Key criteria

Channel Island residents purchasing properties within the Channel Islands.

The application needs to be submitted via the eMortgage portal and all documents uploaded there.

• Client
  1. Each applicant must be a resident and tax resident of the Channel Islands for residential applications. 
  2. Each applicant must have the appropriate qualifications to purchase a residential property.
  3. Each applicant must be employed and must be able to pass any probationary period by completion of the mortgage.
  4. The minimum income for a sole applicant for a residential mortgage is £36,000 and £52,000 for a joint application.  For a BTL application this rises to £40,000 for a sole application or £80,000 for a joint application.
  5. The minimum loan size is £100,000 or £25,000 for a further advance application.
  6. The maximum term is 40 years.
  7. Residential mortgages must be repaid by the States retirement age. For BTL mortgages only, the maximum age of applicants at the start of the mortgage is 75 and maximum age at expiry of mortgage is 84.
  8. For a home improvement application, planning permissions, if applicable, will need to be in place prior to application.  Quotes may required depending on the scale of the works.
  9. The client needs to have a bank or building society account from which direct debits can be arranged to pay their mortgage. 
  10. The client can never have been declared bankrupt, insolvent or equivalent and no action should be pending. They should never have entered into any arrangement with creditors or party to a voluntary arrangement. Should never had a property repossessed by a lender or entered into an arrangement for mortgage arrears. They should also not have an unsatisfied court order or have any such actions pending.  If a court order has been satisfied, we will look at this on a case by case basis.
• Portfolio Landlord

  Once an applicant owns, or will own as a result of their proposed purchase(s), four or more mortgaged Buy-To-Let properties, they are classified as a "Portfolio Landlord" by Skipton International.

  If you are a Portfolio Landlord as defined above, Skipton requires any properties within the portfolio to meet Skipton International’s Buy-to-Let affordability criteria. This means that rental income must provide a minimum of 125% interest cover, when interest is calculated on total borrowings at a rate of 7.24%. This calculation is applied to all Buy-To-Let properties mortgaged outside Skipton International on a collective basis. In the event of a rental shortfall, the application will be declined.

  In addition:

  • Skipton International can offer a maximum of 5 Buy-To-Let mortgages to any one client.
  • Skipton International is unable to accept applications from clients who have or will have at the end of this transaction more than 10 Buy-To-Let properties.
  • Skipton International will allow a maximum of 3 Buy-To-Let properties, within the whole portfolio, to be held within any 1 post code district, e.g. SW1. In the event of more being held, the application will be declined.