Key Worker Bond Scheme
The Key Worker Bond Scheme helps local key workers in need of housing with the cost of accessing private rented accommodation. The council provides a bond to the value of 10 weeks’ rent in place of the normally required cash deposit.
Once a bond has been provided and the tenancy has begun, there is no further involvement from the council. The day-to-day management of the tenancy will be carried out by the landlord or agent as normal.
Key workers
Workers in health roles, adult social care roles, emergency services and teachers are likely to be classified as key workers. A more detailed list is outlined in section 1. For the purpose of this scheme a key worker is defined as“an employee in a role that provides a vital local service that is essential to the wellbeing of society and for which there is a shortage of local labour.” Therefore, if you feel your key worker role meets this definition but is not included in the list in section one, you should contact us and we can decide if you qualify.
Eligibility criteria
- Current or prospective key worker – you must be a key worker as outlined above or have a start date to begin working as a key worker. This does not include key workers in temporary positions. For key workers on fixed term contracts there must be a minimum period of one year remaining on the contract when the bond is issued.
- Have the Right to Rent – this is the immigration check that all landlords must carry out to check that you and those that will live with you have the right to live in the UK.
- Unable to afford a deposit – the scheme is designed to help key workers that cannot afford a cash deposit. If you have enough money to pay a cash deposit you will not be eligible.
- Property is affordable – we will carry out an affordability check to help ensure the property you are proposing to rent is affordable and sustainable.