Isle of Man Secured Lending documentation

To progress with your loan application, there will be a set of documents that we will send you. To ensure a smooth and timely processing of your loan, we ask you to review, sign, and return the documents.

The information below is here to guide you and describe the purpose of each document and how you must correctly execute them.

Should you have any questions or require assistance in completing the documents, please contact your Relationship Director.

Facility Letter

The Facility Letter outlines the terms and conditions of your loan, and the details of our offer including:

• loan amount
• interest rate
• minimum utilisation details
• repayment schedule
• security details

You must accept the offer by signing and returning within one calendar month from the date of the letter. You need to sign where indicated and also must complete and sign the Utilisation Request in Schedule 2 of the letter.

Isle of Man Security Agreement

The Security Agreement details the bank accounts pledged as security for the loan and establishes the bank’s legal interest in the security.

You must sign this Agreement in the presence of a witness.

Jersey Security Interest Agreement

The Security Interest Agreement details the contractual rights and investment portfolio assets pledged as security for the loan and establishes the bank’s legal interest in the security.

Even though your loan is offered by Santander International, Isle of Man Branch, we require you to enter into a Jersey Security Interest Agreement because your investment assets are custodied with Pershing (Channel Islands) Limited who are a Jersey domiciled entity. Under Isle of Man Securities Law, we are unable to take security over non-Isle of Man domiciled assets by way of an Isle of Man Security Agreement.

You must sign Schedule 2, a Security Notice which will be issued by ourselves to Pershing (Channel Islands) Limited to ensure they are aware of the creation of the Security Interest Agreement, and you must sign this Agreement in the presence of a witness (last page of the document).

Grantor Consent Letter

This letter provides your consent to register the Bank’s interest in the Security on the online Jersey Security Interests Register and for your details in Schedule 1 of the Letter to be appended to the Register.

You must sign where indicated and provide your details in Schedule 1.

Secured Lending Customer Declaration

You must read this document and sign the declaration in order for your loan to be available for utilisation. It details some important implications and considerations that you need to be aware of before entering into the loan.

If there is anything in the document you do not fully understand, please speak to your Relationship Director before signing the document or seek independent advice.

Statement of High Net Worth (only to be completed if you are a UK resident)

You will only receive this document for completion if you are a UK resident.

If applicable to you, you must provide this document to your Accountant to complete, sign and return to you.

It acts as your accountant’s confirmation that you meet the income or asset thresholds to qualify as a person of high net worth, such that the Bank can rely on the High Net Worth Individual exemption to the relevant UK consumer credit regulations, under Rules made by the Financial Conduct Authority.

Direct Debit Mandate

By signing the Direct Debit Mandate document, you are authorising the bank to collect loan repayments directly from your relevant bank account.

Santander International is the trading name of Santander Financial Services plc, Isle of Man Branch. 

Santander Financial Services plc is incorporated in England and Wales with number 2338548 and its registered office is 2 Triton Square, Regent’s Place, London NW1 3AN, United Kingdom. Santander Financial Services plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Santander Financial Services plc’s Financial Services Register number is 146003. Santander Financial Services plc, Isle of Man Branch has its principal place of business at 19 - 21 Prospect Hill, Douglas, Isle of Man, IM1 1ET and is regulated by the Isle of Man Financial Services Authority. www.santanderinternational.co.uk

Santander and the flame logo are registered trademarks. Calls to Santander International are recorded and may be monitored for security and training purposes.