95 per cent mortgages to help Manx residents
The rising cost of living is making it 'a real challenge' for first-time buyers to get on the property ladder.
That's according to HSBC's Head of Retail Distribution for the Channel Islands and Isle of Man.
The bank has started to offer 95 per cent mortgages to help younger Manx residents purchase their first home.
Tania Sobey says it can be a daunting process:
Construction costs on the Island 18% above UK average and comparable with Outer London
'Key problems' include reliance on imported materials, labour shortages and planning delays
NEXT store to remain open
Strand Street outlet had been earmarked for closure
Island's 'premier destination' for celebrations to close in December
Woodbourne House blames economic pressures and maintenance concerns
Torden Stores announces it's closing down
Owners say it's not been an easy decision
