States cheap homes plan won’t work, says report

A SCHEME which allows Islanders to buy family homes at a discounted price has ‘numerous flaws’ and is not fit for purpose or sustainable, a damning report says.

The Jersey Homebuy scheme, which allows Islanders to buy a three-bedroom house at a discounted price, could trap people in homes with mortgage debts exceeding the value of their property, the States spending watchdog has said.

The Public Accounts Committee, chaired by Senator Ben Shenton, yesterday released a highly critical report on the Homebuy scheme, which was pioneered by Environment Minister Freddie Cohen.(from JEP)