Key Worker Finance

Our experienced team of independent mortgage partners specialise in mortgages for Key Workers. Whether you have a good or bad credit score; even if you have no deposit - we can help you get on to the property ladder through a range of products and services especially designed for your circumstances.

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Have you had any of these (please tick):	CCJ Defaults IVA
Have you found your property?:	~~Please choose one~~ Yes - Now I need a mortgage No - But I am looking I just need some free key worker advice

Key Worker Living

The Key Worker Living Programme is a £690m government initiative that offers financial help to public sector workers to buy or rent a home close to where they work. This could be a great help to many nurses, teachers or other 'key' workers who may otherwise struggle to afford accomodation in certain parts of the country.

The help is available in different forms such as:

From 2nd October 2006 a new format to the 'Open Market Home Buy' scheme will take over from the older system. Applicants are able to apply for an equity loan that would cover 25% of the purchase. The equity loan is made of two parts. The first part (max 12.5%) comes from the government. The second part (max 12.5%) would come from the lender who would provide a mortgage to cover 75% of the property value. Applicants only need to prove affordability on the mortgage.

Applicants will pay nothing back on the equity loan from the government until sale of property, however the equity loan with the mortgage lender may need paying back after the fifth year - this depends on the lender.

Criteria for Key Worker Equity Loans

• Household income must not exceed £60,000
• All applicants must be free from adverse credit (Note - Key Worker Finance can still help you if this is the case)
• A mortgage to cover the purchase must not exceed 3.5 times single salary and 3 times joint salaries
• You must have savings of £5,000 to cover solicitors fees, stamp duty and survey.
• You may only purchase a reasonable distance from your place of work (assume reasonable to mean up to 1 hour)

• Nurses, other NHS climical workers
• Teachers in schools, further education and sixth form colleges
• Police officers and some civillian staff
• Prioson and probabtion service workers
• Social workers, educational psychologists, planners (in London) and occupational therapists employed by councils
• Full-time junior fire officers, retained fire fighters.

Mortgage Advisors