of major building components over the long term is required. This is payable as part of the service charge or at the point of sale. The liability for service charge and sinking fund contribution are the same irrespective of the share of equity owned.

To find out more and to see if you qualify you will need to contact the Zone Agent in your area. These are Registered Social Landlords (RSL's) that have been given the task of liaising with the relevant employers and compiling registers of key workers interested in renting or buying a property under the Keyworker scheme. Further details of how the scheme operates in each area and application forms will, therefore, be available from them.

The Zone Agent for Cambridgeshire, Bedfordshire and Northamptonshire is Key Homes East and their address is Pilgrims House, Horne Lane, Bedford MK40 1NY. Telephone number: 08454 566 757 (www.keyhomes-east.org.uk).

The Zone Agent for Hertfordshire is Lea Valley Homes and their address is 6 Houghton Hall Business Park, Porz Avenue, Houghton Regis, Bedfordshire, LU5 5UZ. Telephone number: 01582 869 440 (www.leavalleyhomes.co.uk).

The Zone Agent for Norfolk and Suffolk is Orbit Homebuy and their address is Garden Court, Harry Weston Road, Binley Business Park, Binley, Coventry, CV3 2SU. Telephone number: 08458 502 050 (www.orbithomebuyagents.co.uk).

The Zone Agent for Essex is Moat and their address is Mariner House, Galleon Boulevard, Crossways, Dartford, DA2 6QE. Telephone number: 07002 662 846 (www.homebuy.co.uk).