A record year for Skipton International

Wednesday 14 January 2015

Last year was one to remember for Skipton International in Jersey as its local lending overtook Guernsey where it had been the largest provider of new mortgages for the prior four years.

Yet it looks set to be eclipsed by 2015 as the Channel Island bank continues to increase its Jersey mortgage book and becomes an international player.

Last year Skipton employed its first employee in Jersey, a dedicated island based Mortgage Sales Manager, Lorraine McLean. Lorraine’s appointment came just before Skipton’s gross value of mortgage lending in Jersey overtook its Guernsey lending with the number of new mortgages being offered in Jersey being more than twice that in Guernsey. It’s estimated that Skipton is now the second largest provider of new mortgages in the island and is now looking to widen its panel of Jersey surveyors to help with the demand.

The launch of British expat buy-to-let mortgages in July 2014, saw the fastest growth rate for the bank. The mortgages, which are being offered on English and Welsh properties, have proved very popular with expats looking to invest back home and Channel Islanders seeking to diversify their investments. That demand looks set to continue into 2015 with more expat applications now being processed than for Jersey.

The Managing Director, Jim Coupe, said: "We have grown steadily since the launch of Skipton International in 2009, following the amalgamation of Skipton Guernsey and Scarborough Channel Islands. We are recognised for our personal customer service, transparent communications, local expertise and our considered approach to both lending and savings. For 2015 we remain fully committed to the Channel Islands, and our local customers, while also expanding our overseas business reach through expat mortgages and more international savings accounts."

Locally there were other milestones in 2014, not least, Skipton International’s fifth anniversary, which saw the bank turn Mont Orgueil purple for a night.

Skipton International has always invested in the community and 2014 was no exception, with the continuation of its support for the Jersey Arts Trust’s Skipton Open Studios project, and also promoting International Purple Day to raise awareness and funding for Jersey Epilepsy Association.

The Skipton International savings business saw several new products launched during 2014, with strong interest from Jersey and across the world.

Skipton was also commended for its savings accounts in the Moneyfacts Best Offshore Account Provider category.