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Guernsey 100% Mortgage Product Guide

Skipton mortgage experts guide you through every step of your mortgage process from the initial enquiry all the way through to the property purchase.
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  • What are the benefits?

    The Skipton International Guernsey 100% Mortgage will fund up to 100% of a value of the property being purchased in Guernsey. The purchaser needs to enlist the support of a family member who will guarantee up to 20% of the purchase price of the property. This new mortgage opens the door for first time buyers and those who might be struggling to raise the deposit from their own means.

  • How much can be borrowed?

    Up to £500,000 providing the borrower meets Skipton International's standard underwriting criteria.

  • What security will be taken?

    A Guernsey legal charge over the property being purchased plus a Guarantee of up to 20% of the value of the property.

  • Will the guarantee be supported by additional security?

    Yes. The Guarantee will be supported by a Bond over the Guarantors property in Guernsey for the same amount of the Guarantee.

    A Bond on the Guarantor's property would be taken providing any existing Bonding on the Guarantor's property plus the proposed Bond does not exceed 85% of the value of that property.

  • Valuation

    Please note, unless otherwise advised Skipton International will require an up to date satisfactory valuation of your property to establish your Loan to Value and suitability for the Guarantee. Skipton International will advise how to proceed once your application has been processed.

  • Who can give the Guarantee?

    A family member of the person(s) purchasing the property.

  • When can the Guarantee be cancelled?

    The Guarantee will remain in force until the Loan To Value (LTV) on the borrower's property reduces to 90% or below. The calculation of LTV will be backed up by a valuation from a valuer on Skipton International's approved panel. Also, a good repayment history must have been maintained for the proceeding 12 months and the mortgage requirement remains within Skipton International's lending criteria.

  • What interest rate will be charged on the mortgage?

    The Guernsey 100% Mortgage is offered with fixed rate interest options.

    On maturity, Skipton International’s Channel Islands Residential Follow on Rate will be offered.  Further new fixed rates may also be offered.

  • Will Skipton charge any fees?

    Yes, you will be required to cover the cost of a Standard Valuation for the property that you wish to purchase.  Please see the Guernsey Valuation Fee Scale for further information.  Once completed, a copy of the Valuation will be provided to you. You will also be required to cover the cost of a valuation on your guarantor’s property.   The underwriter will advise upon approval of your facility the type of valuation required on the guarantor’s property

    Following the initial Valuation, should you choose to substitute the property with a different property, we will charge the relevant fee for the new Valuation.

    If you have any questions, please feel free to contact us.

  • Are there any other fees for the Guarantor?

    Yes. The Guarantor will be responsible for independent legal advice when signing the Guarantee, the Bond cost on the Guarantor's property and a valuation if required. The applicant is also responsible for the legal fees and valuation on the property being purchased.

  • Will any early repayment charges apply?

    If you repay the mortgage before the maturity of the fixed term the following early repayment charges will apply:-

    Year 1 – 5%

    Year 2 – 4%

    Year 3 – 3%

    Year 4 – 2%

    Year 5 – 1.5%

Your home may be repossessed if you do not keep up repayments on your mortgage.