29 February 2024
From today (29 February) Islanders can apply for government funding to help buy their first
home.
First Step, a new scheme to help aspiring homeowners onto the property ladder, has been
launched by the Minister for Housing, Deputy Sam Mézec.
The assisted purchase home ownership scheme, delivered in partnership with Andium
Homes, uses £10m of government funding to help eligible Islanders access a contribution of
up to 40% towards the purchase of an open-market property.
Buyers will need to provide a 5% deposit towards the purchase and be able to access the
maximum lending available to them from one of the scheme’s partnering mortgage
lenders. The First Step scheme is limited to genuine first-time buyers who have never owned
property in Jersey or overseas.
The funding, which was allocated in a previous Government Plan, is available now that final
policy development is complete and following consultation with local banks, lawyers and
estate agents.
Islanders already registered on the Assisted Purchase Pathway are being invited
to apply for the First Step scheme.
Islanders not already registered on the Pathway but wishing to put themselves forward for
the new scheme are being encouraged to submit their details before applying for First Step.
There will be three rounds of applications for the scheme. The first round will be open from
29 February for four weeks until 2 April, at which point Andium Homes will assess applications
and notify successful applicants.
Applications will be means-tested against the financial criteria, with prioritisation also given to
applicants who have been registered on the Assisted Purchase Pathway for longest and those
whose financial circumstances would otherwise make it difficult for them to purchase a home
without financial support.
There will be two further rounds of applications in July and September, so Islanders are
encouraged to apply again if they are unsuccessful in the first round of the scheme.
Andium Homes, the States-owned affordable housing provider, will administer the First Step
scheme on behalf of government, making use of its established experience running the
Andium Homebuy scheme.
It is anticipated that up to 60 households will benefit from the initial £10 million investment,
which the Government will consider extending should the scheme prove successful.
Access to First Step funding will be available to those who have a household income within
the Minister for Housing’s existing assisted purchase eligibility criteria and meet the other
eligibility criteria approved by the Minister for the scheme.
The Minister for Housing, Deputy Sam Mézec, said: “One of my priorities as Minister is to
support more Islanders to become homeowners. One of the issues that Islanders approach
me about consistently is their wish to own a home in Jersey, and the frustration they feel at
not being able to do so. The £10 million of funding made available will help change this for
some of our genuine first-time buyers.
“Home ownership is important to many people; where we live matters and gives us a source
of pride and sense of belonging. I’m delighted that this shared equity scheme is now
available for eligible Islanders to apply so home ownership can become a reality for more
people.
“The scheme’s focus on existing secondary market properties, rather than new builds, will
help stimulate housing market activity at a time when turnover is low.
“I am hugely grateful to everyone involved to enable the scheme to launch, particularly our
colleagues at Andium who are administering it, all the officers involved in the detailed work
to get it to this stage and the industry representatives who have been so supportive of it.”
Former Minister for Housing and Communities, Deputy David Warr, said: "Throughout the
summer of 2023, my team developed the “First Step” scheme. It recognises that huge gulf in
affordability experienced by many. Although this is a pilot scheme that will help around 60
families in the first quarter of 2024, I have high hopes that this is a way for some who thought
they may never have a home of their own to make that first move."
Andium Homes’ Lead for Policy & Stakeholder Engagement, Dominique Caunce, said: “We’re
delighted to be working in partnership with the Government to deliver this exciting initiative
for first-time buyers, which will work alongside our existing Andium Homebuy shared equity
scheme.
“It’s an exciting time for first-time buyers as together First Step and Andium Homebuy will
make home ownership achievable for many of those who may have previously struggled to
get on the property ladder.
“We want to encourage as many people as possible to register for these schemes via our
website or by calling our Sales Team, who will be happy to help.”
Islanders wishing to join the Assisted Purchase Pathway, or those wanting to update their
details, can do so via andiumhomes.je/assisted-purchase-pathway.
The Andium Sales Team can be reached on 500700.
gov.je