The Newshound

Teacher-nurse couples earning £93,000 will be locked out of Burnham's new 'Help to Buy' scheme in London

For Sale boards outside homes like those Labour's 'Your First Home' scheme targets, offering a 20% equity loan — but critics warn its £90,000 income cap locks out key workers across London.
For Sale boards outside homes like those Labour's 'Your First Home' scheme targets, offering a 20% equity loan — but critics warn its £90,000 income cap locks out key workers across London.

Couples in public-sector jobs such as teaching, nursing and policing face exclusion from Labour's revived Help to Buy scheme because of a £90,000 combined household income cap that critics warn is far too low for London. A police officer on £48,000 and a teacher on £45,000 would jointly earn £93,000 — just £3,000 above the threshold — barring them from the 20% equity loan on offer. London Mayor Sadiq Khan backed the scheme at Mayor's Question Time but confirmed City Hall is lobbying the government to raise the income limit.

The 'Your First Home' scheme offers a 20% equity loan, a 2.5% minimum deposit and an initial interest-free period.

Critics warn the income cap 'locks out millions' across London and the South East where salaries and house prices are highest.

Khan's backing comes with a catch: even he admits the current threshold is inadequate for the capital.

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