Property law plans to make buying homes easier
The States of Alderney considers ways to make it simpler to buy leasehold properties.
Property law proposals aim to make home purchases easier
The States of Alderney is weighing four changes to the island’s property laws
Getting a mortgage could become easier if proposed amendments to Alderney’s property laws are approved.
The States of Alderney is considering four reforms intended to remove obstacles to mortgage lending and to simplify the purchase of leasehold properties on the island.
The draft Real Property (Reform) (Alderney) Law 2026 sets out plans to make it easier for flats and other parts of a building to be owned separately, as well as to create a system for dealing with lease breaches.
It also proposes allowing qualifying long leases to be used as mortgage security and giving the court power to postpone eviction proceedings if a lease could be forfeited because its conditions have been breached.
Officials said the proposals came after several years of work to tackle problems faced by prospective buyers trying to obtain mortgage finance for properties held under long leases.
The issue was first raised in 2021, when the Court of Alderney was informed that mortgage finance was no longer being offered on leasehold properties because leasehold interests were not considered realty.
The Housing Task Group’s report in April 2022 said many lower-value properties were held under long leases and that difficulty obtaining mortgage finance could limit home ownership opportunities, especially for first-time buyers and younger residents.
The Housing Working Group said it welcomed the proposed legislation now before the States for consideration.