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SKIPTON INTERNATIONAL STARTS JERSEY MORTGAGE SERVICE

Skipton International, the new Jersey based specialist lending division within Skipton Guernsey Limited (SGL), will start lending to prospective Jersey homebuyers from 10 May 2005.

Initially operating via independent advisers Cherry Godfrey, Skipton International will offer a range of mortgage products which build on and develop SGL’s heritage as a competitive provider of home loan products on Guernsey and Alderney, where they have had a consistent share of around 20% of house purchase funding since October 2002.

Alan Bougourd, managing director of Skipton Guernsey commented, “The housing market on Jersey is vibrant and strong. With changes in local housing regulation likely to underpin demand and strengthen the market still further, we think this is an ideal time to start a Jersey lending operation and bring new choices to Jersey residents. We are delighted to be working with Cherry Godfrey who themselves have an excellent reputation in the Jersey community.”

Steve Ryan, Mortgage Manager, Cherry Godfrey said, “We are delighted to welcome Skipton International into the Jersey mortgage market and are excited to be able to offer a range of bespoke products on their behalf.”

Day to day managerial responsibility for the operation will lie with Skipton Guernsey’s Director of Lending, Nigel Pascoe who comments, “Our products are geared specifically to the needs of the local market, and if our track record on Guernsey is any guide, we expect demand on Jersey for our brand of competitive and personalised lending to be high. We will be offering both our usual core mortgage portfolio as well as products geared specifically to the Jersey market such as buy-to-let and cash-back loans. Our products offer buyers funding for up to 95% of the purchase price and with a competitive range of both fixed and variable rate products backed by a fast and personalised service, we are confident Skipton International will prove a popular choice for Jersey homebuyers.”

For further information contact Cherry Godfrey on 01534 711666 and ask about the full range of products from Skipton International.

For further information on Skipton Guernsey please contact:

Guy Stephenson/Deborah Kent Nacelle Limited

Tel: +44 (0)20 8333 9125

E-mail: info@nacelle.co.uk

Editor's Notes

Skipton Guernsey Limited (SGL) is a wholly owned subsidiary of Skipton Building Society. Deposits made with SGL are not covered by the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Skipton Building Society, established since 1853, has given an undertaking agreeing to discharge the liabilities of SGL in so far as SGL is unable to discharge them out of its own assets and whilst SGL remains a subsidiary of Skipton Building Society. SGL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended and conducts business only in Guernsey ; it is not authorised to accept deposits elsewhere. Copies of the latest audited accounts are available on request.