Jersey first-time buyer scheme reopens

First-time buyers bought more than 50 homes using the scheme last year

A scheme to help first-time buyers in Jersey will reopen, says the island's government.

First Step helps "aspiring homeowners" on to the property ladder by lending them up to 40%, according to the Government of Jersey.

Last year it helped islanders buy more than 50 open-market homes, with £10m of government-backed loans, it added.

Housing Minister Sam Mézec said: "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."

Sam Mézec said he would be asking for more government funding to extend the scheme next year

Mézec said the scheme was "a meaningful way of tackling Jersey's housing crisis".

He said he had secured an extra £2m funding from the government budget to reopen the scheme and planned to ask for more money next year.

He said: "It's ultimately down to the whole States whether they agree with that or not.

"But I'll be making the case that it's a really positive scheme and it's worth investing in because it helps, in particular, young, talented people who we want to stay on the island and build a future here."

The scheme will be open on Monday 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% 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