THE fourth tranche of a scheme which helps Islanders buy their first home has reopened today with £2m of government funding available.
First Step, which helps aspiring homeowners onto the property ladder, is open to applications again from Monday 16 June.
The scheme, which is delivered in partnership with Andium Homes, was launched by Housing Minister Sam Mézec in February last year.
Since then, more than 50 open-market homes have been purchased with £10m of government funding which paid for loans of up to 40% towards the property purchase.
Deputy Mézec said he was delighted to reopen the scheme for a fourth time.
“I have seen for myself how much the scheme has made a real difference to Islanders who would have otherwise been unable to own their first home,” he said.
“It is a meaningful way of tackling Jersey’s housing crisis and giving Islanders hope that they can access homeownership affordably and securely with the help of government.”
Chris Kynicos, sales and lettings lead at Andium Homes, added: “In the first three tranches, we’ve helped numerous individuals, couples and families become homeowners for the first time.
“From their initial application through to the final purchase in court, the Andium Homes team have helped each applicant navigate their way through what can be a daunting task, and one that many may only do once in their lifetime.”
The fourth tranche of the First Step scheme will be open to applications from Monday 16 June for four weeks, closing on Sunday 13 July.
Applicants must:
- hold Entitled status
- not own any property in Jersey or overseas
- be registered on the Assisted Purchase Pathway
- be able to provide a 5 per cent deposit towards the purchase
- be able to access the maximum lending available to them from one of the scheme’s partnering mortgage lenders
- not be under offer on another assisted purchase scheme.
Islanders must be registered on the Assisted Purchase Pathway before applying for First Step. If someone is already registered on the Assisted Purchase Pathway, they do not need to re-register. Applications will be means-tested against the financial criteria.
Islanders wishing to join the Assisted Purchase Pathway, or those wanting to update their details, can do so via andiumhomes.je.
