First time home buyer news: Key worker homes now open to all

19-May-2006

The government has announced that it is to abandon the rules that restrict first ¬time home buyers access to its flagship key worker housing scheme.

The Housing Corporation has stated that all Key Worker Living (KWL) properties built over the next two years can be sold to anyone on council waiting lists, reports Inside Housing.

Previously, it was only those workers that met the government's key worker definition that could qualify for the newly-built homes.

Aspiring first time buyers wanting advice on mortgages, to find out how much they can borrow and how much it will cost, should request advice from the UK's leading High Street Brokers, Bradford and Bingley.

However, recent figures released to parliament reveal that more than half of all KWL homes built for sale have been left lying empty.

"All [low cost home ownership], whether bid for as KWL or as [national affordable housing programme] originally, can be marketed to existing social housing tenants, those on the waiting list, and those defined as key workers under the KWL programme," Inside Housing reports the letter as stating.

Tax advice can be sought from the FirstRungNow tax advisor.

This move has been welcomed by housing associations and the UK's largest nursing union who believe that the government is finally listening to their complaints.

The lifting of the restriction applies to all regions of the UK that are covered by the KWL programme.

Find out more about the housebuying process in the FirstRungNow Home Buyer's Guide.

2008: May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar