Shared Equity Apartments
We know that getting onto the property ladder can be challenging, so as part of our ongoing commitment to supporting local first-time buyers, and in partnership with JDC’s shareholder, the Government of Jersey, we are offering 35 Shared Equity apartments exclusively to eligible purchasers.
Shared Equity is designed to make home ownership more achievable.
Under this scheme, you purchase 75% of the property, with JDC retaining the remaining 25%. This means you benefit from:
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A reduced mortgage
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A more affordable route into home ownership
You will fully own your 75% share and live in the apartment as your home.
If you are a first-time buyer and meet the eligibility criteria, this could be a fantastic opportunity to secure a home in one of Jersey’s most exciting new neighbourhoods.
A selection of 1 and 2 bed apartments are indicated on the plot locator with a pink dot.
Eligibility
To qualify for a JDC Shared Equity property in this exclusive development, you must meet the criteria outlined in the Andium Assisted Purchase Pathway and provide your APP number to the JDC Sales Team.
How Shared Equity works
Once you have your Andium Assisted Purchase Pathway number, you’ll be able to reserve a Shared Equity apartment at 75% of the market value.
The remaining 25% is placed into a bond owned by JDC, which you can buy back over time. This is known as “staircasing,” and you can increase your ownership in minimum 5% increments, based on the property’s current market value at that time.
When it comes to selling your home, you’ll receive 75% of the sale price (or whatever percentage you own at that point). The remaining share is used to repay the bond. All Shared Equity apartments at Westward will remain First Time Buyer homes permanently.
The Deposit Payment Plan
The development is estimated to complete in September 2028, giving you the opportunity to secure your chosen apartment and build your deposit over the build program.
Once you’ve chosen your apartment, you can secure it with a £2,000 reservation fee, which forms part of your 10% deposit. The balance of your deposit can then be paid in interest free monthly instalments during the build programme, giving you the flexibility to reserve your new home while continuing to rent or live at home.
It’s a straightforward, supportive route to taking your first step onto the property ladder.