Assistance for first-time buyers

29th May 2015

States Treasury minister, Deputy Gavin St Pier, has said that proposals for a scheme to support first-time buyers will go to the Policy Council at the end of June.

Such a scheme was first reported back in December 2014, and will aim to assist first-time buyers in affording a deposit towards the purchase of a property.

The scheme is welcome and only lamentable in it having taken more than six months to simulate successful schemes long since established in Jersey and England, and it having taken a slump in States revenue to initiate the scheme, with much neglected first-time buyers expected to boost the housing market and, according to Deputy St Pier, generate an increase in Document Duty.