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Guernsey Mortgages

How to Get a Mortgage in Guernsey and Where to Find Advice if You’re Buying a Property There

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: June 14, 2022

If you’re planning to buy a home in Guernsey and need a mortgage, you may want to find out more about the type of mortgage you could choose from.

That’s where we can help. Among the many mortgage enquiries we get, homebuyers in all kinds of circumstances phone up with questions about how to get a mortgage in Guernsey.

We would always recommend you speak with an experienced mortgage broker if you’re looking for more information about mortgages. However, we also know it can be useful to have some important details about a topic as important as mortgages.

With that in mind, we’ve written this article about Guernsey mortgages.

Are mortgages in Guernsey different from in the UK?

If you want to get a Guernsey mortgage then, in most ways, the process and the terms would be similar to a UK mortgage.

Things like the types of mortgages you can get are the same. You also have the option of repayment or interest-only deal, just like in the UK.

One notable difference is that in some circumstances in Guernsey, you can claim mortgage interest tax relief. Although this is being phased out, it’s still available until 2025.

To find out more about the important differences between UK and Guernsey mortgages and how they might affect your home-buying decisions, speaking with a mortgage expert, like the brokers we work with, can be helpful. They can answer all your questions and help you save money and time while helping you find the right mortgage for your needs.

How do I get a mortgage in Guernsey?

There are a growing number of lenders who can provide a mortgage a Guernsey property. If you’re comfortable carrying out your own research, you can approach those lenders individually or use a comparison website.

However, those options won’t give you access to the whole market and you may miss out on the best Guernsey mortgage for you. A fully qualified mortgage broker with experience in the Guernsey mortgage market has access to information about all the deals that are available.

That means they can ensure you get the best Guernsey mortgage that’s available and suitable for your specific situation.

How much can I borrow for a mortgage in Guernsey?

As with all mortgages, how much you can borrow for a mortgage in Guernsey depends on a number of factors:

  • The size of your deposit.
  • How long you would like the mortgage for.
  • How much you can afford to repay each month.
  • Your credit history.
  • Your combined earnings.

If you’re looking for a larger mortgage, then this is also a possibility. To get a rough idea of how much you can borrow you could use a Guernsey mortgage calculator.

Why Guernsey mortgage calculators won’t paint the full picture

To get a better idea of how much you can borrow for a Guernsey mortgage then online calculator tools can be of some (limited) use.

Keep in mind that every lender uses a different calculator and the mortgage amounts they will quote you can vary considerably. Moreover, the calculators you’ll find online aren’t tailored to your needs and circumstances, so all you’ll get is a rough estimate.

That’s why speaking to a whole-of-market broker is recommended. They can provide you with bespoke calculations based on your profile as a borrower, and introduce you to the lender whose calculator is most likely to come back with favourable results.

What LTV ratios can I get for a Guernsey mortgage?

When it comes to loan to value (LTV) ratios for Guernsey mortgages, the concept is the same as in the UK. The higher the deposit you can pay down then the smaller the mortgage LTV you need.

You can secure a number of different LTVs for your Guernsey mortgage, including where you have a smaller deposit.

90% LTV Guernsey mortgage

If you have a 10% deposit and need a 90% LTV Guernsey mortgage then you should have quite a few lenders and products to choose from. How many options you have depends on your specific circumstances, including the value of the home you would like to buy.

95% LTV Guernsey mortgages

If you have a smaller deposit and can only pay down 5% of the value of the property, you will need a 95% LTV mortgage for your Guernsey home. There will still be some options for your mortgage. However, you may pay a higher rate or interest on a loan with a higher LTV.

100% LTV Guernsey mortgages

For home buyers who don’t have any mortgage deposit, it might be possible to get a 100% mortgage for your Guernsey home (usually only an option if you have a guarantor).

However, your choice would be limited and the rate of mortgage interest would certainly be higher than for other LTV mortgages.

To ensure you can find out the details of all the 100% LTV Guernsey mortgages that are available, it can be a good idea to speak with an experienced mortgage advisor, like those we work with.

Fully qualified mortgage experts can answer any questions you have about 100% LTV mortgages in Guernsey and help you get the best product for your needs.

Will I get mortgage interest tax relief in Guernsey?

Although the rules are changing, it is still possible to claim mortgage interest tax relief on a Guernsey mortgage. The relief can be claimed on the first £400,000 of any mortgage. However, the percentage home-owners can claim is being reduced each year until 2025, when it will be phased out.

If your Guernsey mortgage is in the single name of the home buyer then you can only claim mortgage interest tax relief for a single person. However, where the mortgage is taken out by a couple, then the mortgage interest tax relief will be higher.

For more details on mortgage interest tax relief in Guernsey, you can speak with a Guernsey mortgage expert. They can answer any questions you have and help you understand all the details of getting a mortgage in Guernsey.

What mortgage interest rates are available in Guernsey?

Currently, mortgage interest rates available for a Guernsey mortgage are similar to those in the UK. They range from a little above 1.5% to around the 5% mark. Which rate you can secure depends on a number of details, many of which are personal to you.

They include:

  • How much you wish to borrow.
  • The size of your deposit.
  • The value of the property you’re buying.
  • Your financial history.
  • Your working status and salary.
  • The mortgage term you’d prefer to agree.
  • Which lender you choose.
  • The type of mortgage you agree.

The lower mortgage interest rates for your Guernsey secured loan are typically available on tracker mortgages and two-year fixed-rate deals. However, this can vary from lender to lender.

What is the best Guernsey mortgage?

