Guest Blog - Pierre Blampied, SPF Clients
In this month’s guest blog, we speak to Pierre Blampied, Managing Director of SPF Clients, who outlines the key things must consider before buying a property in Guernsey.
This article has been prepared for general guidance and interest only and does not constitute professional advice. No liability is accepted for any direct, indirect or consequential loss arising from using the content, and the same is specifically excluded.
If you’ve been tempted to relocate to our beautiful island of Guernsey, then buying a home will be a priority and you might initially be concerned to find that many of the usual lending routes aren’t available here.
Don’t let this worry you! Although the market is slightly different, there is still a wide range of mortgage products to choose from, which local service providers would be happy to discuss with you.
The mainstream lenders offer competitive interest rates and are keen to lend greater salary multiples than those available onshore. We also work with Private Banks that offer bespoke lending solutions primarily on interest-only terms with flexibility for making lump sum reductions without penalty. Generally, the pricing is based on a set margin over the Bank of England base rate.
Guernsey has so much to offer anyone relocating here; whether you’re an individual moving to take up a new career opportunity or have a family looking for a better quality of life, you will quickly and smoothly find the product that is right for you.
The island is also a desirable proposition for high net worth individuals looking to relocate. On-island, you will find a wealth of experience in managing more complicated finances due to our internationally recognised status as a financial services centre of excellence. Local service providers can identify the most appropriate lender to suit even the most complex borrowing requirements.
Guernsey is well connected to the UK. Should you have exposure to property in the UK, encompassing buy-to-let, commercial and development property, you can easily find experts who can work seamlessly with UK based colleagues to suit your needs.
SPF Private Clients is part of Howden Broking Group. They dealt with over 100 different lenders in 2022 to assist with offshore and onshore borrowing to cover all areas of property lending. For further information, please visit www.spf.gg or contact Pierre on +44(0)1481 715234 or on PBlampied@spf.gg.
If you are considering relocating to the island, the team at Locate Guernsey are on hand to provide confidential guidance throughout your relocation journey free of charge. If you would like to understand how Guernsey could work for you, please get in touch on 01481 220011 or email email@example.com.