Lorraine McLean, Mortgage Sales Manager, Skipton International "The market has got off to a very busy and positive start since the first week in January 2016, and looks to continue, going forward into Spring. This may be an indication that the Jersey market is picking up momentum and starting to show true signs of recovery.
Mortgage Interest rates are at a historic low, and clients seem to be taking advantage of this by securing their rates for as long as possible. Skipton International have launched a five year fixed rate at 2.99% (up to 65% ltv) which means buyers can also lock into this, giving them security on their payments for a pre-determined term. This all helps contribute to buyers feeling more secure about moving forwards with purchases.
Skipton also offers the Next Generation Mortgage which enables clients who don't have a deposit, to still buy with the security of a guarantor. This is a great way for young first time buyers get onto the Ladder, with the help of parents, who don't necessarily have the 'cash' available to gift a deposit but can assist by utilising an element of their own properties as security.
Over the past six months we have seen the highest number of enquiries for some time. Buyers seem much more confident than they have for a long time and this seems like the start of a very positive year for all concerned".