We recognise that living in London is expensive, and have put in place a range of support to help you secure appropriate housing and settle in the capital.

Eligible Crick employees and students on our PhD programme who are moving to the UK to join us can request a 12-month interest free loan that can be used for rental deposits or to cover relocation costs. Eligible employees who are moving home during their employment may also request loans.

Who is eligible?

Loans of up to £1,750 are available to Postdocs, LRS, and PhD students who are relocating to London (from the UK or overseas) to work at the Crick for tenancy deposits or to cover relocation costs. You must also meet the following criteria:

• Your employment contract or studentship agreement has started and lasts at least the same duration as the agreed repayment period.
• Your net monthly pay is sufficient to cover the monthly loan repayment
• You have neither served notice of resignation nor voluntarily chosen to end your employment/studentship.
• You are not involved in any formal disciplinary, sickness, or performance proceedings that could lead to your dismissal.
• You are not subject to an active, final written warning.
• The total of any loan(s) you have with the Crick (e.g., season ticket loan, cycle scheme, gym) does not exceed £10,000. 

Loans may also be offered to Operations staff and Group Leaders who are relocating to London to work at the Crick and meet these criteria, provided budget is available.   

Loans may also be made available to existing employees/PhD students who are moving during their employment/studentship and meet the above criteria, if budget allows.   

Loans are available only to staff in receipt of regular payments through payroll at a level sufficient to meet the monthly repayment obligation. Your People Partner can advise on eligibility. 

Tenancy deposit loans

Deposit loans will only be granted if the rental deposit is held by a landlord in a government-backed Tenancy Deposit Protection Scheme – TDP: https://www.gov.uk/tenancy-deposit-protection

It is your responsibility to pay the deposit to the landlord and ensure you obtain evidence that the landlord is a member of a government-backed Tenancy Deposit Protection scheme. This evidence must be submitted with this application. 

• What is acceptable evidence?

A copy of an email to the landlord from the Deposit Protection Service – DPS showing the landlord’s DPS identification number, or evidence that the deposit has been placed, which must include your landlord’s confirmation of how the deposit is protected, along with the name and contact details of the TDP scheme and its dispute resolution service (you will only have this if you are applying for the loan retrospectively and have already paid your deposit at least 30 days ago). 

• What is unacceptable evidence?

A letter from the landlord (i.e., not originating from the DPS) that provides their DPS ID, along with any other documents that have either not been issued by the DPS or do not provide evidence that the deposit has been placed. 

Before paying your rental deposit, please ensure you have taken appropriate precautions against rental fraud. The Action Fraud website has some advice on protecting yourself against rental Fraud Full loan repayment is still required if you fall victim to rental fraud. 

Relocation loans

• Loans to cover the costs of relocation such as removal costs, cost of domestic goods for the new residence, travel costs and end of tenancy costs in current accommodation are available to eligible employees and students on our PHD programme relocating from outside the UK or moving to London from within the UK.
• Relocation loans may also be available to eligible employees and students relocating during their employment/studentship.
• To comply with HMRC regulations for the provision of interest-free loans, you will need to email receipts covering the value of the loan to people@crick.ac.uk within 28 days receiving loan payment. Copies of receipts will be retained by the Crick for the duration of the loan. 

When will the loan be paid and deductions from pay start?

Approved loans will be advanced as a non-taxable addition to your normal salary, paid into your bank account along with your salary payment. Provided your application is submitted and approved by the last working day of the month, the loan will be advanced in the month following your application. The loan repayment period will depend on the loan amount and will be agreed upon between you and Crick. It typically lasts between six and twelve months. 

How to apply

To apply for a loan, once you are at the Crick, please apply on Workday.

If you cannot access Workday yet, you can request a copy and return the completed form to people @crick.ac.uk if you are an employee, or to student@crick.ac.uk if you are a PhD student.

Leaving the Crick

If you leave for any reason before repaying the loan in full, you must reimburse the Crick for the remaining loan amount. The outstanding loan balance will be deducted from the final payment you receive. Payment for these purposes includes (but is not limited to) salary/stipend, accrued annual leave, and outstanding expense claims. 

If your final payment is insufficient to cover the entire deduction, or if the Crick agrees, at your request, to allow additional time for repayment of the outstanding amount, you will need to sign and commit to a separate repayment agreement. This agreement, which will be discussed with you, will outline the amount to be repaid and the number of payments that must be made within six months of your departure.   

If you do not repay the loan in full before leaving, the Crick will:  

• notify the Inland Revenue, and you may incur a tax charge. 
• initiate legal action to recover the outstanding amount.

Terms and conditions

If you take out a loan under this policy, you have a responsibility to ensure:

• You can repay the loan within the agreed repayment period.
• The loan is used solely for a rental deposit and/or relocation expenses. Using a loan for purposes other than intended is a disciplinary offence that could lead to dismissal.

Tenancy Deposit loans will only be grated if the rental deposit is held by a landlord in a government backed Tenancy Deposit Protection Scheme.  Should the landlord make any deposit deductions when the tenancy ends, full repayment of the loan is still required.

For relocation loans, to comply with HMRC regulations for the provision of interest-free loans, you will need to email receipts covering the value of the loan to people@crick.ac.uk within 28 days receiving loan payment.  Copies of receipts will be retained by the Crick for the duration of the loan.

In deciding whether to provide a loan, the Crick may consider:

• The total of any other loans advanced to you by the Crick.  To comply with HMRC regulations, this must not exceed £10,000. 
• Your ability to repay the loan, considering your salary, stipend, contract or studentship length and other financial commitments or loans.
• Any other extenuating circumstances.

The Crick will decide at its sole discretion whether to grant the requested loan and whether to provide the full amount of the requested loan.  The Crick reserves the right to deny a loan application on any grounds it considers appropriate.

If you leave for any reason before repaying the loan in full, you must reimburse the Crick for the remaining loan amount.  If you do not repay the loan in full before leaving, the Crick will:

• notify the Inland Revenue, and you may incur a tax charge.
• initiate legal action to recover the outstanding amount. 

Have any questions?

If you have any questions or feedback, please contact people@crick.ac.uk. 

If you have a query about the timing of your advance or your repayment, please contact payroll@crick.ac.uk.