If you are looking for serenity and safety within our ever changing worldwide political climate — look no further than Alderney.
Just 3.5 square miles and a population of about 2,400, Alderney is just 70 miles south of the Isle of Wight.
With a police force of just three, the island enjoys the piece and quiet of England of some decades ago.
If you are thinking of buying property in Alderney, and are a British subject or a member of the European Union, there are no restrictions.
If you are outside these areas, you can apply to buy via the Aliens Law.
To own your own home in the fully fledged tax haven of Alderney is as simple as moving on the mainland from perhaps Hampshire to Surrey.
The concept of moving out of England to a close tax haven results in Alderney being a number
one choice — geographically very close yet less expensive than the other Channel
Islands — and generally a drier climate to that of the Isle of Man!
Fly with Aurigny Air Services direct from Southampton, Jersey and Guernsey or Blueislands
which offer direct services from Bournemouth and Shoreham.
PROPERTY PRICES IN ALDERNEY - Less expensive than Jersey & Guernsey
At present, house prices on the island start at about £168,500 for a two bedroom first floor
apartment. Between £189,500 and £287,000 we have homes ranging from a two bedroom fisherman’s
cottage to a detached bungalow in need of some renovation, to a modern terraced three bedroom
home. For £295,000 upwards there is a variety of detached homes ranging from three to five
bedrooms, offering sea views and superb quality.
We can offer excellent family homes set within the Bailiwick of Guernsey yet at Alderney’s
affordable prices. A comprehensive choice in all categories is available. We also have a good
selection of businesses presently available.
For individual detailed sheets and photographs or for a copy of our overall property
listings, please contact our office.
A BRIEF GUIDE TO BUYING PROPERTY - The offer, Conditions of Sale, The Deposit and Forfeit of Deposit
The Offer
Once an offer is put forward, it is always helpful to know whether it is unconditional, or dependent upon survey, bank finance or the sale of another property etc. This offer is then submitted to the vendor for consideration. Once an offer has been accepted by the vendor, standard Conditions of Sale are then prepared.
The Deposit
The deposit is ten per cent of the agreed purchase price. This amount is held in our company’s clients’ deposit account at HSBC. The interest that accrues from this amount is passed to the purchaser once the registration has taken place at the Land Registry.
Conditions of Sale
This standard document is usually formulated in our office (an example of one can be forwarded upon request). The purchaser signs first and places the deposit. The Conditions are then signed by the vendor. It is only at this point that the contract becomes legal and binding upon both parties.
Forfeit of Deposit
Once the Conditions of Sale become binding (as explained above) the deposit is non-returnable. Unlike England, our Channel Island system of conveyancing is quite positive. Should the purchaser renege, the deposit is passed to the vendor, and should the vendor renege, the deposit is returned to the purchaser together with a like sum from the vendor.
COMPLETION and the Transferring of Funds
Completion
This is when both parties are agreeable to the transfer taking place. It is imperative that the completion of the property takes place on or before this agreed date or the default clauses come into play.
Transferring of Funds
To ensure that completion can take place at the due time, we request that the balance of the monies (the full purchase price less the ten per cent deposit already lodged plus the applicable stamp duties—being the conge and document duty as explained in the next section) are transferred by telegraphic transfer—or by internal transfer if dealing with the same bank— to be as cleared funds in our clients account prior to completion.
A standard letter requesting this is forwarded to purchasers well in advance of the completion. Should the necessary funds be transferred early, interest would be paid on this amount.
THE STAMP DUTIES — Conge and Document Duty
These duties are applicable upon completion of the property. Generally they amount to 5% of the Realty price (i.e. bricks and mortar). This sum is divided between Conge and Document Duty; the former is 2% payable to the States of Alderney with the latter being 3% payable to the States of Guernsey. Document Duty is made up of a sliding scale dependant on the transaction price. Freehold transactions under £150,000 are subject to 2% Document Duty. Should the transaction value exceed £150,000 but not £250,000 the Document Duty is 2.5%. Where the realty does not include a dwelling or if the value of the transaction exceeds £250,000, 3% Document Duty is applicable. This duty applies in full, to all leasehold transactions and to all purchases by company transfer and by leasehold transfer of more than 21 years. The Registration Fee amounts to 0.05%.
