KFH boss reveals £750 cost-of-living payment for all full-time staff

The boss of estate agency giant Kinleigh Folkard & Hayward (KFH) has told staff they will receive a one-off £750 payment within their next pay packet to help them cope with the cost of living crisis.

The cash boost was announced by Managing Director Lee Watts (pictured) during the firm’s recent annual awards bash at Old Billingsgate, who revealed that he would apply the payment to all full-time staff across its 60 branches and ten business divisions.

KFH says the move will cost it £700,000, suggesting some 930 staff will be getting the cash.

“My directors and I are very aware of the challenges people are facing in relation to the current cost of living situation,” he said.

“We have an incredible culture here at KFH and we know this is due to our people. We wanted to recognise their hard work and commitment, and we hope this payment will provide some assistance.

“I was extremely proud we were able to retain our workforce on their full salaries when the property market shut down during the pandemic, and I am proud we are in a position to support our people through another difficult period.”

Payments

KFH joins a long list of firms which have given staff cost-of-living payments including Lloyds Bank (£1,000); Barratt Developments (£1,000); Nationwide (£1,200); Cooperative Bank (£1,000); HSBC (£1,500) and estate agency West Coast Properties (£750).

In December all three portals said they wouldn’t be offering discounts to agents during the economic downturn this year.