The Minister for Housing, Deputy Sam Mézec, has welcomed the news of over 100 applications being received in the first tranche of the First Step scheme. First Step is the Government-funded £10m assisted purchase home ownership scheme, which is administered by Andium Homes. It was launched at the end of February, and the first tranche of applications closed on 2 April.
In total, 124 applications were received, and two further tranches of the scheme will follow in June and September this year, to allow further applications.
From the end of April, all successful applicants will have been notified. They will then have 60 days from the day they are informed to find a property and have an offer accepted.
The funding was allocated in a previous Government Plan, and the launch of the scheme followed consultation with local banks, lawyers and estate agents.
Deputy Mézec said: “I am delighted that First Step has received so many applications. Supporting as many Islanders as possible into homeownership is a key priority for the new government. By making homes more affordable through measures such as equity loans, we can help Islanders buy their first home and inspire faith in our younger people that they can enjoy a prosperous future in Jersey.
“I am looking forward to opening applications for further tranches of this scheme later in the year. 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, my predecessors as Housing Minister and the industry representatives who have been so supportive of it.”
Further information on the First Step scheme is available via First Step assisted home ownership scheme launched (gov.je).