Property Purchase Bonds shows strengthening market

Property Purchase Bonds shows strengthening market

1st October 2018

The latest figures on the number of Guernsey properties purchased using Property Purchase Bonds, reflects a growing confidence in the local market. The figures, released by ABConveyances, was welcomed by Skipton International, who continue to be one of the island’s top mortgage lenders having provided 100 bonds so far this year.

The report for September shows the use of Property Purchase Bonds to be up by 6.3% in comparison to this time last year. Compared against the market low point in 2015, volumes are up by 45%, with more being completed so far this year than in the whole of 2015.

Managing Director of Skipton International, Jim Coupe, said: “This latest report is good news for the property market and further demonstrates improvements in mortgage availability. We are now seeing a much better mix of lenders across the island, demonstrating that banks are competing more for business. This will only strengthen the current market and offer islanders more competitive rates and packages. 

“With increasing provisions of credit into the mortgage market we would expect to see the level of property transactions further improve, supporting the continued recovery of the Guernsey property market.” 

To date, the award-winning Channel Island bank has lent over £34 million in Guernsey mortgages to homeowners this year. Skipton remains one of the top mortgage providers in Guernsey and through its exceptional levels of customer service, has forged a reputation as a lender of choice.