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Mixed response to Homebuy scheme

14 July 08 16:05 GMT

A States panel has said a new scheme, which could allow first-time buyers in Jersey a 35% discount on a property, needs more work.

The Homebuy scheme allows people on low incomes to buy a property, but only pay a certain amount of the price.

But the scrutiny panel still has concerns about the scheme. It claims no economic review has yet been done on how it will effect the housing market.

The States adopted the Homebuy scheme last week.

The scrutiny panel said it was keen to support initiatives to extend home ownership but that passing the scheme so quickly "may not represent the best approach to sound policy making".

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