Shot In The Arm For NHS Homebuyers, UK

Main Category: Public Health
Article Date: 06 Sep 2008 - 1:00 PDT

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Health workers across England must act quickly to benefit from the Government's first aid housing package, the leading independent mortgage broker, NHS Mortgage Services, advised today.

NHS Mortgage Services - part of NHS Discounts, which provides an exclusive voluntary benefit service to the NHS and has more than 550,000 registered members - believes yesterday's Government housing announcements could offer a welcome tonic for thousands of NHS workers striving to get onto the property ladder. But the broker warned that competition is likely to be fierce.

The company is advising its client base to register early expressions of interest, to avoid missing out on the Government's £300 million 'HomeBuy Direct' scheme pledged for first time buyers.

Chris Heather, Chief Executive Officer for NHS Discounts said: "Yesterday's package of measures will come as welcome news to many health workers struggling to buy their own homes. The increase in stamp duty threshold has captured the most public attention, but the prospect of a £300 million equity loan scheme - something of a footnote in yesterday's announcement - promises to be just as significant. This stands to help NHS employees meet the ever more stringent demands of mortgage lenders, who require weighty deposits.

"Although details of the scheme are still to be revealed, the Government has made it clear that these loans will be allocated on a first come, first served basis. It's vitally important, therefore, that NHS staff do everything they can to position themselves at the front of the queue."

The company is fully authorised to assist NHS staff gain access to equity funding aimed at key workers through the existing Government-backed HomeBuy schemes. It is now offering country-wide seminars, to explain the implications of the Government package, and help untangle the complex world of equity funding for prospective housebuyers. NHS employees can also register their interest at http://www.nhsdiscounts.com/homebuy to receive regular updates and advice as details emerge on the new housing package.

Chris said: "Our advice to NHS employees is to keep in the loop. The fine detail of the Government's housing package is expected to come thick and fast over the ensuing weeks and months. We are committed to keeping our members informed, and provide them with sound, independent advice.

"We are also ready to visit NHS workplaces across the country, to discuss the opportunities in person."

NHS Trusts who would like to book a free HomeBuy advice seminar at their workplace can contact the NHS Discounts team on 0845 122 2014.

Notes

- NHS Mortgage Services is committed to helping NHS staff find the right deal. The company is able to offer exclusive mortgages for NHS employees and is an expert in shared equity schemes.

- The brokerage service is part of NHS Discounts - the voluntary employee benefits programme with more than 550,000 members in NHS Trusts across the UK.

- NHS Discounts provides members with a free discounted shopping service, spanning hundreds of goods and services. One in three of all NHS employees have signed up to the scheme, and membership is growing at a rate of 3,000 per week.

NHS Discounts