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.
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
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
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