The Jersey Property Guide

"Buying your first home in Jersey may seem a little overwhelming, but Skipton is here to help you to understand what to expect and how we can make the process as simple and hassle free as possible."

Skipton's qualified, dedicated mortgage experts guide you through every step of your mortgage process from the initial enquiry all the way through to the property purchase. We can assist with purchases, equity release, change of ownership and remortgages. Here are just some of the reasons you should choose Skipton:

• No arrangement fees
• Excellent customer service Feefo rating
• Mortgages are transferable to new properties
• Prompt lending decisions
• No product fees when your existing rate matures
• All lending decisions are made in Guernsey by our local underwriters
• Personal point of contact throughout the application process
• Simple application process 
• Obtain an approved in principal decision within 10 minutes (with our online calculators or over the phone)

Guide to your mortgage application

Stage 1 - Application

Once you have found your dream home, the first step will be to make an appointment to come in and speak to one of the Jersey team in the Waterloo Street Branch, in St Helier. We will complete an application form together, along with you providing suitable supporting documents, including identification, proof of address and income, bank statements, evidence of any current financial commitments and proof of deposit/gift etc. We may request additional information to substantiate any application.

Once this has been completed our team will underwrite the case, ensuring all information provided is accurate, and also complete a credit check. If everything is satisfactory we will provide you with an approval in principle. This will be issued subject to a satisfactory valuation.

Stage 2 - Valuation

We request that a survey is carried out, to confirm that the property is suitable security for Skipton International. This will confirm the current value, and the property’s rebuild cost for insurance purposes. It may also highlight if there are any defects, and also may recommend that further specialist reports are obtained. Please note this survey is not a Homebuyers report, if one is required this will have to be instructed independently by yourselves. You can find the fees for a valuation in Jersey here. 

Stage 3 - Offer

Once we are happy with the valuation and all other requirements have been met, we will issue the offer document to you. At the same time, the loan documents will be sent over to Skipton’s lawyers at Carey Olsen for their checks on the new property to be carried out. We will request that you check over the offer document carefully, remembering to ask any questions if there is anything you are unsure about.

Once you are happy, then sign and return. Your own lawyer will contact you to make an appointment to go in and sign the legal documents usually the week of completion, this will be after they have received our confirmation we are happy to proceed. At this meeting they will go through specifics like boundaries, maintenance, and your general legal obligations pertaining to the purchase. Again this is your ideal opportunity to ask questions.

Stage 4 - Completion

You will by now have set a completion date, usually in agreement with all legal parties, vendors and purchasers. If there are several parties involved in a chain there may sometimes be delays, but if all parties set realistic expectations of time scales for all parties to complete their work, then this can usually be kept to a minimum. If you are buying a Flying Freehold or Property Freehold then this will be done on a Friday and the purchase will pass ‘contract’. If it is a Share Transfer this can be completed any day of the week. The keys are handed to you immediately following the legal completion, and can start to make your new house into a home.

Congratulations, you are now a Skipton mortgage customer and new home owner!