Skipton International has reached a key milestone in its Jersey mortgage business as it announces that it now provides mortgages for over 1,000 homes in the Island, totalling £270 million.
Skipton International commenced lending in Jersey in May 2005 and has seen steady growth in the market over that time, most notably a 27% increase in 2011 on the previous year and further growth in 2012.
Managing Director, Jim Coupe commented: “We feel very proud to have reached this milestone as it confirms that we are offering the right products for the Jersey audience and we are pleased to be starting 2013 on such a positive note. Since our lending operations commenced we have never had to repossess a property in the Island and I believe that our reputation for taking a cautious approach to lending together with our mutual values have helped to increase the popularity of our mortgage products, in particular our Next Generation Mortgage.
“At the end of last year we celebrated 10 years as an independent operation in the Channel Islands, over which time the housing market across the islands has changed greatly but we’ve adapted along the way to meet the needs of local borrowers. Gaining a deposit today remains a challenge and products such as our Next Generation Mortgage (100% Loan To Value product) are playing a very important role in helping buyers get on the property ladder in the Channel Islands.”
Skipton International Limited lends on residential properties in Guernsey, Jersey and Alderney. Mortgage products include: the Next Generation Mortgage, a 100% mortgage with a third party security guarantee; Variable and fixed rate mortgages up to 90%; and ‘Buy to let’ mortgages up to 85%. Skipton also provides a comprehensive range of attractive access, notice and occasionally fixed rate savings accounts.
Skipton International has customers in more than 100 countries worldwide and is a wholly owned subsidiary of Skipton Building Society, the UK’s 4th largest Building Society with assets of nearly £14bn.
Category: Finance & Business