How do I apply?
How do I apply?
We recommend you save as much as possible towards a deposit for your mortgage. This will reduce the amount you will need to borrow from the bank and you may get a better mortgage rate. It is advisable you endeavour to clear any outstanding loans. You will also need to use your savings for flooring, furniture etc.
What happens next?
Our Allocations Officer will review your application form and all the information that you have sent in. If you meet our eligibility criteria, the Allocations Officer will write to you to confirm that you have been added onto our active waiting list. Your position on the waiting list will be based on the date we received your application form and all the requested information.
Who do I contact for more information?
The Allocations Officer needs to keep your details up-to-date in case a property becomes available that meets your criteria. This means that if your circumstances change, for example a pay rise, a drop in earnings or a new partner, you need to advise us immediately as this may affect your application. The Allocations Officer will also write to you every six months requesting up-to-date payslips, bank and savings statements.
There are many reasons why someone cannot be accepted onto the waiting list.
- If your salary or joint salary, is over our maximum thresholds (see our policy) then you would be declined. We would advise you to look for a property in the private market.
- If you are in arrears with the States of Guernsey or ourselves, then you must clear your debts before applying to us.
- If you meet our criteria but don’t have the minimum savings, then we will put you on our secondary list. Once you can prove to us that you have this amount with a bank statement, then we will move you onto the active waiting list. Your position on the active waiting list will be the date you originally applied.
The secondary list is where applicants are placed while they await to meet our criteria. For example if they need to earn sufficient earnings or save more towards the minimum savings required.
It depends on the type of property you require. The period of waiting could be anywhere between six months and four years.
You will need:
- your savings to cover the legal fees. The amount depends on the percentage you purchase (0.75% of the portion being purchased as at 1 August 2018.)
- to pay the arrangement and valuation fee for your mortgage. The bank will advise you of this amount.
After purchasing the property, you pay:
- a monthly mortgage payment
- all rates on your property
- any ongoing maintenance costs
- a discounted rent and service charge which covers items such as building insurance, maintenance of any communal areas – payable to the GHA.
If you have shared care or custody of a dependent child, then you may be allocated a property suited to your needs i.e. one additional bedroom. You will need to provide evidence of care or custody, in the form of either a Court order, or letter from the other parent/legal Guardian.
At the moment, the GHA is building 27 new partial ownership properties on the island, ready for completion in 2019 and 2020.
These are at:
- Courtil Reveaux – to be completed by January 2019.
- Pont Colliche, St Sampsons – to be completed by November 2019
- Le Vieux Jardin, Vale – to be completed by July 2019
- Oaks, Baubigny Road – to be completed by October 2019
We also occasionally have existing partial owners selling back.