Starbucks Offers Housing Loans to U.K. Staff – NMP Skip to main content

Starbucks Offers Housing Loans to U.K. Staff

Sep 28, 2015
Rental Property Pic

Starbucks has entered the British housing market with a new program that offers interest-free loans to their United Kingdom staff to help cover deposits on rental properties.

According to a CNBC report, British workers who have been with the coffee giant for at least one year are able to apply for an interest-free loan that is equivalent to one month’s wages for use in covering the costs of a deposit on a rental property. The U.K. version of Starbucks has been on the receiving end of negative publicity for paying low wages, and Starbucks’ EMEA President Kris Engskov stated that this program is designed to help attract and maintain a dedicated workforce.

"We want our partners to be able to live as close to work as possible. It's an issue with our proximity to cities and one of the problems with having much of our business in areas like Central London where it's too expensive to live in the city center," Engskov said.

If approved, the loan will be originated four weeks after the application is received, and workers will pay back their loans through wage deductions over the next 12 months Starbucks will also increase its U.K. minimum wage payments to $10.96 per hour, which meets the voluntary living wage guidelines for the U.K. The Starbucks staff in London will be paid an additional premium.

The company has not announced any plans to make a similar program available on this side of the Atlantic.

About the author
Published
Sep 28, 2015
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Sep 23, 2026