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Legal

Skipton International Limited (SIL) is a wholly owned subsidiary of Skipton Building Society.

SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended and conducts business only in Guernsey, it is not authorised to accept deposits elsewhere. Copies of the latest audited accounts are available on request.

Skipton Building Society, established since 1853, has given an undertaking agreeing to discharge the liabilities of SIL, in so far as SIL is unable to discharge them out of its own assets whilst SIL remains a subsidiary of Skipton Building Society.

As a Licensed Bank in Guernsey, SIL is a participant in the Guernsey Banking Deposit Compensation Scheme (the "Scheme") established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance"). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

• The Scheme only applies to "qualifying deposits", which broadly means deposits made by natural persons for their own benefits; with a few limited exceptions such as, for example, deposits made by trustees of retirements annuity trust schemes, the Scheme does not apply to companies, trusts partnerships or charities.
• The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Payments will be made within 3 months of the Bank's failure.
• Compensation is limited to a maximum of £50,000 per individual claimant; in the case of a joint account each depositors would be entitled.
• Total Scheme compensation in any five year period is limited to £100 million. If this limit was exceeded, compensation would be reduced pro rata.
• The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.

Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Minimum age 18 years. All mortgages are subject to status and valuation. SIL requires a first charge on the property as security. Registered Office: Fairbairn House, Rohais, St Peter Port, Guernsey GY1 6DS. SIL registered in Guernsey: 30112, is a wholly owned subsidiary of Skipton Building Society (SBS). SBS, established 1853, has given an undertaking agreeing to discharge the liabilities of SIL in so far as SIL is unable to discharge them out of its own assets and whilst SIL remains a subsidiary of SBS. SIL 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. Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000. SIL places funds with SBS and thus its financial standing is linked to SBS. Publicly available information, including reports and accounts, is available from www.skipton.co.uk. SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended. Copies of the latest audited accounts are available on request. To help maintain service and quality, telephone calls may be recorded and monitored. The content of this website have has approved for distribution in the United Kingdom by Skipton Building Society.