Plan to sell houses at 75% of market value in Guernsey

A new scheme aimed at helping first time buyers could be introduced in Guernsey.

Deputies Peter Roffey and Lindsay De Sausmarez put forward the scheme to the Government work plan to make home ownership "more affordable".

If approved, it could see islanders purchase a house at 75% of its market value.

Mr Roffey said more properties would become available in order for people to use the scheme.

He said: "We know that at least two major schemes are in the pipeline to come through in the next two or three years, and we're hoping that there will be many more."

Under the scheme, affordable housing owned by the Guernsey Housing Association (GHA) would be offered for sale at the reduced price with GHA making up the 25% shortfall.

Mr Roffey and Ms de Sausmarez said the plan had the "full support" of the GHA board of directors and the committee for employment and social security.

GHA chief executive Steve Williams said the scheme would benefit those who could not get on the housing ladder easily.

He said: "This is really aimed probably more at people who earn a little bit more than a partial ownership average earner, but not enough to buy in the normal market.

"We will obviously still be assessing people, and it's not there for people who would normally buy in the market from an agent from the property market, so we will be assessing if they can't afford to do that but they can afford say 75% of the value."

If approved, a detailed report will be put forward to the States.

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