People now able to buy property and get a mortgage in Sark

Now, if owners want to sell, people can get a mortgage and are able to buy the freehold of the house they live in. Credit: ITV Channel TV

Sark's Chief Pleas have unanimously voted to change the island's 400 year-old property law. Currently the island is divided into forty areas, and until now, residents could only lease their homes off landowners.

Now, if owners want to sell, people can get a mortgage and are able to buy the freehold of the house they live in. The decision has divided opinion in Sark, with many concerned that the rights of leaseholders have been forgotten.

William Raymond who is the Chairman of the Special Land Reform Committee says it has been done to give people a long term investment in the island.