Deutsche Bank Responds To Growing Demand For Finance From Channel Island Trusts Firms

by Amanda Banks, Tax-News.com, London

16 August 2007

Deutsche Bank has announced the formation of a strategic partnership with UK specialist independent mortgage consultants Charles Cameron and Associates, in response to a rising demand from Channel Island trust companies for specialist high value property finance.

Through the joint initiative, Deutsche Bank’s Intermediary and Institutional team and Charles Cameron will offer independent consultancy services, and develop tailored mortgage solutions for the Bank’s intermediary clients.

Deutsche Bank revealed that it has seen a recent upsurge in demand for complex property funding amongst its intermediary client base. Whilst the Bank has historically assisted with multi-million pound property transactions through its investment bank, it has previously generally not provided mortgages on residential property. The new partnership is geared specifically towards offering intermediaries a comprehensive property finance service through trust structures and investment vehicles.

Charles Cameron & Associates, which is completely independent from any lender, specialises in offshore mortgages through company and trust structures and overseas mortgages, including in European, Caribbean and American markets. They also offer a bespoke service in assisting with purchasing overseas property, including arranging currency loans and re-mortgages.

Mark Osment, Director, Intermediary and Institutional, Deutsche Bank International, observed that: “This partnership is excellent news for Deutsche Bank and for our intermediary clients who will undoubtedly benefit from this new service. We are increasingly hearing from Trust companies in the Channel Islands that they require assistance with complex and unique property transactions. With our in-house expertise and the specialist experience of Charles Cameron, we will be able to offer a dedicated, flexible service that will tailor property finance to meet our clients' requirements. This partnership forms a very important part of Deutsche Bank’s objective of offering financial intermediaries a comprehensive and holistic service.”

Geoff Garrett, Director, Charles Cameron and Associates, added: “We at Charles Cameron are delighted to have formed a strong alliance with Deutsche Bank in Jersey and Guernsey to promote our mortgage broking proposition. There is a natural synergy between the two firms as we provide a specific service in an area not previously covered by Deutsche Bank. I believe that this partnership will prove to be mutually beneficial as so much of our business is transacted with the same client groups and we will be able to promote each other’s strengths to a wider audience.”

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