Butterfield Launches Mortgage Services | Guernsey Press



Edward Jones, Head of Butterfield's Channel Islands Lending.  (29620528)
Edward Jones, Butterfield’s head of Channel Islands lending. (29620528)

The offshore bank and trust company said their wide range of mortgages were designed with local professionals in mind and could help buyers or homeowners looking for “a better deal, better service and more flexible solutions.”

“Butterfield took the time to prepare a residential mortgage proposal for Guernsey and Jersey to ensure that our products meet the needs and lifestyles of local professionals and residents,” said Edward Jones, Head of Lending for the Channel Islands.

“We understand that buying a home is an important decision and one of the biggest financial investments that many people make. As such, we are pleased to provide a personalized and tailored mortgage service that exemplifies the best-in-class standard for which Butterfield is known.

“We were able to streamline our application processes and attract customers in just a few days. We look forward to welcoming new clients to Butterfield and building on our existing presence in the Channel Islands. ”

Butterfield said all lending decisions will be made locally by experts who understand local markets. Promises efficient, fast and reliable service.

Lending based on a household’s minimum income rather than a wage multiplier is part of a proposal that Butterfield says gives clients the opportunity to increase the amount they can borrow.

The range of products includes a “lifestyle mortgage,” often referred to as a pending mortgage, which functions in a similar way to an overdraft facility. With this product, savings can be offset by a mortgage by reducing monthly payments. If these savings are required in a short time, they can be used without penalty.

A minimum family income of £ 120,000, plus an 80% loan of the value and a minimum loan of £ 400,000, is required for the mortgage.

There are also a number of fixed rate mortgages designed to provide confidence that payments will last longer, and interest rate tracked mortgages designed to help clients take advantage of low interest rates. Both types of products require a minimum household income of £ 80,000 with a loan of 80% and a minimum loan of £ 400,000.

Individual solutions such as rent-to-own and interest-bearing mortgages were also discussed, Butterfield said.

The launch of Butterfield’s mortgage offer was welcomed by the managing director of mortgage broker SPF Private Clients.

“It is always good to have an active new lender in the market,” said Pierre Blampier.

“We already have several deals with them. This is good news for the Guernsey mortgage market. They will compete in the professional and wealthy segment of the market. ”


Source link