Local Market mortgages in Guernsey

Local Market property in Guernsey can generally only be occupied by people with Guernsey residential qualifications or a permit, while Open Market property can be occupied by British and Irish citizens and others without local qualifications. The two markets have separate registers and different typical price levels.

Deposit requirements for a Guernsey Open Market property vary by lender, and no single percentage applies across the market. Open Market homes are typically higher in value than Local Market homes, so lenders may apply stricter maximum loan to value (LTV) limits. Private banks may also lend against investment assets in place of a larger cash deposit.

Local market conditions affect valuations, occupancy assumptions, and fee sustainability. Lenders assess local demand, competition, staffing availability, and reliance on local authority funding when determining lending appetite and affordability.

Yes, mortgages are available in Guernsey from banks and lenders licensed by the Guernsey Financial Services Commission (GFSC). Eligibility depends on the borrower's residential status, the property's Local Market or Open Market category, income, and deposit. Fewer lenders operate in Guernsey than in the United Kingdom, so lender selection is important.

Guernsey mortgages are offered by retail banks with a presence on the island, Channel Islands specialist lenders, and private banks, all of which must be licensed to lend in the Bailiwick by the Guernsey Financial Services Commission (GFSC). Most United Kingdom high street lenders do not lend on Guernsey property.