This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6048982.stm
The article has changed 6 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Key worker housing 'is mis-sold' | Key worker housing 'is mis-sold' |
| (about 1 hour later) | |
| Subsidised flats meant for nurses and teachers in London are ending up in the hands of well-paid professionals and top executives, the BBC has discovered. | Subsidised flats meant for nurses and teachers in London are ending up in the hands of well-paid professionals and top executives, the BBC has discovered. |
| An investigation by the BBC's Five Live Report centred on Chelsea Bridge Wharf by the River Thames, where a two-bed luxury flat costs more than £500,000. | An investigation by the BBC's Five Live Report centred on Chelsea Bridge Wharf by the River Thames, where a two-bed luxury flat costs more than £500,000. |
| It found that 40% of the subsidised flats had been sold to people who weren't key workers. | It found that 40% of the subsidised flats had been sold to people who weren't key workers. |
| A probe by the UK government has found this was a problem nationwide. | |
| According to the government's own evaluation of shared ownership schemes, one in three properties have gone to someone who could afford to buy the home on the open market. | According to the government's own evaluation of shared ownership schemes, one in three properties have gone to someone who could afford to buy the home on the open market. |
| In the north of England, 80% of those people living in shared ownership properties could afford to buy their own home, the government said. | In the north of England, 80% of those people living in shared ownership properties could afford to buy their own home, the government said. |
| 'Designer wear' | 'Designer wear' |
| The problems have surfaced at a time when government is trying to find ways of helping key workers buy houses in areas where prices have surged. | The problems have surfaced at a time when government is trying to find ways of helping key workers buy houses in areas where prices have surged. |
| The Housing Corporation receives almost £1bn to support shared ownership schemes mainly in the South East. | The Housing Corporation receives almost £1bn to support shared ownership schemes mainly in the South East. |
| I do bump into people in the lift who are dripping with designer wear and I think I'm sure you're not even a head teacher Jessica Hardy, teacher | I do bump into people in the lift who are dripping with designer wear and I think I'm sure you're not even a head teacher Jessica Hardy, teacher |
| In London, the Chelsea Bridge scheme is run by the Threshold Housing Association, which received £2.2m in funding from the Housing Corporation. | In London, the Chelsea Bridge scheme is run by the Threshold Housing Association, which received £2.2m in funding from the Housing Corporation. |
| As a result, one block of the riverside development was set aside for key workers, but when the BBC checked the list of residents included several accountants, a bank manager and a buyer at Harrods. | As a result, one block of the riverside development was set aside for key workers, but when the BBC checked the list of residents included several accountants, a bank manager and a buyer at Harrods. |
| In the penthouse top floor flats were an orthodontist , a housing association worker and a financial controller for a FTSE 250-listed company. | In the penthouse top floor flats were an orthodontist , a housing association worker and a financial controller for a FTSE 250-listed company. |
| Jessica Hardy is a 34-year-old teacher from Battersea who also lives in the block and who says she has long suspected that many of the apartments have not gone to key workers. | Jessica Hardy is a 34-year-old teacher from Battersea who also lives in the block and who says she has long suspected that many of the apartments have not gone to key workers. |
| "I do bump into people in the lift who are dripping with designer wear and I think I'm sure you're not even a head teacher," Ms Hardy told the BBC. "They don't look like doctors and teachers to me." | "I do bump into people in the lift who are dripping with designer wear and I think I'm sure you're not even a head teacher," Ms Hardy told the BBC. "They don't look like doctors and teachers to me." |
| Different measure | Different measure |
| Threshold Housing said that on this particular scheme they used their own definition of a key worker. | Threshold Housing said that on this particular scheme they used their own definition of a key worker. |
| They explained that while some people did not qualify as key workers, some others, including the Harrods staff, would be eligible because of the levels of their salaries. | They explained that while some people did not qualify as key workers, some others, including the Harrods staff, would be eligible because of the levels of their salaries. |
| There are some very upmarket developments where even on shared ownership you have to have a very high income to get in Professor Steve Wilcox, York University | There are some very upmarket developments where even on shared ownership you have to have a very high income to get in Professor Steve Wilcox, York University |
| Dr Phyliss Starkey MP called for the Housing Association to investigate how its £2.2m grant to Threshold to subsidise rents at Chelsea Bridge Wharf was spent. | Dr Phyliss Starkey MP called for the Housing Association to investigate how its £2.2m grant to Threshold to subsidise rents at Chelsea Bridge Wharf was spent. |
| "I would be interested in the Housing Corporation having a look at the detail of this housing development," she said. "I would want to know it was satisfied that £2m of public subsidy had been well used." | "I would be interested in the Housing Corporation having a look at the detail of this housing development," she said. "I would want to know it was satisfied that £2m of public subsidy had been well used." |
| Professor Steve Wilcox, a housing expert from York University, questioned the wisdom of trying to put affordable housing in expensive areas. | Professor Steve Wilcox, a housing expert from York University, questioned the wisdom of trying to put affordable housing in expensive areas. |
| "There are some very upmarket developments where even on shared ownership you have to have a very high income to get in," he explained. | "There are some very upmarket developments where even on shared ownership you have to have a very high income to get in," he explained. |
| "In terms of targeting resources most effectively, frankly it would be better to take the cash from the developer to develop affordable housing in more modest areas," Professor Wilcox added. | "In terms of targeting resources most effectively, frankly it would be better to take the cash from the developer to develop affordable housing in more modest areas," Professor Wilcox added. |
| Simon Cox's report can be heard on Radio Five Live on Sunday 15 October at 1100 and 1930 | Simon Cox's report can be heard on Radio Five Live on Sunday 15 October at 1100 and 1930 |