Skipton International Top Guernsey Lender for Third Year Running

ST PETER PORT, Guernsey, January 14, 2013 /PRNewswire/ --

Offshore savings and mortgage bank Skipton International has retained the number one spot for new Guernsey mortgage lending for the third year running, claiming over 20% of all new residential mortgage bonds issued during 2012. Of the 646 bonds completed, 137 related to Skipton International, putting them comfortably ahead of their nearest rivals. Skipton International has also seen its new lending in the Jersey mortgage market grow in 2012, with over 1000 homeowners there now having a Skipton International mortgage.

Nigel Pascoe, Director of Lending, Skipton International said, "With the overall market contracting very slightly during 2012, we have had to work  hard to retain our number one ranking, both by volume and value. There is still evidence of caution in the market, making a genuinely personalised approach to home buying even more important. At Skipton International, we have a strong reputation for service, as all applications are handled here in Guernsey and we are able to give a decision in principle over the phone. Our focus on the individual homebuyer means we always have a thorough understanding of each customer's circumstances before they take on a mortgage. This is one reason why we have never had to repossess a property, a fact which gives our customers considerable comfort."

Skipton International continued a strong performance in its other main area of business, offshore personal and company deposits, achieving a "Highly Commended" award in the best offshore account provider category from leading industry comparison website Moneyfacts and a commendation for its sterling offshore deposit accounts from specialist media title, Nexus.

Jim Coupe, Managing Director ends, "For our customers and staff alike, 2012 was another outstanding year. In difficult markets customers look for strength, transparency and service and we will continue to focus on these pillars of our business.  We are delighted to have retained the number one Guernsey mortgage lender spot for the third year running and are looking forward to 2013 with great confidence."  

For more information on Skipton International mortgage products, visit http://www.skiptoninternational.com or call +44(0)1481-730-730

Editor's notes:

1. AER stands for Annual Equivalent Rate and illustrates what the rate would be if interest was paid and added each year.

2. Skipton International Limited (SIL) is a wholly owned subsidiary of Skipton Building Society (SBS), the UK's 4^th largest building society with nearly £14 billion assets.

3. SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended.

4. Skipton Building Society 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 Skipton Building Society.

5. As a Licensed Bank in Guernsey, Skipton International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the "Scheme") established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance"). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

- The Scheme only applies to 'qualifying deposits', which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as, for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts, partnerships or charities.

- The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form.

- Compensation is limited to a maximum of £50,000 per individual claimant; in the case of a joint account each depositor would be entitled.

- Total Scheme compensation in any five year period is limited to £100 million. If claims exceed this cap, compensation would be reduced pro rata. The cap also means that compensation in respect of any one bank cannot exceed £100 million.

- The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.

- Further information and a leaflet about the Scheme is available at:

Website:  http://www.dcs.gg 
Telephone:  +44(0)1481-722756
Post: P.O. Box 380, St Peter Port, GY1 3FY

6. Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000.

7. Copies of the latest SIL audited accounts are available on request.

Media contacts: Please contact:

Guy Stephenson/Jennifer Duffy
Nacelle Limited
Tel:  +44(0)20-8333-9125
+44(0)7980-241-558
E-mail: jenny@nacelle.co.uk