As with most financial products, the best Guernsey mortgage isn’t an easy thing to pinpoint. That’s because where one product is best for one home-buyer, a different Guernsey mortgage is best for a different buyer.

With so many different types of mortgage available for your Guernsey home purchase, it’s a good idea to shop around and find out more about the different mortgage products that are available for you. This can be time-consuming, but it doesn’t have to be.

If you speak with a fully qualified and experienced mortgage broker, like those we work with, they can save you time searching for the best Guernsey mortgage for you. And they can also save you money by finding the best product and mortgage interest rate that’s available to you.

How can I compare Guernsey mortgages?

Making a comparison between different Guernsey mortgages might sound simple; you just gather together the information on a few that interest you and compare rates, fees and terms, right?

Well, it’s not quite that simple. Not all mortgages have terms that are directly comparable. In addition, there are some situations where you might do all your research and come up with the perfect deal, only to find that it’s no longer available or, for some reason you hadn’t noticed, it’s not available to you.

A mortgage advisor can take the pain out of your Guernsey mortgage comparison plans. They have access to the whole of market and because it’s their job, they know what’s available to you and what might not be. In this way they can save you time, disappointment and money.

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Which lenders provide Guernsey mortgages?

As we stated at the beginning of this article, in recent years a growing number of lenders have entered the Guernsey mortgage market. This means that most home-buyers have a good level of choice when looking to buy a home.

Below we’ve listed a few Guernsey mortgage providers that could offer the best mortgage for you.

Guernsey mortgages from Barclays

Barclays provides Guernsey mortgages that can help you buy a home on the island. They offer a range of products including fixed-rate and tracker mortgages. There are a range of mortgage interest rates available on your Guernsey mortgage and the Barclays Wealth Management team may be able to help you with a broader investment plan.

However, they can only give you details of Barclays’ range of Guernsey mortgages if you go direct to them, which means you may miss out on a better mortgage from a different provider.

HSBC Guernsey mortgages

HSBC is another provider that offers Guernsey mortgages. Again they have a range of products and interest rates available. However, which ones would be available to you and suit your needs best, depends on your circumstances.

To be certain a Guernsey mortgage from HSBC would be best for you, it’s a good idea to compare their products with other providers, or better yet, have a broker do this for you.

Guernsey mortgages with Lloyds Bank

Like other lenders, Lloyds Bank has a dedicated Channel Islands team and they have a range of Guernsey mortgage products. Their interest rates vary depending on the product and other details, including your chosen LTV.

A Guernsey mortgage expert can help you decide if a Lloyds Guernsey mortgage is the best option for you, or if a different provider could give you the mortgage you need.

NatWest Guernsey mortgages

NatWest bank provides offshore products for Guernsey mortgages. They can offer a variety of mortgage types and interest rates. Again, what’s available to you depends on your needs, history and current circumstances. NatWest also has its own Guernsey mortgage calculator which is similar to the one we included earlier in our article.

An easier way to find the best mortgage for you is to speak with an experienced mortgage advisor like those we work with. They can do the hard work of searching through current Guernsey mortgage providers and products to ensure you secure the best mortgage for your needs.

Guernsey mortgages with Royal Bank of Scotland

The Royal Bank of Scotland, also known as RBS, is able to provide Guernsey mortgages through its RBS International brand. Through that, RBS can offer a number of different Guernsey mortgage products with a variety of mortgage interest rates.

There are a number of options to find out more.

They include:

  • Contact RBS International.
  • Use a comparison website.
  • Speak with a mortgage broker who has access to the whole of market for Guernsey mortgages.

Skipton Guernsey mortgages

Skipton offers a range of international mortgages, including for Guernsey. They produce an international house price index which can help you understand how much property is worth on the island.

They also, like other Guernsey mortgage providers, offer a range of Guernsey mortgages and interest rates.

Speak to a Guernsey mortgage expert

If you’re interested in buying a home in Guernsey and would like to find out more about mortgages there, then you could get in touch with us at Online Mortgage Advisor. Give us a call on 0808 189 2301 or fill in our online mortgage enquiry form.

Once you’ve given us your details you can then sit back and relax while we do the hard work of putting you in touch with the right mortgage broker for your needs.


Can I get a lifetime mortgage in Guernsey?

It may be possible to secure a lifetime mortgage in Guernsey but to understand what you’re agreeing to and to find the best product, it can make sense to speak with a Guernsey mortgage expert.

How do self-build mortgages work in Guernsey?

Self-build mortgages work differently from lender-to-lender and from country-to-country. Like in the UK, you may be able to secure a self-build mortgage in Guernsey that release a proportion of the secured loan on an agreed timescale, while others will require certain conditions be fulfilled before the next portion of your self-build mortgage is released.

Are there Large mortgages in Guernsey?

A range of large mortgage loans are available in Guernsey with a number of specialist lenders, companies and advisors available to help you with your mortgage application.

Are there First-time buyer mortgages in Guernsey?

A number of lenders offer Guernsey mortgages specifically for first-time buyers.

Can I get life insurance in Guernsey?

Life insurance in Guernsey is similar to life insurance in the UK and elsewhere. The cover you need depends on your specific circumstances.

Can I get an interest-only mortgage in Guernsey?

Yes, it’s possible to get an interest-only mortgage in Guernsey.

Are there family mortgages in Guernsey?

If you’re buying a home in Guernsey, some lenders offer friends and family mortgages. They are particularly useful when a younger member of the family wishes to buy a home but needs financial support from their parents or other family members.

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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