'Majority' of Island buyers can field 40% deposit - IoM Bank

Country head welcomes introduction of new >1% mortgage

The Country Head of Isle of Man Bank says the majority of its customers will be able to put forward a 40 per cent deposit on a property.

Earlier this month the bank announced its first ever fixed-rate mortgage with an interest rate below one per cent.

Last year, house prices on the Isle of Man averaged at £313,000.

Stuart Chivers says people have had time to 'focus' financially during the pandemic: