Search the GHA Website
Most popular searches
You are here
- Home
- Find a home
- Partial ownership housing
- Am I eligible?
Am I eligible?
Am I eligible for partial ownership?
Before completing the application form, please see if you meet the following criteria. You must:
- be a locally qualified resident of Guernsey and living in Guernsey
- be over 18 years old
- have minimum savings of £2,500 (1 bed,) £3,000 (2 bed) or £3,500 (3 bed) to cover the legal and mortgage fees
- be able to purchase, with earnings and/or savings, at least 40% of the property.*
- be able to satisfy the GHA that you are unable to afford to purchase a suitable property on the local housing market.
Please read the Partial Ownership Policy which contains more information.
Applicants must be able to finance at least the minimum percentage of a partial ownership property. The minimum annual income requirements are:
| Property required | Minimum income required |
1 bedroom | £24,000 per annum* (based on purchasing a 1 bedroom partial ownership property valued at £240,000) |
2 bedroom flat | £27,500 per annum* (based on purchasing a 2 bedroom partial ownership flat valued at £275,000) |
| 2 bedroom house | £34,500 per annum* (based on purchasing a 2 bedroom partial ownership house valued at £345,000) |
3 bedroom property (with a flat below and limited parking) | £33,500 per annum* (based on purchasing a 3 bedroom partial property valued at £335,000) |
| 3 bedroom house | £37,000 per annum* (based on purchasing a 3 bedroom partial ownership house valued at £370,000) |
| 4 bedroom house | £41,250 per annum* (based on purchasing a 4 bedroom partial ownership house valued at £412,500) |
*Please note these above limits only apply to applications received on or after November 2019. All previous applications will adhere to the previous limits.
Applicants must have a sole or joint income of less than:
| Property Required | Maximum Income Threshold |
1 bedroom | £50,000 per annum * (based on being able to borrow a minimum of £230,000 from a mortgage lender to purchase a one bedroom property in the private sector, not taking into account any savings required or outgoings such as loans and credit cards.) |
2 bedroom | £65,000 per annum * (based on being able to borrow a minimum of £270,000 from a mortgage lender to purchase a two bedroom property in the private sector, not taking into account any savings required or outgoings such as loans and credit cards.) |
3+ bedroom | £85,000 per annum* (based on being able to borrow a minimum of £345,000 from a mortgage lender to purchase a three bedroom property in the private sector, not taking into account any savings required or outgoings such as loans and credit cards. ) |
Here are some guidelines on potential mortgage and rent costs for buyers – please bear in mind that Bank mortgage interest rates and terms, and house prices change over time so these are only a guide and should not be used as firm up to date figures.
Example of one bedroom flat
One-bedroom flat with kitchen, lounge, bathroom and allocated parking.
Property valued at - £267,000.00
*Monthly payments (quoted for January 2019)
| RENT | MORTGAGE |
40% purchase (£106,800) | £249.60 | £540 |
50% purchase (£133,500) | £208.00 | £675 |
60% purchase (£160,200) | £166.40 | £810 |
70% purchase (£186,900) | £124.80 | £945 |
80% purchase (£213,600) | £83.20 | £1080 |
Monthly service charge - £160.22 per month
How long were the latest buyers on the waiting list? 2 to 3 years
This is based on a 30 year mortgage at our current rate of Base + 3.75% = 4.5%
Example of two bedroom house
Two-bedroom house with kitchen, lounge, bathroom, garden and allocated parking.
Property valued at - £355,000
*Monthly payments (quoted for June 2018)
| RENT | MORTGAGE |
40% purchase (£142,000) | £325.00 | £588 |
50% purchase (£177,500) | £270.83 | £735 |
60% purchase (£213,000) | £216.67 | £882 |
70% purchase (£248,500) | £108.33 | £1029 |
80% purchase (£284,000) | £54.17 | £1176 |
Monthly service charge - £79.77 per month
How long were the latest buyers on the waiting list? Averagely 3 years
Example of three bedroom house
Three-bedroom house with kitchen, lounge, bathroom, garden and allocated parking.
Property valued at - £430,000.00
*Monthly payments (quoted for January 2019)
| RENT | MORTGAGE |
40% purchase (£172,000) | £408.20 | £870 |
50% purchase (£215,000) | £340.17 | £1087 |
60% purchase (£258,000) | £271.13 | £1305 |
70% purchase (£301,000) | £204.10 | £1522 |
80% purchase (£344,000) | £136.07 | £1740 |
Monthly service charge - £139.71 per month
How long were the latest buyers on the waiting list? Averagely 3 years
*All figures, as at January 2019, are a guide only and is based on a 30 year mortgage at the current rate of Base + 3.75% = 4.5%