The University is introducing a pilot rental deposit loan scheme to support new staff with the upfront cost of securing accommodation in the Oxford area.
From 1 June 2026, eligible new starters will be able to apply for an interest-free loan of up to £3,000, repaid through salary over 12 months.
The scheme is part of the Pay & Conditions programme and supports the University’s commitment to being a diverse workplace by addressing some of the financial barriers that can hinder people moving to the Oxford area.
What is this being introduced?
Oxford has one of the most expensive rental markets in the UK, with upfront costs often exceeding £4,000.
This can make it difficult for some new staff to relocate, particularly:
- international colleagues,
- early-career researchers,
- technical and professional services staff,
- those without access to savings.
The scheme provides practical support at the point of joining.
Who can apply for the loan?
The scheme is open to eligible new salaried staff who are relocating to the Oxford area.
Full eligibility criteria is available on the Rental Deposit Loan Scheme website.
How does it work?
Eligible new staff can apply for a loan of up to £3,000. The loan can only be used to cover the deposit on rental accommodation within 25 miles of Oxford. Once the loan has been approved and the funds have been paid out to them, repayments to the University will be made over 12 months and deducted from their salary (in line with the University’s other loan schemes). Please note that applications will require departmental approval, and supporting documentation, including a tenancy agreement, will also be necessary.
What should new staff consider before applying?
The scheme is designed to support relocation, but it cannot be allocated towards housing costs other than the deposit on your rental accommodation. Before applying for the loan, new staff should:
- check that they meet the eligibility criteria,
- understand the repayment commitment,
- consider their personal financial circumstances.
Next steps
Recruiting managers and HR teams should ensure that eligible candidates and new starters are aware of the scheme and know where to find further information.
Questions
For further details, please visit the Rental Deposit Loan Scheme website.