Scheme to help Guernsey residents cover rental deposits

Friday, 16 October 2026 06:56

A new scheme designed to remove the upfront costs of securing a home in Guernsey's private rental market.

Guernsey Community Savings (GCS) is offering interest-free loans to cover deposits on private rental properties and - where required - rent in advance.

The scheme has been set up thanks to a one-off £50,000 grant from Employment & Social Security.

GCS Chief Executive Joe Brown told Island FM housing is a key issue.

"We know how difficult the housing market is in Guernsey at the moment, but it is really important that all islanders have access to safe and secure accommodation.

"Unfortunately, some in the community are financially excluded from having a home.

"Even though they can afford the rent, the upfront cost of securing a home in the private sector, with a deposit and sometimes an advance, can be too much for someone.

"We really hope this scheme can help many Islanders secure a home.

"We think the average loan will be between £2,000 and £2,500 pounds, so that means the £50,000 can cover between 20 and 25 applications.

"Now we do anticipate we'll have many applications and therefore we'll need to top up the fund in the near future."

Joe says the scheme will be tailored for each client - with no additional charges and flexible repayment terms.

"It's a non-commercial scheme, so we're not here to make money, we're just here to support people.

"For those on a low income, taking on a loan as well as a rental is quite an undertaking, so it's important that there are no additional charges added to it and they have the flexibility to repay over a period of years.

"So even if it's like £10 a week or £15 a week."

To qualify, applicants must have lived in Guernsey permanently for at least 12 months, be eligible to live and work here, and show they can afford the rent and repay the loan.

If approved, the deposit and any rent in advance will be paid directly to the landlord.

GCS aims to make decisions within 48 hours, recognising that 'speed can be crucial in securing a rental property'.