Petition Work alongside banks to provide 95%-100% mortgages to first-time buyers
With current rental prices and high cost of living, it's near impossible to secure a deposit whilst paying rent.
Many times a mortgage cost is less than the rental prices people are paying.
Jersey's property market means that proprieties increase in value very rapidly compared to other places. If a bank provided a 100% loan and had to repossess a house after a few years they'd still make a profit whilst selling plus the amount already paid. It's a very low risk for the banks so why isn't there pressure from the States so that young couples can finally get on the property ladder?
First-time buyer 100% loan schemes should be encouraged - this Island is for all who make it a home.
At 1,000 signatures...
At 1,000 signatures, Ministers will respond to this petition
At 5,000 signatures...
At 5,000 signatures, this petition will be considered for debate in the States Assembly