First-Time Buyers
At JDC, we are committed to supporting local first-time buyers in purchasing their own homes. Our successful Deposit Payment Plan scheme, established in 2015, has enabled many first-time buyers to step onto the property ladder.
We will be offering this deposit payment plan to first time buyers at Westward, helping more people achieve their dream of homeownership.
Eligibility
Under the Scheme, the Deposit Payment Plan is available to First-Time Buyers who are either Entitled (Locally Qualified) or Licensed (Essential Employees).
A first-time buyer is an individual who has never previously owned, or had any legal interest in, a residential property – either solely or jointly with another person – anywhere in the world.
Since its introduction in 2015, our successful Deposit Payment Scheme has enabled many Islanders to purchase their first home.
How it works
Eligible applicants can secure their home by paying JDC a £2,000 reservation fee, which will be credited toward the required 10% deposit. The remaining balance can then be paid in monthly instalments throughout the build programme, allowing you to reserve your apartment while continuing to rent or live at home.
Testimonials
"When I first discussed purchasing, I did not feel it would be an option as I was studying full time. However, it was possible as JDC offered an interest free deposit payment scheme. This allowed me to gain my degree and be able to purchase, for which I am very thankful."
Horizon Purchaser
"Buying our own property felt so out of reach, as although we could afford a mortgage, we had not acquired enough savings for a deposit. With the fast rise in property prices, it felt like saving for a deposit was an ever-moving goalpost, with the amount needed always increasing. With States of Jersey Development Company offering first time buyers the opportunity to pay the deposit in monthly instalments over the course of the build programme, we were finally able to realise our dream of owning a property. There is absolutely no doubt that without this scheme, we would not have been able to purchase our flat."
Horizon Purchaser
