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How do I apply?

How to apply, what happens next and frequently asked questions
How do I apply?

How do I apply?

You need to fill out a partial ownership application form. Copies can be picked up from our offices or downloaded here. You will need to bring into the office all the requested documentation when you submit your application, as the GHA are unable to process your form without this.  We need to check that the right people benefit from this first time buyer opportunity.

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 interest rate. It is strongly advisable to clear any outstanding loans. You will also need to use your savings for moving in costs such as new flooring, furniture, appliances, etc.

What happens next?

Our staff will review your application form and all the information that you have sent in. If we are happy with this and you meet our eligibility criteria, then we will write to you to confirm that you have been added onto our active waiting list. Your position on the waiting list will be the date we received your application form and all the requested information. 

Who do I contact for more information?

If you are interested in our partial ownership and rental properties, contact the GHA’s Allocations Officer, on 240863 or email [email protected]  

We can discuss your eligibility, help complete your application form and advise you about the waiting list.

FAQs

What happens after I am accepted onto the waiting list?

Our staff need to keep your details up-to-date in case a property becomes available that meets your requirements. This means that if your circumstances change, for example you have a pay rise, a drop in earnings, or a new partner, you need to advise us immediately as this may affect your application. We will also write to you every 12 months requesting up-to-date payslips, bank and savings statements. 

Why wouldn’t I be accepted onto the waiting list?

There are several reasons why someone cannot be accepted onto the waiting list:

  1. If you can afford to purchase a property in the private sector suitable for your needs then you will be declined. If your salary or joint salary, is over our maximum amounts (please see our thresholds here) then you are not eligible and we will advise you to look for a property in the private market.
  2. If you are in rent arrears with the States of Guernsey or ourselves, then you must clear your debts before applying for partial ownership.
  3. If you meet our criteria but you have a property to sell (still can't afford to buy in the private sector after the sale), don’t have the minimum savings, or the recommended income then we will put you on our secondary list. Once you have the recommended  savings and income or sold your property, then we will move you onto the active waiting list. Your position on the active waiting list will be the date you originally applied. 
What is the secondary list?

The secondary list is for applicants who are working towards meeting our criteria. For example, if they need to save more towards the minimum savings required, or if their earnings are currently under the minimum requirements.

How long is the waiting list?

It depends on the type of property you require. The period of waiting could be anywhere between six months and four years - depending on property size and type.

What will I have to pay for?

Check your lease as this sets out clearly what 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 as per lease for your property
  • a discounted rent and service charge which covers items such as building insurance, maintenance of any communal areas – payable to the GHA.
What happens if I have shared custody of a child?

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.

GHA's partial ownership properties

At the moment, the GHA has 27 partial ownership properties on the island.

These are at: 

  • Courtil Reveaux
  • Le Vieux Jardin, Vale
  • Oaks, Baubigny Road
  • Pont Colliche, St Sampsons

 We also occasionally have existing partial owners selling back.

What is staircasing?

After a minimum of 12 months, you may be able to increase your ownership share in minimum 10% increments.

Each additional share is based on the current market value of your home at the time of valuation.

As your ownership increases:

  • your rent to GHA reduces
  • your equity in the property increases

Staircasing is subject to affordability and valuation at the time of purchase.