Skipton Surpasses GBP500m Mortgage Book Milestone
Tuesday, April 26, 2011

Hot on the heels of becoming Guernsey’s largest lender and at the same time nearly doubling its mortgage activity in Jersey, Skipton International, the Channel Islands based offshore savings and local mortgage lender has announced its mortgage book has grown to over GBP500m for the first time.

One of the proudest achievements of the bank, according to Director of Lending Nigel Pascoe, is that in their entire lending history, they have never had to repossess a single property in either Jersey or Guernsey. Nigel Pascoe puts this extraordinary statistic down to the care and attention lending staff take over each case. “We are all based in the Channel Islands, so have an excellent feel for our local markets in Guernsey and in Jersey. Added to that, we take the time to look at each case individually and to make sure we fully understand the needs and expectations of our customers. Only by establishing a truly personalised picture of a borrower’s lifestyle can we suggest the right product for them. The value of this approach is clear for all to see – we have never had to repossess a property.”

Skipton International became the largest lender in Guernsey in 2010, claiming nearly a quarter of all mortgage business during 2010. At the same time, new lending in Jersey nearly doubled and total Jersey lending is now rapidly approaching the GBP200m mark.

Managing Director Jim Coupe underlined the importance of innovation for the company's success, and in particular the offering of Next Generation Mortgages. This popular product has opened the door to 100% loans for borrowers in Guernsey and Jersey. At the core of the Next Generation Mortgage is a solution to one of today’s biggest issues for borrowers, whether first or second time buyers, funding their deposit. Buyers selecting this mortgage are supported by a guarantor who provides security on their own property or by depositing a sum into a deposit account with Skipton International. Jim Coupe explains, “We have a culture of innovation here at Skipton International and are constantly evolving both our mortgage and savings portfolio to match the demands of the market. Our Next Generation Mortgage is an example of that and it has been at the core of our success both in Guernsey and Jersey.”

Skipton International Limited is part of Skipton Building Society, the fourth largest in the UK with nearly GBP14bn assets.