Marsden Building Society launches mortgages in Guernsey
We’ve partnered with SPF Private Clients, leading mortgage brokerage in Guernsey to offer residents access to a wider range of mortgage solutions.
The Guernsey launch represents a widening of our lending territory, with products available on island extending our existing mortgage support in England and Wales.
Rob Pheasey, Chief Executive at the Marsden said, “We’ve spent a significant time evaluating the Guernsey market to ensure that it strengthens our approach in the coming years and is in line with our ambitions too. We believe that our core lending competencies around residential markets from first time property purchase through to later life lending means we are ideally suited to the Guernsey market. The island doesn’t currently have a great deal of choice for customers who may not want to deal with the larger international banks and Marsden Building Society has real opportunity to bring our lending experience and make a difference.”
“Guernsey lending is ideally suited to our primary lending distribution channel where new borrowers are introduced to the Society from professional mortgage intermediary firms. We are exclusively positioned on Guernsey with Savills Private Clients, the largest mortgage broker on Island. Our aim is to become an established name on Guernsey for mortgages, with a commitment in the coming years to build a loan book on Guernsey, servicing the needs of Guernsey residents. This new lending initiative will remain somewhat modest in relation to our overall size, and we have plans not to exceed 10% of the overall mortgage base of the Society, with the majority of mortgages remaining on property securities in England & Wales.”
We’ve spent two years evaluating the Guernsey lending proposition and have no plans to launch branches or a savings account operation in Guernsey and will maintain its service delivery via partners on island. Our continued focus for savers will be delivered through our branches, an important aspect of our delivery being the face-to-face conversational services on high street across the North West.
For more information about Marsden Building Society, their partnership with SPF Private Clients or for the products that are available to customers, please visit their dedicated Guernsey page at www.themarsden.co.uk/guernsey or speak to a member of the SPF team on 01481 715234.