Starter Home Deposit Loan Scheme
Launch date: 21/01/2013
Review status: Report published
What is the review about?
The Panel will review proposals of the Minister for Treasury and Resources for a six-month trial scheme whereby nearly £3 million will be made available for loans to assist eligible homebuyers with the deposit for a property purchase. The scheme is designed to assist those facing the greatest difficulties in getting on the housing ladder and the eligibility criteria will relate to income, first-time buyer status, the type of property and liquid assets held by the applicant. The proposals will be debated by the States Assembly.
Terms of reference
- To review Starter Home Deposit Loan Scheme (P.131/2012) and the key issues arising from that proposition, with particular attention to the following:
(a)The consultation and work undertaken by the Minister for Treasury and Resources in the development of the proposals; and
(b)The manner in which the proposed trial scheme is intended to operate;
- To consider the potential economic effect of the proposals;
- To consider the manner in which the proposed trial scheme will, if implemented, be monitored and evaluated;
- To consider how the scheme, if extended beyond a trial period, would be funded; and
- To report to the States Assembly on the work undertaken.