Barratt Developments Scotland extends Key Worker Scheme | Project Scotland

BARRATT Developments Scotland has confirmed plans to extend its deposit contribution scheme to more key workers.

Across the UK, the Key Worker Deposit Contribution Scheme has been extended to include the 37,000 employees and volunteers of the Royal National Lifeboat Institution (RNLI), as well as 60,000 foster carers.

The scheme, originally launched in 2022 to celebrate the 75th anniversary of the NHS, now supports more key workers to afford a new home by helping to pay their deposit.

So far, Barratt Developments Scotland has given support totalling around £5.6 million to key workers through the sale of 350 of its properties in Scotland.

In addition to support for this NHS, workers across the UK 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.

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 1% of the value of the home.

Douglas McLeod, regional MD for Barratt Developments Scotland, said, “Our Key Worker Deposit Contribution Scheme has already helped more than 350 buyers in Scotland to purchase a low-carbon, energy-efficient home. While mortgage rates are gradually falling, many buyers continue to face difficulties in finding an affordable home that meets their needs. We are proud to extend the scheme to support those who dedicate themselves to exceptional and selfless work both with the RNLI and in foster care services.”

Dave Nicoll, fundraising partnership lead at the RNLI, added, “We are delighted to join this scheme and work with Barratt Developments Scotland to provide RNLI employees and volunteers the opportunity to purchase their own home.”