Key Worker Living - Essex
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Key Worker Living - Essex
To help public sector workers afford accomodation close to where they work in Essex, the government led Key Worker Living Programme is organised through the Moat Housing Group housing trust.
Moat Housing is a non-profit making organisation and has been appointed as Zone Agent for the Key Worker Living scheme in Essex (they also cover parts of London and some of the South East) to help key workers find affordable housing as public sector employers were finding it difficult to recruit and retain staff due to the high cost of housing in these areas.
The schemes available specifically for key workers living in the Essex are:
- Homebuy - equity loans of up to £50,000 towards property purchase.
- Shared ownership schemes for new properties.
- Intermediate renting - rent costs are fixed between levels charged by private and social.
The equity loans can be up to 25% of a property's purchase price and the loan is only repaid when the property is sold, at 25% of its value at that time. The amount of the loan depends on a number of factors including household income, assets and financial commitments.
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