Property law plans to make buying homes easier

Securing a mortgage could become easier if proposed changes to Alderney's property laws are agreed.

The States of Alderney is considering four reforms designed to remove barriers to mortgage lending and make it simpler to buy leasehold properties in the island.

The draft Real Property (Reform) (Alderney) Law 2026 outlines plans to make it easier for flats and other parts of a building to be individually owned and a framework to manage lease breaches.

Also proposed is the allowance of qualifying long leases to be used as mortgage security and permission for the court to delay eviction proceedings if a lease may be lost because its conditions have been breached.

The proposals followed several years of work to address difficulties faced by prospective buyers seeking mortgage finance for properties held under long leases, officials said.

The issue was first highlighted in 2021 when the Court of Alderney was notified that mortgage finance was no longer being offered on leasehold properties because leasehold interests were not regarded as realty.

The Housing Task Group's report in April 2022 noted many lower-value properties were held under long leases and difficulty securing mortgage finance could restrict opportunities for home ownership, particularly among first-time buyers and younger residents.

The Housing Working Group said it welcomed the proposed legislation brought before the States for consideration.

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