States loan boost for home buyers

Ministers are finalising details of a new States-funded programme to provide low-interest loans to Islanders who cannot afford to put down a deposit on a mortgage.

Although full details have not been released, it is likely that loans of up to £150,000 will be made available.

The money would only be available to first-time buyers and would have to be used to put down a deposit on a property.

The scheme, which would be funded from the States Dwelling Homes Fund, will be launched before the end of the year if it is approved by the States in the autumn.