POWERS OF ATTORNEY, MORTGAGES & CERTIFICATE OF REGISTRATION
Powers of Attorney
If there is a chance that one party may not be able to be on the island for completion, we would suggest that a Power of Attorney be set up. On the mainland, such documents need to signed in the presence of a Notary Public or a Commissioner for Oaths. These Powers of Attorney are purely specific documents relating solely to the property in question. In Alderney the Document has to be signed in the presence of a Jurat of the Court.
Subsequent Proof of Ownership
A few days after completion the purchasers are sent the new Land Award confirming which property has been transferred, into which names it has been vested, the capacity of ownership and what stamp duties have been paid.
Mortgages
It may be advantageous to borrow monies for the purchase. If this is the case, the bank or company in question would simply enter this as an Adverse Interest on completion of the property. Our office would be pleased to put forward the names of our local banks, independent financial advisors and chartered accountants who are always ready to pass on their knowledge and guidance.
PROPERTY MANAGEMENT & INSURANCE
Property Management
Our office has an extensive management arm with currently more than 110 properties. For properties that remain empty, we inspect each one on a regular basis internally and externally, settle the usual day to day running costs and ensure it is up and running when the owner returns to the island. This also satisfies insurance companies. For properties that are rented, whether on short or long term, care is taken that rents are paid and that the property itself is well maintained. For any overseas owners, we will administer any income tax implications. For both of the above services, regular statements are provided.
Insurance
We enjoy a liaison with Islands’ Insurance, a long established company specialising in all aspects of Channel Island insurances. We are therefore able to offer extremely competitive quotes whilst maintaining the very highest standard of cover. The company has its own offices in Alderney.
VEHICLES, RATES & WATER RATES
Vehicles
The annual cost of a road tax disc depends upon the weight of the car which is presently £4.56 a cwt for petrol vehicles and £6.72 for diesels. Petrol is 74.2p a litre for unleaded, 75.2p for LLP, and diesel is currently 63.4p per litre. Seat belts and crash helmets are not obligatory by law. The maximum speed is generally 35mph and is 15mph in town
Rates & Water Rates
There are two annual rates on properties:- the cadastre is the owners rate and is £1.44 in the pound of the rateable value while the occupiers rate is set at £3.31. The water rate is payable quarterly and is set at 66p in the pound of the rateable value. Garden hoses are £30.00 a year and Jacuzzis, spa pools etc. are £66.20 per year. There is a minimum charge per supply of £23.10 a quarter.
Bell and Co Ltd was founded in the sixties and is the island’s longest established estate agency. Since the mid-seventies it has been in the same family ownership and has since expanded into four separate arms comprising property sales, property management, auctions both of property and furniture and effects, and insurance.
Our team of seven is headed by Managing Director Andrew Eggleston, a Fellow of the National Association of Estate Agents, and assisted by Gill Trousdale, Lorna Jackson, Sarah Millear, Janet Eggleston, Jan Walker and Mick Phelps.
ALDERNEY — THE ONLY CHANNEL ISLAND!
Alderney’s property market is simple — a single market without restrictions as explained on the front page of this guide.
We have no two-tier market as exists in Guernsey—being the local and open market, and we do not have to prove ourselves by wealth as in Jersey.
Like the other islands, Alderney is a fully fledged tax haven but, perhaps more importantly, has not sold itself to commercialism having retained its safety and simplicity.
For ordinarily domiciled residents there is NO capital transfer tax, NO inheritance tax, NO VAT, minimal annual rates (please refer to page 3) and income tax set at 20% over the board.
Our property market starts at a far more modest figure than that of the other islands and is the easiest into which to gain access.
As a matter of geographical interest, too rarely recognised, Alderney is the only Channel Island which is actually in the English Channel!!
Electricity
There are two tariffs to choose from:- for those spending the majority of their time on the island, the two-part tariff would be the cheaper. This comprises a quarterly standing charge plus units priced at 8.53p. The flat rate is for infrequent use and is solely priced at 16.51p per unit. The standing charge is worked out from the number of rooms in a property and their size. In general this results in a price of £3.14 a room, up to six rooms. The above unit charges are subject to a “fuel surcharge” which is itself dependent on the price of diesel oil. This is presently set at 10p a unit.
Newspapers
The daily papers arrive each morning on the first flight from Guernsey —subject to weather—and are in the shops for 9.00am except for Sundays when the shops open later. We have our own publication, the Alderney Journal, which is printed every fortnight.
