Scheme would loan first-time buyers £40k
FIRST-TIME buyers could be given a step up onto the housing ladder if a proposed States-funded deposit loan scheme receives the backing of newly-elected deputies.
Published
Industry representatives have come up with the scheme, which suggests £3m. could be set aside from the unallocated portion of the £330m. States bond to fund a controlled trial.
It is anticipated it would help up to 200 individuals into owning homes in the private sector and will help to stimulate the market, which according to latest figures has seen a drop of 9% in the lower quartile of prices from £313,856 in quarter two 2014 to £295,688 at the end of last year.
The States would lend a maximum of £40,000, repayable over 20 years.
