Housebuilder extends key worker deposit contribution scheme

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Barratt Homes and David Wilson Homes Yorkshire East, part of the country’s biggest housebuilder, are extending the deposit contribution scheme to thousands more key workers.

The scheme has been widened to include the 37,000 employees and volunteers of the Royal National Lifeboat Institution (RNLI), as well as the country’s 60,000 foster carers.

Launched in 2022 to celebrate the 75th anniversary of the National Health Service, the deposit contribution scheme now supports more key workers by helping to pay their deposit on a new home.

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In addition workers in the education sector, Police Force, Fire Service, Ministry of Defence, Environmental Service, National Highways, Transport Scotland & Transport for Wales, Probation Service, the Local Authority, and the Prison Service have all enjoyed support to get on to the property ladder, take a step up, or even to downsize.

So far, Barratt Homes and David Wilson Homes have given support totalling around £34m to more than 2,000 key workers across the UK.

The scheme means key workers can be offered £1,000 as a deposit contribution for every £20,000 of a home’s purchase price. So, for example, on a home costing £325,000, key workers would qualify for a contribution of £16,250.

As well as the deposit contribution, the housebuilder is also offering flooring, worth up to a further one per cent of the value of the home.

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Daniel Smith, managing director at Barratt Homes & David Wilson Homes Yorkshire East, said: “Our Key Worker Deposit Contribution Scheme has already helped more than 2,000 buyers to purchase a low-carbon, energy-efficient home.

“While mortgage rates are starting to come down, many buyers are still struggling to get into a home that fits with their lifestyle. We’re now extending the scheme to include those who do outstanding and selfless work both with the RNLI and foster care services.”

Dave Nicoll, fundraising partnership lead at the RNLI, said: “We are delighted to join this scheme and work with Barratt and Wilson Homes to offer RNLI employees and volunteers the chance to buy their own home.”

Barratt Developments currently has a range of quality new homes in and around Hull, includingHesslewood Park in Hessle; Queens Court and Minister View in Beverley; and Harrier Chase, Hawk View and Stirling Park in Brough.

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For more information on the Key Worker Deposit Contribution Scheme, please visit https://www.barratthomes.co.uk/offers/key-worker-deposit-contribution/ for Barratt Homes or https://www.dwh.co.uk/offers/key-worker-deposit-contribution/ for David Wilson Homes.

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