Loan Scheme Reopens to Support First-Time Homebuyers

First-Time Buyer Loan Scheme Reopens with Fresh £2m Injection

Jersey's government-backed loan scheme aimed at helping first-time buyers onto the property ladder has reopened, with an additional £2 million now available.

The First Step scheme, which offers loans covering up to 40% of a property’s value, originally launched in February 2024 with a £10 million fund. Since its inception, it has supported over 50 Islanders in purchasing their first home, ranging from compact one-bedroom flats to spacious four-bedroom houses.

The latest round of funding opens today (16 June), marking the fourth phase of the initiative.

Housing Minister David Warr welcomed the reopening, saying:“I’ve seen the tangible impact this scheme has had on Islanders who may never have been able to afford a home otherwise. It’s a practical response to our ongoing housing challenges and shows that government can play a meaningful role in helping people achieve homeownership.”

To be eligible, applicants must be registered on the Assisted Purchase Pathway and meet means-tested financial criteria as laid out in the official policy guidance.

Chris Kynicos, Sales and Lettings Lead at Andium Homes, added: “We’d urge anyone considering their first home to reach out to our team. Whether in person at Don Street or by phone on 500700, we’re here to help guide them through the process.”

Applications for this phase will remain open for four weeks and will close on Sunday 13 July.