The Department for Transport, Local Government and the Regions (DTLR) announced last week that 20m of the 250m Starter Homes Initiative will provide 2,000 key workers with 10,000 equity loans to help them buy property outside the capital. This includes 1,000 nurses and healthcare workers, 700 teachers, 220 police and 80 other key workers - the category that may include nursery nurses or classroom assistants, at the local authority's discretion. It could also include social workers, prison service staff and firefighters.
This part of the scheme is aimed at key workers who can buy property with a lower level of assistance than that provided in the first round, announced last year. Housing minister Lord Falconer said, 'Unlocking the housing market for dedicated and essential staff like nurses and teachers will help ensure they are not priced out of their chosen professions. This kind of initiative is vital to secure the future of our public services and attract excellent staff.' Last September the DTLR announced that 230m of the 250m allocated to the Starter Homes Initiative would go to 95 schemes providing assistance to key workers through shared ownership or interest-free equity loans. Just under two-thirds (63 per cent) of the cash went to schemes in London, while 28 per cent went to schemes in south-east England, and nine per cent to schemes in the east and south-west.
