First Time Buyers

As a First Time Buyer, you will find the process of purchasing your first home an exciting experience.

It will be one of the biggest decisions you make during your life and to make the process as simple and stress-free as possible, Troys Estate Agency has compiled this step-by-step information pack, which will guide you through the whole process.

For any further information or to register your details, please contact our sales team on +44 (0)1534 734488.

Before you even start to search for your dream home, you need to speak to an Independent Financial Adviser. They will discuss with you, your financial situation, mortgage options and ask for any documents you may require i.e. bank statements and utility bills. They will assess your disposable income and put your case forward to various lenders. They will usually be able to give you an indication of your borrowing limit during your first meeting.

It will also be explained to you during the first appointment the various costs incurred during a transaction i.e. legal fees, stamp duty, surveyor fees and you will need to set aside an amount to cover your deposit not forgetting extra money for new furniture you may want to buy and your tax bill. A breakdown of the above costs can be compiled if desired.

Your Independent Financial Adviser will also discuss options for life cover which is imperative with any property purchase and once you have found something you would like to buy, they will help you to decide on which lender to use and to complete your mortgage application.

After having spoken to your IFA, contact our sales team to confirm your maximum purchase price.

You will need to inform us of what type of property you are looking for i.e. house or apartment, number of bedrooms and location.

Once we have your details logged into our system, you will be advised of any new instructions we receive which match your requirements.

You can contact Our sales team either by: e-mail: sales@troysjersey.com direct dial: +44 (0)1534 734488

For any further information or to view any properties that you may be interested in, contact our sales team to book an appointment. We would normally require 24 hours notice for Vendors.

Once you have found a property you would like to buy, you will need to appoint a Lawyer.

When you have found a property you would like to purchase, you will want to make an offer.

To do this you will need to speak to your Estate Agent and put forward an offer, remembering to leave yourself with enough room for negotiation if necessary.

If the Vendor accepts your offer, you will need to:

• Appoint a legal firm; we can recommend a number of suitable firms to work on your behalf for all legal proceedings.
• Contact your IFA who will help you finalise your mortgage application and deal with your lender.
• Your lender will also require a survey / valuation report and they will liase with you on the appointment of a suitable Independent Surveyor.

As soon as you have reached an agreed purchase price, you will need to instruct your legal team of Advocates and Conveyancers.

It is your Advocate's responsibility to ensure you acquire good title to your property and to generally protect your interests and answer any questions you may have.

Your team will carry out a title check which will establish that the Vendor owns the house, is able to sell it and that there are no restrictions on the use of the property.

Enquiries will also be made to local authorities to determine whether or not there are any plans pending which may affect your enjoyment and future use of your new home. The public utilities may be contacted to verify the services to your house.

Your contract will be carefully explained to you by your Advocate or a senior member of staff to clarify exactly what you are purchasing.

A share transfer purchase involves the acquisition of the exclusive right to occupy the apartment, sometimes with a garden and/or garage and also the acquisition of certain rights over common areas.

Your Advocate will review the Articles of Association which governs the administration of common areas and any restrictions relative to the units.

Unlike freehold properties, stamp duty is not payable upon completion which can take place any day of the week.

As your point of contact for your purchase, it will be our responsibility to write to the Vendor's lawyer and to your lawyer to advise them that the sale of the property has been agreed.

We will complete the Housing Application on your behalf and will require a copy of your birth certificate and / or confirmation of residency to present to the Population office along with a £50 administration fee payable to the Treasurer of the States.

Your lender will contact your choice of Surveyor to carry out the survey and they in turn will book the appointment through ourselves.

We will prepare an inventory of contents and forward them to both legal teams dealing with the transaction to establish what mobiliary effects are to be included in the sale.

We will also help you with organising a time to move in after completion and deal with any other queries you may have.

Freehold Contracts are passed before the Royal Court on Friday afternoons. You can appear in person or alternatively appoint your Attorney.

Share Transfer Completion can take place at any time at your Advocates office.

Upon completion you will be able to collect the keys to your new home and move in at the time agreed.

Jersey Housing Law

Houses in Jersey are classified as available for occupation by residents with either ‘A-H’, ‘J’, or ‘K’ housing qualifications or ‘Unqualified’.  A brief explanation of these categories is given below:

A-H – local residents qualifying on basis of length of residency in Jersey.  For newcomers the qualifying period is 12 years.  For Jersey born people an aggregated 10 year period is required.

J – “essentially employed” individuals as determined by the Housing Department

K – individuals whose residence in the island “can be justified on social or economic grounds" and where the applicant will make a major contribution to the Island’s tax revenue.

Unqualified – individuals who do not have one of the above qualifications can only occupy properties classified as "unqualified".

To confirm your housing qualification status contact The Housing Department, P.O. Box 587, Jubilee Wharf, The Esplanade, St. Helier, Jersey JE4 8XT, Tel: 01534 448905