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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.

A)Relocation Expenses

    1. 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.
    2. 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.
    3. 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.
    4. 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.
    1. 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.
    2. 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.

    B) Relocation Supplement

    C) House Loans

    1. 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.
    2. 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.
    3. 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
    4. Enquiries and applications for house loans should be addressed to the Director, Financial Planning & Strategy.

    Relocation Expense Scheme - Frequently Asked Questions

 

This page last modified March 22, 2013 by Web Editor

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