HSA helps its employees get on the property ladder

Soaring house prices and rising interest rates mean it’s increasingly difficult for first time buyers, but HSA, part of the Simplyhealth Group, is helping employees make that important first step on the property ladder with its innovative ‘Save to buy’ scheme.

Launched 2 years ago, the HSA ‘Save to buy’ scheme, has proved successful, with 20 employees having already purchased their first home via the scheme and a further 25 are currently saving.

Under the ‘Save to Buy’ scheme, HSA match an employee’s own savings, between 3% and 6% of their salary. When the employee is ready to buy their first home, HSA will pay their contribution in a lump sum.

Lee Nicholls, Employeer Brand and Values Manager, at HSA, explains, “According to the Land Registry, the average house price in Andover is just over £210,000 and as a result it is becoming increasingly difficult for our younger employees to buy a house in the local area. By joining this scheme our employees can double their savings, which can help them get on the property ladder more quickly and easily.”

Carol Hanks is just one of 20 employees who joined the scheme and purchased a house. Carol explains, “I joined the ‘Save to buy’ scheme because like other people, I was struggling to save enough for the deposit for my first home and house prices in Andover had risen. Knowing that HSA would match whatever I saved helped ease some of the financial burden and halved the amount of time I had to save. I’ve now been able to buy a home in Andover, close to where I work at HSA.”