The buying options
You may simply choose to buy your choice of apartment/s, pay the low deposit and do your own thing. That is perfectly fine. In that case the illustration is simple.
Example
Your selection was a studio at the current rate of £32,900
Down payment of 25% = £8,225
No further payments until completion December 2019 when the balance of £24,675 is payable. By that date the market value of your studio is projected to be about £39,480 due to the price escalation process from the discounted starting point.
A 15 year mortgage can be approved at currently 7% interest.
Balance for finance this example is £24,675
Monthly re-payments = £221.79
If you opt to take the 2 year guaranteed rental, the mortgage is covered as the mortgage is 7% and the guaranteed rental is 7.5%. There may be a small amount of annual maintenance to pay. With this option, nothing will be due until December 2021,
If you would like any example based on different apartment options please contact us.
Contact us to register your interest without delay.
Other options include the furniture package which depends upon your choice of apartment but we strongly recommend that you take this up as the quality is top class and the prices very reasonable.
OTHER COSTS INVOLVED IN THE PURCHASE
All new properties are subject to 5% vat and 3% transfer at the end of the payment programme.
Solicitors fees are £1,400
Stamp Duty is 0.5%
Electric and water connection £2,000 per apartment.
Mortgage arrangement fee of 2% of the property price.
Contact us to register your interest without obligation quoting HP1526 to receive any updates or additional information or to give us your preferences. We are here to help.
