What is First Step?
Andium Homes administers a government-backed assisted purchase home ownership scheme tailored for first-time buyers in Jersey. This initiative operates as a shared equity scheme, enabling clients to secure a home by contributing up to 40% of the market value for various properties on the open market. The exact contribution is assessed through a financial review of the prospective buyer’s financial position and will be provided in the form of a non-interest-bearing loan.
Are there any other eligibility requirements for the First Step application?
Yes.
- You will need to be a ‘genuine’ first-time buyer
- You will be required to provide a minimum of 5% deposit on the full market value of your home
Which properties are available to purchase?
- Open-market
- Is not a new build property (and has previously been occupied)
- Does not exceed the maximum purchase price as set out in the table below
| Property Type | Maximum purchase price |
| 1 bedroom flat / house | £300,000 |
| 2 bedroom flat | £460,000 |
| 2 bedroom house | £495,000 |
| 3 bedroom flat / house | £680,000 |
| 4+ bedroom house | £965,000 |
How much loan may I be eligible for?
To help provide an understanding of the amount of loan that you may be eligible for, you can use the below calculator to find out.
First Step Bond Calculator
This calculator helps to provide an overview of what the maximum bond that could be provided based on your proposed property purchase price, deposit and mortgage amounts.
How do I apply for the First Step assisted purchase home ownership scheme?
The First Step scheme will be available in three separate tranches during 2024, with approximately £3 million of loans available in each tranche.
You will need to apply separately in each tranche during 2024, with your up-to-date financial information to be considered for a loan.
Tranche 3 is now closed and in assessment stage.
No further Tranches have been confirmed to date but please check back here for any updates as they become available.
What will I need to apply?
- your Assisted Purchase Pathway number
- your last 3 months pay slips
- your most recent tax assessment
- Copies of your last monthly bank account / investment statements
- Copies of your last monthly credit cards / loan statements
- Copy of a mortgage in principle from one of the mortgage providers supporting the scheme
Which mortgage providers support First Step?
First Step is in the final stages of being supported by all Jersey mainstream mortgage lenders
- Barclays
- Butterfield
- HSBC
- Lloyds
- Natwest
- Santander International
- Skipton International
We are also supported by the following Jersey mortgage brokers
- The Mortgage Shop
- Integritas Wealth Partners
- Cherry Godfrey
What happens once I have submitted my First Step application?
Our agents will review and prioritise your application against the eligibility requirements of the scheme. Further information on the eligibility criteria and prioritisation for First Step can be found in the following policy document.
We will notify each applicant of success or non-success in each tranche.
What happens if I am successful in a tranche?
We will be in touch to guide you through all the next steps, helping you take your First Step toward owning a home.
What happens if I am not successful in a tranche?
We encourage you to reapply in any future tranches that may become available.
For other frequently asked questions Click Here