Liverpool-based pub and restaurant group Circle & Hen is offering its employees looking to get on the housing ladder an interest-free 5% deposit loan, the latest initiative from a hospitality group to retain staff.
The group has three sites, the Jubilee in Litherland (pictured), the Hoggins Irish pub and the Thatch & Thistle in Southport, and intends for the loans to help first-time buyers in the group.
A spokesperson for Circle & Hen said: "We have been investigating other industries which encourage growth for their employees, both personally and commercially. Hospitality has always had its own superstars, but we wanted to really create a benchmark in terms of support and recognition. Within Circle & Hen group, we have recently developed our own, detailed 15-year business development blueprint, and so obviously it made sense to us to discuss recruiting, retaining and investing in staff.
"We also consulted with our current personnel to gain valuable feedback and their message was clear: they desire both job and personal financial security. This scheme has been well thought-out and transparent and has an end point: should an employee then sell their property, then that initial 5% interest-free loan would be returned to us. As property prices are rising in the area, we know from talking to our employees that this is a fair transaction for everyone involved… We also know that young people in particular feel excluded from the housing market, and so it makes business sense for us to help them build their futures, both in and out of the workplace."