Deputy wants States assistance for first-time buyers

29th October 2014

Deputy Heidi Soulsby ( www.heidisoulsby.com ) has submitted an amendment to proposals in Guernsey’s 2015 Budget.

The States Treasury & Resources Department is planning to borrow many millions of pounds from investors in the form of a States of Guernsey Bond to fund various States entities. Deputy Soulsby wants some of that money to help people buy their first property. The St Martin’s Deputy quotes successful initiatives already in place in Jersey and mainland UK and sees no reason why similar options couldn’t work in Guernsey.

Director at Cooper Brouard, Matt Brouard commented “ States help for first time buyers, who are struggling to raise mortgages from traditional sources, would be very welcome. Controlled sensibly to avoid price inflation, this injection of money would help the Local Market in general, which is frustrated at present by a lack of liquidity.”