Barratt Homes Increases Deposit Contribution for Cornwall’s Key Workers to £25,000

A leading housebuilder in Cornwall has announced a major increase to its deposit support for key workers, raising the potential contribution from £15,000 to £25,000.

According to the Office for National Statistics, the scheme could apply to around 41% of Cornwall’s workforce.

Bigger Boost for Public Sector Workers

Barratt Homes will now contribute £1,000 towards the deposit for every £20,000 spent on the purchase price, up to a maximum of £25,000. For example, on a property costing £300,000, the home buyer would receive £15,000 towards their deposit.

The scheme, which was originally launched to mark the 75th anniversary of the NHS, has also been extended to cover more frontline workers. Newly eligible roles include social workers, nursery workers, pharmacists and a larger group of NHS response workers.

Other qualifying professions include those in the NHS, education, police, fire service, Ministry of Defence, environmental services, National Highways, Transport Scotland and Transport for Wales, probation and prison services, local authorities, the RNLI and foster carers.

“Making a Real Difference”

Richard Lawson, Sales Director at Barratt Homes Bristol, said:

“Our Key Worker Deposit Contribution scheme has been well received across the country, and we’re pleased to help essential workers in the public sector take their first or next step on the property ladder.”

He added:

“We know how vital key workers are to our communities, and we’re proud to increase our support to help them make that all-important move. Boosting our deposit contribution to up to £25,000 is another way to show our appreciation and making a real difference where it matters.”

Homes Available in Cornwall

Barratt Homes are currently building high-quality and energy efficient homes across Cornwall, including at Pen Bethan in Falmouth and Treledan in Saltash. Wherever you are in your new home journey, Barratt Homes is here to support you and offers a range of schemes including Part Exchange Guarantee and the Key Worker Deposit Contribution Scheme. 

National Context

Figures from Foundation Home Loans show there were an estimated 5.95 million public sector employees in the UK in March 2024, up 24,000 from December 2023 and 125,000 from March 2023. The NHS alone employed around 2.02 million people, an increase of 79,000 year-on-year.