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Caribbean Property
After paying your £1,000 reservation fee, this can be the last payment you pay. You can either make your own arrangements to fund the 30% deposit or we can assist you. For example, if you buy a property to the value of £300,000 we will be looking for approximately £100,000, so if you borrow this from a bank - let's say this figure is a £500 monthly repayment - we will pay this amount on your behalf so you do not have to find this monthly outlay. We are now setting up mortgages on your behalf for the developments in the Caribbean. As the work progresses on your property, the bank will pay the stage payments on your behalf so again, even through the building process, you will not be required to find these payments. As you can see, from placing the order until the completion you only need to find the £1,000 reservation fee. The reason we are able to do this is because you are buying off plan and as such making huge savings in the value of the property when it is completed. We expect there to be around a 50% increase in the value of the property from the day you buy to completion. What happens is the stage payments and interest incurred during this period is added to the price of the property that you buy. When the property is completed, the mortgage is given at the value at the time of completion and because this figure is higher than the price you have paid for the property, there will be a surplus of funding available to you which you can then use if you so wish to either pay off the loan that you or we have arranged for you for the 30%, or you may wish to use these funds to purchase further properties. Because we are offering you a 10% rental guarantee, this means that these payments will cover the payment of your mortgage so even once you have received the keys of your property you still do not have to find the mortgage payment as it should be covered by your 10% rental guarantee. Las Canas - Dominican Republic - click here for details |
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