FAQS for Key Workers
What happens if I stop being a key worker?
If you are a key worker and leave your eligible employment, you will have to repay English Partnerships entitlement within five years from the date when you left. This is called clawback. You can do this by staircasing or selling on the open market. It is a legal condition of your English Partnerships buyers’ charging document and mortgage deed that you let us know in writing within seven days of changing or leaving your job.
What Happens If I am a Key Worker and I Retire or made redundant?
The Clawback rules will not apply where a Key Worker leaves employment because they retire, provided that a minimum of 5 years continuous employment has been undertaken since the qualifying Key Worker help was granted, or if they are made redundant.
Does a career break mean I have to pay English Partnerships entitlement back?
Not always, if you are a key worker you can have an agreed career break for up to three years. If you choose not to go back after this three-year period you will no longer be a key worker on the last day of the three-year period. You will then have five years after this three-year period, before we enforce the repayment terms (see page X). You can agree a career break with your employer for up to 12 months. If you want to take a longer career break than this (up to 36 months), you must also get our permission.
You will still be legally responsible for any fees due on your FTBI home as they arise during any career break.
What happens if the rules change after I buy and I’m no longer a priority or eligible as a key worker? Do I have to pay all the cash back?
No – we will judge whether you are eligible against the conditions which applied at the time you were given financial help to buy your home through the FTBI scheme. So if the scheme rules change, you will not be affected.
Who provides the contribution for FTBI?
This is provided by national regeneration agency, English Partnerships, and is delivered through HomeBuy Agents as part of the Government’s HomeBuy programme.
Are there any restrictions on the properties that I can buy?
All FTBI homes are on new-build developments where English Partnerships has an agreement with the housebuilder or Registered Social Landlord. You can only buy from these particular schemes.
To make sure that families have access to the scheme, we only allow you to buy a property with one bedroom more than you currently need. We will assess this as part of the process of approving your eligibility.
Can I use cash from my council, housing corporation, registered social landlord or other public-sector organisation to buy with extra help through FTBI?
No – you cannot combine any other publicly-funded assistance through schemes such as Right to Buy, Right to Aquire, KWL or HomeBuy with FTBI.
Can two key workers buy together to get double the English Partnerships help to buy a FTBI home?
No, assessment of assistance is calculated on a household even if it is two key workers, we will take your joint income into account to assess the help available.
Your home may be repossessed if you do not keep up payments on a mortgage or any other debt secured on it.
Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.