The BBC has reduced its much-criticised relocation package for journalists moving from London to Salford.
The corporation is moving 1,630 jobs – including those in sport, children’s, and Radio 5 Live – from London to the Salford MediaCity centre.
Last month, it emerged the BBC would guarantee 95 per cent of the value of any relocating journalist’s London home.
If a property sells for between 85 and 100 per cent of its market value, the relocating journalist will keep the excess. If it sells for less than 85 per cent, the BBC will take the burden.
If it sells for more than 100 per cent of its market value, the BBC will keep the excess.
The BBC is employing a specialist relocation company, Cartus, for the guaranteed house purchase scheme.
If staff sell their own homes, they will be given a taxable allowance worth 10 per cent of their salary.
The BBC also announced today a £1,900-a-month payment to property owners who may need to delay moving home, intended to cover rent, utility bills and a weekly return journey between Manchester and London for up to two years.