Colin has over 20 years of experience in the international finance sector, having worked for investment houses and trust companies before moving into banking in 2005, working for one of the major UK clearing banks in the Isle of Man. In 2011 he was seconded to Guernsey for 3 years as a Senior Relationship Manager within the bank’s Commercial Banking department, before returning to the Isle of Man in 2014. Colin has undertaken various roles within banking including business development, commercial lending, foreign exchange and liquidity management.
Colin is also involved with the Isle of Man Bankers Association and is a member of the London Institute of Banking and Finance serving as a committee member of its Isle of Man Branch. Colin also acts as a trustee on a couple of local charities.
Our principal loan offerings include business, buy-to-let and bridging loans.
We review each application on its merits and combined with the availability of a locally based credit committee for the sanctioning of lending proposals, credit decisions can be made quickly, ensuring a smooth and efficient lending process.
The nature of our loans is typically as a margin over the Cayman National's Base Rate ('Base'). The actual amount charged will therefore vary according to Base; with a competitive margin over Base applied, depending upon the nature, and the term of the facility, security type/margin offered, credit assessment and age of borrower, etc.
Please note; Loans will be secured by a first legal charge over property, or other comparable security, which will be subject to an independent professional valuation. Applicants must be aged 18 or over to be able to apply for a loan from the Bank. Changes to Base will impact upon the amount of the repayments payable by you and may therefore impact adversely on your ability to afford the loan repayments. All loan application approvals are conditional on meeting our standard credit criteria and will be subject to eligibility, status and financial standing. Buy to let loans are typically offered for a minimum of 1 year and a maximum of 15 years. Arrangement drawdown and early redemption fees may apply, together with early repayment interest penalties. Insurance will also be provided.
Our unauthorised borrowing rate can be found on our Interest Rate Sheet. It applies where an account has become overdrawn without the Bank's prior approval, or where an agreed facility has been exceeded (unless we have agreed a separate rate with our customer). Our loans are normally secured by way of a first legal charge against commercial properties located in the Isle of Man or UK, depending upon the Applicant's eligibility and the type of facility requested.
For more information about our lending facilities, please contact Colin Peters.
