Guernsey Community Savings has launched an interest-free loan scheme to help eligible islanders cover rental deposits and, where required, rent in advance. Employment and Social Security is supporting the scheme with an initial one-off grant of GBP 50,000. The initiative creates a single access point for this assistance, superseding the Offenders Deposit Assistance Scheme and replacing Employment and Social Security’s case-by-case arrangements. Applicants must have been permanent Guernsey residents for at least 12 months, be eligible to live and work on the island, and demonstrate that they can afford the rent and loan repayments, taking benefits into account. Approved funds will be paid directly to landlords, with repayment schedules agreed with borrowers. Guernsey Community Savings aims to decide applications within 48 hours and will recycle repayments into new loans, while seeking additional funding to expand capacity.
Guernsey Community Savings launches interest-free rental deposit scheme backed by GBP 50,000 grant
Guernsey Community Savings has launched interest-free loans for rental deposits and rent in advance, supported by an initial GBP 50,000 grant from Employment and Social Security. Eligible residents must demonstrate that they can afford the tenancy and repayments, with funds paid directly to landlords and decisions targeted within 48 hours. Repaid money will be recycled to support further applicants.