Introducing the Next Generation Mortgage

The Skipton International Next Generation Mortgage provides mortgages up to 100% Loan To Value (LTV) for borrowers in Jersey, Guernsey and Alderney. This mortgage overcomes an increasing problem for first and second time buyers, the funding of a deposit, so will be particularly attractive to those looking to join the property ladder or move up to a larger home.

Buyers will need the support of a family member who is prepared to help them by providing a guarantee. The guarantee may be held as an interest earning cash deposit with Skipton International Limited or taken as a bond on a suitable property, such as a family home. The guarantee will be equivalent to the value of the mortgage that is in excess of 85% LTV.

Whilst many people would like to financially assist house buyers within their family they may not be able or wish to gift sufficient monies. The Next Generation Mortgage approach has the advantage of the guarantor maintaining ownership of funds and benefiting from interest income if the security is a cash deposit with Skipton International Limited. Whilst security is in place the guarantor will not be able to withdraw funds from the guarantee account. Further guarantee details are provided in our Frequently Asked Questions.

The Next Generation Mortgage is offered at a interest rate of 5.49% fixed until 31 March 2012, with a 0.75% administration fee. On maturity a variable rate will be offered of 1% above Skipton International's Standard Variable Rate (6.2% APR overall) or further new fixed rates may be offered.

For further information please read Our Frequently Asked Questions.

The Next Generation Mortgage is supported by Skipton International's truly personal service, where we ensure that our borrowers have the right product for their circumstances.

To apply for a next generation mortgage please complete either of the below application forms

Mortgage Application Form - Guernsey

Mortgage Application Form - Jersey

For customers with a deposit of 10% or more please note that Skipton International offers Fixed, Tracker and Standard Variable Rate mortgages as outlined in the product boxes on the right.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Base Rate Tracker Mortgage

From 3.19%

4.6%APR

find out more

2-Year Fixed Rate Mortgage

From 4.49%

5.1%APR

find out more

Standard Variable Rate Mortgage

From 4.99%

5.1%APR

find out more

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Security guarantee can take the form of an interest earning deposit with Skipton International Limited (SIL) or a charge on another property. 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 web site has been approved for distribution in the United Kingdom by Skipton Building Society.