Key worker homes extended for first time buyers

22-Sep-2006

Some 10,000 first time buyers working in the armed forces will be offered help getting onto the first rung of the property ladder under an extension of the government's key worker homes scheme.

The scheme will help employees based in London, the south-east and the east by providing access to newly built homes for a minimum payment of 25 per cent of the property price.

Military personnel will then pay a reduced rent on the balance of the home price.

Ruth Kelly, secretary for communities and local government, said: "We know that in some areas of the country, service personnel, like other key workers, have been priced out of the housing market."

She said that extending the low-cost home ownership scheme to the military would enable more people to get onto the first rung.

In a recent announcement the Ministry of Defence indicated that under a new restructuring project, it would free up 100 hectares of brownfield land in Greater London for housing development.

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