Guernsey Press

The Marsden is latest mortgage lender to the Guernsey market

GUERNSEY has a new mortgage lender.

Published
Rob Pheasey, chief executive, the Marsden Building Society, which is offering loans in the island from today.

Marsden Building Society, which is based in Lancashire, has opened its doors for business on the island with a range of mortgages.

It also has plans to offer 100% mortgages, help for first-time buyers, allow islanders with property in the UK to use that to raise a deposit locally and support people looking to buy into the British market.

Signalling a long-term commitment to the island, the society’s chief executive, Rob Pheasey, said The Marsden wanted to become the ‘go-to’ lender and was looking to build of a loan book of around £60m. in the coming years.

The news comes after two years of preparatory work and as the society – which is registered with the Guernsey Financial Services Commission – is working closely with mortgage advisers SPF Private Clients to widen access to mortgages available to islanders.

‘We’re delighted to be able to widen the choice of mortgages available for Guernsey customers through our lending solutions,’ said Mr Pheasey, the society’s chief executive. ‘We’ve been working closely with SPF to ensure that our products reflect the needs of Guernsey customers.

‘All of our mortgages can be accessed through the SPF team from today, and we look forward to working with them.’

He added that the society’s entry into Guernsey was a sign of confidence in the local housing market and wider economy, with The Marsden seeing a ‘good future’ for the island.

‘We don’t want to be just seen as a lender trying something and then disappearing. So we are very keen to build a presence on the island. We do want to create a sense that we are here to stay and been seen as part of the Guernsey community.’

Pierre Blampied, managing director of SPF Private Clients, said: ‘We have been working closely with The Marsden over the past two years to understand their products and their mortgage journey for a Guernsey customer, and are looking forward to introducing our clients to their wide product range.

‘SPF are once again the only mortgage advisors with full access to every lender on the island, which gives customers a full range of product options when they speak to a member of our team.

‘We are delighted to be chosen as Marsden’s partner in Guernsey and this is based on our number of years’ experience in the local market and using our expertise to design mortgage products which are needed locally.’