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Key Worker Housing

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Its a requirement of the planning application that a certain percentage of new build is 'social housing'. In some area this maybe available to anyone not able to buy a house normally (most first time buyers nowadays) and in others it may be 'key workers' only.

I doubt its a lack of interest from key workers, its more likely that a 50% share of a grossley overpriced property is still too much !

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Even key workers don't want to buy overpriced shoe boxes in new developments via shared ownership even if they do get a subsidised rent on the part they don't own. Most key worker flats on sale in London are studios and one beds - totally unsuitable for families.

You wonder why they don't expand these schemes to include all first time buyers where key worker properties aren't selling

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Near where I live there are currently loads of key worker homes that remain unsold. Is there a financial benefit as they continue to build these but there doesn't seem to be many takers?

In Southampton we have keyworker flats completed six months ago that appear to have no residents at all. We are running a commentary on it, on this sites Southampton thread. Actually we thought they had a building regs problem and so could not be sold, but now I am not so sure!

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I've heard that it is actually quite difficult for "key workers" to get their hands on these homes, even if they want them! It's a complicated application process and apparently the banks are not very willing to grant mortgages for these. Also, rumour has it that some councils have run out of money to fund the government half of the mortgage.

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Near where I live there are currently loads of key worker homes that remain unsold. Is there a financial benefit as they continue to build these but there doesn't seem to be many takers?

I have seen one round here..

(devon.. Do not ask what our average salary is..)

Half ownership.. £90,000 needed.. one double ish... and two very small singles..

Who can buy it at £90,000???

£10,000 deposit, borrow 3.5 times and you need over £22,000

and what do the mortgage companies think about the rent that you have to find above mortgage payments...?

sentiment is changing.. but it sold.

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Near where I live there are currently loads of key worker homes that remain unsold. Is there a financial benefit as they continue to build these but there doesn't seem to be many takers?

It's called a 'section 106' and it's more of a tax raiser for the local council who insist on a certain number of HA homes in a new developement , they pretty much set the price they will pay for them as well. The developers generally make a loss but take it on the chin to get there sites up and running.

D

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Perhaps NU-labor have employed the BBC to help jolly the process along.

:)

BBC

The BBC are producing a new peak time series called 'Come Buy with Me' focusing on stories of co-buying across the UK. If you are you looking to buy in Cambridge, Birmingham, Bournemouth, Southampton or North London - read on...

The series aims to highlight the contemporary issues surrounding first-time buyers and document the solution of co-buying as an option of getting on the housing ladder.

They are looking for young professionals to take part in the programme that have a minimum salary of £20k per year and a deposit of no less than £5k, who would consider buying a property with a co-owner but haven't yet found the perfect person. They are especially interested in first-time buyers who are eligible for the key workers scheme, which includes professions such as teachers, nurses, social workers and paramedics.

The show aims to match up compatible buyers interested in purchasing their first property and will offer expert advice and support throughout the process.

For further information on the programme or if you are interested in taking part, please contact Sanchez Manning at sanchez.manning@rdfmedia.com or call on 0207 013 4289.

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Talk about the BBC being a VI! They don't seem to want to ever air any views suggesting that current house prices are bad for society, bad for the economy, and that a correction is the best thing that can happen for the vast majority, but want to support ridiculous notions like shared ownership by making whole shows about them! Where's the in depth analysis about the fact that the need for shared ownership schemes indicates a declining quality of life for our key workers?

What about a show where demoralised key workers who can't afford their own homes take their skills abroad and enjoy a better quality of life? I'd watch that one!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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