Barratt Homes and David Wilson Homes have generously allocated £2.4 million in deposits for key workers in the South West. However, for many beneficiaries of this scheme, the revelation remains an unexpected surprise.
The pandemic cast a shadow over the plans of numerous couples, including new to the area, Emilie and Sean Lloyd. For them, it translated to a wedding without the grandeur of a family celebration during lockdown, the birth of a child who only encountered his parents for the initial five months of his life, and a pause on acquiring a new home for their growing family until the assumed time when their child would commence school, and they could save enough to secure a family home.
Fate intervened when Sean stumbled upon an advertisement detailing the key worker deposit scheme at Orchards View in Wichelstowe, a development by Barratt Homes – a scheme the couple thought must involve a special interest loan.
“We had driven past this development many times and loved the very beautiful and individual style of the houses. Each one is different and the green spaces around it are stunning,” says Emilie.
“But for us it was a bit of a pipe dream after the pandemic. We hadn’t long moved to the area after I was offered a job teaching French and Spanish at a local secondary school (Sean works from home) and we thought while we saved, and with mortgage rates going berserk, we’d have to wait a while.”
To their surprise, they discovered that the scheme was a one-off contribution to the deposit, requiring no repayment. This meant that the couple could proceed with the home purchase immediately.
The scheme is designed to help a range of key workers including the NHS, teachers, police and fire services, MOD, local authorities, probation and prison services, environmental service and national highways.
Under the scheme, key workers are offered £1,000 as a deposit contribution for every £20,000 of a home’s purchase price. So, for a home that costs £240,000, key workers qualify for a contribution of £12,000 alongside funding for flooring worth up to a further one per cent of the value of the property.
Andrea Pilgrim, sales director for Barratt Homes Bristol, said: “We understand the immense contributions key workers make day in and day out. Providing them with a helping hand will enable them to put down roots in the communities they serve.”
“It was the most lovely and astonishing surprise, says Emilie. “We dared ourselves to go and look and did some research about the locality. We were so encouraged by the thought Barratt had put into the layout of the development, and into the community where Orchards View sits.
“When we chose our house, it felt really special, a forever home and so unique and so us. And picking out flooring (also included in the scheme) and the fittings made it feel like Christmas. And we will be in by Christmas!”
The Show Home at Orchards View is set to open on November 11th, providing an opportunity for prospective homeowners to explore the possibilities. More information about the key worker deposit scheme can be found on Barratt Homes’ website.
