Whether its the glitzy roster of famous guests, devastating fires, floods or the latest challenge being forced to refinance in the face of a pandemic, for a private island Richard Bransons Necker is never too far from the headlines.

The Virgin billionaire is now seeking a 500m commercial loan from the government to save his ailing airline from becoming a Corona casualty and hes offering his family retreat in the British Virgin Islands as collateral.

Quite what the British government would do with a Caribbean island, should Branson default on his loan, is anyones guess (although Boris does enjoy his holidays in the region). And some local agents there feel it may be more of a shrewd PR move on Bransons part than a genuine financial negotiation.

Perhaps its better to deflect the public criticism given the perception of wealth and living on a private island by offering the island as collateral, whether achievable or not, says one who wishes to remain anonymous.

Rare as it is to seek finance for a private island most are bought with cash the ultra-rich get quite creative when it comes to attaching value to non-financial assets,adds Edward de Mallet Morgan, Knight Franks international super-prime expert. If they want to buy a property for $10m, they may offer $7m plus their $3m boat, or they may throw their house in Paris into the deal.

Although Necker, said to be worth around 80m, is not for sale, there are plenty of private islands in the Caribbean to tempt wealthy buyers. And theres plenty of pent-up demand too.

People are lined up now to look at private islands as soon as the lockdowns are lifted. Theyre thinking if we get another pandemic, where can we go? says John Christie from HG Christie in the Bahamas.

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What Richard Branson mortgaging Necker Island really means - Telegraph.co.uk