Loan scheme for first time homebuyers reopens

Monday, 16 June 2025 06:00

A government scheme to help people in Jersey buy their first home has reopened to more applicants.

First Step loans up to 40% towards a property purchase.

It first opened in February 2024, with a initial £10m pot available.

Since then, more than 50 first homes have been bought under the equity loan arrangements, ranging from one-bedroom flats to four-bedroom houses.

The latest tranche of funding has reopened today (16 June) with an extra £2 million available.

The Housing Minister says he is 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.

“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.

Islanders must be registered on the Assisted Purchase Pathway before applying. They will be means-tested against the financial criteria, which is outlined in the policy guidance.

Chris Kynicos, Sales, and Lettings Lead at Andium Homes, said:

“We’d encourage anyone looking for their first home to get in touch either in person at our offices on Don Street or call 500700 and our team will be happy to help.”

Applications are open for four weeks, closing on Sunday 13 July.