Key Worker Rip-Off

The much-heralded ‘assistance’ to public sector workers is actually no more than a great swindle as among other things 25% is taken from any increase in value. This must be the most lucrative finance deal around. Why are teachers, nurses and policemen and women being treated as common debtors and a licence to print money? Instead of abusing key workers, higher salaries should be paid. The restrictive contracts prevent borrowers from enjoying the benefits of having a home that those working in the private sector take for granted. The loans unfairly forbid the renting out of a property and must be repaid in two years after being made redundant regardless of whether or not alternative employment has been found. Talk about having one’s cake and eating too. The icing on this cake are the repayment conditions. Low-income borrowers are not allowed to repay the original loan sum. Instead they have to repay the initial sum plus a cut for the lender. All the lender i.e. the outsourced government department run by former central governemnt civil serpents, has done is sat on its backside and filled in a few forms. The owner of the property, on the other hand, has spent time and effort finding somewhere, arranging a mortgage, perhaps redecorated and paid the bills.

robin hood

Our advice to those thinking about signing up to one of these schemes is don’t. Find yourself a mortgage with higher income multiples as you’ll have the freedom to change when your personal circumstances do.
This is another example of the DfES and the Labour Party – cash-for-honours, casinos, Saudia arms deals – robbing the poor to pay the rich. Where’s Robin when you need him?

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