Affordable housing
There is not enough affordable housing being constructed to meet current demand; and as the number of households in London
grows, demand for affordable housing will increase.
Essential workers are being priced out of town, and this having an impact
on staffing for vital services such as health, transport, policing and
education.
Housing for key workers
Teachers, nurses and other medical staff, social workers, policeman,
fire officers and other essential staff - collectively known as key workers
- may earn too much to qualify for social housing. But most earn
too little to afford to buy a home by themselves in London.
The Key Worker Living
scheme, from the Office of the
Deputy Prime Minister focuses on those delivering front line public
services, such as health workers and teachers, where there are significant
recruitment and retention issues. It extends housing assistance to key
workers at different life-stages, not just first time buyers.
Designed to
help key workers in London, the South East and East of England to
buy a home, upgrade to a family home or rent a home at an affordable
price, the following help is available under the scheme
- ' Equity loans' of up to £50,000 to help key workers buy a
home on the open market or a new property built by a registered social
landlord.
- Higher-value equity loans of up to £100,000 for a small group
of school teachers with the potential to become leaders of London's
education system in the future.
- Shared-ownership of newly built properties. (You buy at least 25
per cent of the home and pay a reduced rent on the remaining share).
- 'Intermediate renting' where the rent is set at a level between that
charged by social and private landlords.
The ODPM's website contains
the following information, including:
- Who can benefit
- What is available
- Who do I contact
- Questions and answers
The Key
Worker Living website will
tell what is available in your area and who to contact.
Further information for key workers
- Guardian
Unlimited for more on key workers and the Key Workers Living
scheme.
- Keystart Housing
Association offer a number of schemes aimed at key workers such
as teachers, health workers and other essential public services.
- Metropolitan Home Ownership -
the specialist low cost home ownership arm of the Metropolitan Housing
Trust Group operating schemes for key workers.
- Tower Homes - operates
schemes that are specifically directed at first time buyers and those
who cannot afford to buy a home outright.
- Moat Housing Group -
offers both affordable home ownership and sub-market rent schemes for
key workers.
- London Strategic
Housing (LSH) is a charitable housing association that works
in partnership with the NHS and other keyworker employers to provide
quality affordable homes for rent across London.
- Unite is a specialist
provider of accommodation services for students and NHS key workers.
- Teachers Housing Association is a non-profit making charitable organisation providing rented accommodation for people in housing need, particularly those associated with education.
Affordable Home Ownership Schemes
A number of schemes promoting low cost home ownership are available through
registered social landlords (RSLs) - such as shared ownership, homebuy
schemes, Right to Acquire and Voluntary Purchase Schemes.
- Right to
Acquire (RTA) - gives eligible tenants of RSLs a legal right
to buy the home they currently rent at a discount. Tenants
are always required to contribute 50 per cent of the purchase price.
The scheme only applies to RSL properties built or purchased with public
funds or transferred from a local authority after 1 April 1997. Some
properties are exempt from RTA including those in small rural settlements
and sheltered housing.
- Under the Voluntary
Purchase Scheme tenants of Registered
Social Landlords (RSLs) whose properties do not qualify for the statutory
Right to Acquire scheme, may be able to buy the home they rent at a discount.
- the Homebuy
scheme helps
people to buy a home on the open market The scheme, operated by selected registered
social landlords in England, is open to existing tenants of registered social
landlords and local councils, or those on housing waiting lists who are nominated
by their local council as being in housing need.
- the Shared
Ownership scheme: through which you buy a share of the property
and pay a rent on the remaining share you do not own. This scheme is intended
for people who cannot afford to buy a suitable home in any other way.
They must be in housing need and be unable to afford outright purchase.
Priority will normally be given to existing public sector tenants or
those on local authority or social landlords’ waiting lists.
For further information on these schemes contact or for a list
of RSLs running the scheme contact the Housing
Corporation's London office.
One way in to Shared Ownership is to register with Available
Homes.
Cash Incentive Scheme (CIS)
Local authorities have specific powers to run Cash Incentive Schemes
(CIS) giving grants to help their tenants buy homes on the open market.
These grants enable local authorities to create vacancies in their stock
that can then be used to house homeless families and others in housing
need.
There is not currently any central funding for CIS and so local authorities
must fund schemes from their own capital resources. It is up to each
local authority to decide whether to run a CIS scheme and tenants have
no mandatory right to a grant.
For further information about cash incentive schemes contact your local
authority.
Shared Ownership swapping
You can swap your shared ownership property for an equivalent if you
want to move like you can with council houses. See Homeswap.
|