Barclays Wealth

Isle of Man property event sponsored by Barclays Wealth

Barclays Wealth sponsored the first Junior Chamber of Commerce event of 2010, a Property Outlook held at the Sefton Hotel.

The event was hosted by the Isle of Man Junior Chamber of Commerce in partnership with Barclays Wealth and Black Grace Cowley. More than 160 people attended the event to hear specialists give their outlook on the property market for 2010.

Speakers from Black Grace Cowley confirmed that the property market in the Isle of Man remained challenging, although the commercial property market has seen some strong demand for office space and increasing activity in the retail sector.

Stuart Nelson, Head of Corporates for Barclays Wealth said: "We were very interested to hear the market outlook given at the event by Black Grace Cowley. Although terms and pricing of mortgages may be different to two years ago we are still very much 'open for business'.

"The key to successfully arranging finance for a property purchase is to have good, open and honest communication with your lender. Also, should you start to encounter difficulties with existing borrowing, it is vital to engage your banker as early as possible. In 2009 Barclays Wealth lent circa £85million of new personal mortgages and over £100million for corporate facilities and options are still very much available for those buying property in the Island."

For further information contact:

Jignasa Patel, Barclays Wealth, Corporate Communications
+44 (0)20 7699 2483

Shirley Callow, Isle of Man Advertising & PR Limited
+44 (0)1624 620440

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