Relocation Expenses Guide
The following three elements of the Relocation Scheme apply to newly appointed academic staff (Lecturer through to Professor) and senior administrative staff (Grades 9 and 10) who relocate their home to take up an appointment with UCL on or after 1st August 2001, in order to significantly reduce their travelling time to work.
- To be eligible, staff must have an open ended contract of employment. Relocation expenses will not be available to staff whose salaries are financed by external grants.
- Should a member of staff in receipt of relocation expenses voluntarily leave UCL within 36 months of appointment, a proportion of the reimbursed expenses will be repayable.
- Applications for relocation expenses will not be considered unless the appointee has moved from the place/town where they were ordinarily resident in order to take up their appointment with UCL and the move makes a significant difference to their travel to work time. Applications must be endorsed by the Head of Department prior to being forwarded to the Director, Financial Planning & Strategy. Cases of doubt about eligibility will be referred to the Dean of the Faculty.
- Relocation expenses up to a maximum of 10% of starting salary (20% of salary if relocating from outside Europe) will be reimbursed in respect of the following expenditure where it is supported by evidence of expenditure:
- Legal expenses in connection with the buying and selling of property, including survey fees. Stamp duty and estate agents’ commission are excluded.
- The cost of transporting the personal effects of the member of staff, a cohabiting partner and dependant children - details of UCL's preferred suppliers can be found at the Relocation - Transport of Personal Effects page.
- The cost of storage of personal effects for a period not exceeding six months.
- The cost of transit insurance and packing.
- The cost of fares including a cohabiting partner and dependant children at normal second class public transport rates or in the case of airfares at economy rates or where applicable the UCL mileage rate.
- An advance of 50% of the relocation expenses may be made up to six weeks before the date of taking up appointment on production of satisfactory evidence of expenditure.
- Applications for relocation expenses must be made to the Director, Financial Planning & Strategy, within six months of the date of commencement of the appointment or such later date as may (in the individual circumstances) be acceptable to UCL.
C) House Loans
- House loans are available towards the purchase of a property to be used as the individual’s main residence. To be eligible, staff must have an open ended contract of employment or a fixed term contract of three years or more in duration. House loans will not be available to staff whose salaries are financed by external grants.
- The maximum loan available is equivalent to one year’s salary and interest is charged at half a per cent above the Bank of England Base Rate. The period of loan repayment is restricted to twenty-five years or the number of years to the normal state pensionable age, whichever is the lower. Both capital and interest repayments are deducted from salary on a monthly basis. Should the employee leave the service of UCL, the balance of the loan outstanding becomes immediately repayable.
- UCL can only act as a second lender which means the member of staff must have a mortgage on the property provided by a UK bank or building society. For UCL loans over £25,000 UCL will need to place a second charge on the property which will require the consent of the first mortgage lender
- Enquiries and applications for house loans should be addressed to the Director, Financial Planning & Strategy.
Relocation Expense Scheme - Frequently Asked Questions
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March 22, 2013
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