Skipton International Ltd
PO Box 509, Fairbairn House, Rohais, St Peter Port, Guernsey, GY1 6DS
www.skiptoninternational.cominfo@skiptoninternational.comAbout
Skipton International, offering a wide range of Offshore Saving Accounts and Channel Island & UK Expat Mortgages
Skipton International was established in Guernsey in 2009 after an amalgamation of Skipton Guernsey and Scarborough Channel Islands.
Mortgages
Skipton International quickly established itself as the leading mortgage lender in Guernsey, and started lending in Jersey in 2005. Its Jersey business has now exceeded its lending in Guernsey. It’s been through open and transparent criteria, local decision making and a focus on superior service quality(including fast turn around of underwriting decisions) that Skipton International has built its reputation. It also offers innovative products, such as the Next Generation Mortgage, which is a 100% Loan to Value product that helps 1st time buyers get on the property ladder through the support of a family member who is prepared to provide a guarantee. The Next Generation mortgage is in addition to the range of conventional fixed and variable rate options offered by Skipton International for primary residential and Buy to Let purposes.
With the aim of helping first time buyers achieve their aspiration of home ownership, Skipton International was the only lender in Jersey to support the State’s run Starter Home Deposit Loan scheme in 2013. The scheme saw prospective home owners being able to borrow up to 15% of the purchase price from the States and helped provide a stimulus to the housing market in the Island.
Following the success of the scheme in Jersey, Skipton International was delighted to announce in 2014 it had partnered with the Guernsey Housing Association, providing mortgages for its partial ownership scheme. This States supported scheme is designed to help those who want to stop renting and buy a property, but who would otherwise not be able to afford a home of their own.
Skipton International believes its mortgage lending success is down to its genuinely personalised service that ensures people can afford their new mortgage not just now, but also with some flexibility built in should circumstances alter. When a customer rings they will talk to one of the local team which includes the bank’s underwriters, ensuring a quick decision.
This quick decision making process is also one of the reasons why Skipton International’s new UK buy to let mortgages for British Expatriates and Channel Island residents are becoming so popular. With few lenders in this market and an average turnaround once an application is received of just two days, it has provided an ideal opportunity to purchase a property or remortgage as part of an investment portfolio or pension plan.
The popularity of our Expat mortgages reflects the desire to take advantage of the long-term price inflation seen in UK property values. For new residents in Guernsey or Jersey it also includes the ability to release funds from an existing UK residential property to help fund a purchase in the Channel Islands.
Savings
It is Skipton International’s extensive experience in serving the savings needs of British Expatriates across the globe, that enabled the bank to understand the difficulties expats can face accessing UK financial products. The bank offers a range of offshore savings accounts including Notice, Easy Access and occasionally Fixed Rate accounts in Sterling. There are attractive rates on offer as well as various options to receive a monthly or annual income from your investment. Skipton International has savings products open to corporate customers, Trust Companies and Pension Plans as well as to individuals.
Savers need peace of mind as well as attractive rates, they’ve worked hard for their money. Establishing a relationship with customers is very important. Skipton International is in it for the long term and does not want to attract new customers with an enticing rate, only to quietly adjust those rates down once they’re on board. We promise that we will communicate changes clearly and honestly, something our customers appreciate.
Guernsey
As Skipton International is based in Guernsey, it is located in one of the world’s most reputable, well-established and regulated financial centres. Guernsey is located just 120 kilometers from the UK, and about 45 kilometres to the west of northern France. It is English speaking and has had centuries of political stability and good governance. It is in the same time zone as London and its modern global finance industry operates under the watch of the Guernsey Financial Services Commission ensuring leading international standards are adhered to.
In the Community
Skipton believes in investing in its local community, sponsoring the Jersey Arts Trust’s Skipton Open Studios ince 2012, and the Skipton Swimarathon in Guernsey since 2010. As well as supporting other local charities and sporting groups.
Depositor Protection
Skipton International has a low risk appetite where depositor funds are invested in prime mortgages that avoid undue risk and the bank holds sufficient liquid funds to repay depositors as required, even under severe economic conditions. All depositor funds are invested in assets in Skipton International's name and uniquely for an offshore bank we have little financial exposure to our parent as we do not upstream funds. In addition there are two forms of further protection available to depositors.
Firstly, Skipton International is a wholly owned subsidiary of Skipton Building Society which is the fourth largest building society in the UK and was formed in 1853. Skipton Building Society has given an undertaking agreeing to discharge the liabilities of Skipton International in so far as Skipton International is unable to discharge them out of its own assets and whilst Skipton International remains a subsidiary of Skipton Building Society.
Secondly, as a Licensed Bank in Guernsey, Skipton International is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme's website www.dcs.gg or on request.
It should be noted that deposits made with Skipton International are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000.Categories: Banks, Mortgage Services.
