House purchase plans

Innovative employer’s help staff get on the property ladder

Company pensions are an attractive perk but many require staff to make a contribution. That is why people in their twenties, struggling under student loan repayments and desperate to buy their first property, often decide not to join.

Would-be first-time buyers who do not want to join some company pension schemes are being offered a house purchase plan, under which the employer contributes a percentage of the employee’s salary for two years into a savings account dedicated to funding the deposit. To benefit from the scheme employees must also put the same percentage of salary aside each month.

Once the property has been bought the company pays the same percentage of salary towards the employee's mortgage for the next three years, reducing over the next four years. As the mortgage contribution is phased out, the employee is moved back into the pension scheme.

These "flex" schemes effectively give employees an annual allowance to spend on a menu of benefits and let you tailor the benefits to your needs.

If you require any further information about the services that we provide or would like to review your financial planning position, please contact us

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