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 currently offer this deposit payment plan to first time buyers at Westward [link to website?], helping more people achieve their dream of homeownership.
Eligibility
The Deposit Payment Plan will be available for Entitled (Locally Qualified) and Licensed (someone who is considered an essential employee) people who are First-Time Buyers.
A first time buyer is a potential home buyer who has never owned or had an interest in any residential property on your own or with someone else anywhere in the world.
Our successful Deposit Payment Plan scheme, which was established in 2015, has allowed many first-time buyers the opportunity to purchase their first home.
How it works
If you qualify for the Deposit Payment Plan, you can secure your home with JDC by paying an initial £2,000 reservation fee, which will count towards your 10% deposit. The remaining deposit can be paid in monthly instalments throughout the build program, allowing you to reserve your apartment while continuing to rent or live at home.
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
