Key worker discount on house purchasing

[WanderingStarofNorthernLands]

Hi,

I need to buy another house as the family home (mortgage free) is going on the market next month. I’ve seen some new builds that are offering a 15% discount to key workers (I’m NHS) which would be around £30k off what I’d need for a mortgage. This would reduce my mortgage payments significantly.

Has anyone done this sort of thing and is it an offer too good to be true?

Forgot to mention this is a divorce sale. I’ll get 50% of the FH.

I've seen these offers and I'm a bit 😮.
Why would a an NHS manager or an army Major get discount off a house when a low paid cleaner or me in my office job wouldn't.

I'm surprised no one has challenged these.

It’s so all the key workers don’t move out of expensive areas, otherwise there’ll be no nurses, teachers etc. left in London etc. It’s a good idea. I took advantage of a similar scheme when I was a teacher & it worked out well.

Are there any eligibility criteria that you need to meet, other than just being a key worker?
With the key worker scheme I saw, you needed to be a first time buyer, had to have a joint household income below a certain amount and the house had to be below a certain amount after the discount.
I’m not sure that the scheme you’ve looked at is something different to the one I looked at. Worth checking the eligibility criteria!

They're for first time buyers aren't they?

How do you define key worker?

I thought these schemes were for key worker FTBs too but could be wrong. Something to check anyway @WanderingStarofNorthernLands

Apart from that, I don't see any downsides as long as you are eligible. Apart from the usual one with any new build property which is that they tend to reduce in value in the short term once someone moves in and they can no longer be marketed as brand new. Not a problem if you intend to be there long term.

I’ve made an appointment with them next week to find out more. The key worker list includes NHS.

Good Luck @WanderingStarofNorthernLands and yes NHS staff are rightly classified as key workers. I just know some key worker schemes are aimed at FTBs but maybe not all of them I don't know.

It probably is for FTB but worth asking.