Studio Apartment Property, For Sale Saint Vincent and The Grenadines - Caribbean

Property Description

Studio Apartment Property. For Sale Saint Vincent and Grenadines - Caribbean. Offering the perfect relaxing setting.

The only 5 star resort on the beautiful island of St Vincent. Offering state-of-the-art facilities including the Harlequin Sports Academy, this family-oriented luxury spa resort will be managed and maintained to the highest standard by a world-class management company.

With its white sandy beach and crystal clear waters that are ideal for snorkelling and diving, Buccament Bay Beach Resort provides the perfect destination for tourists who are seeking a holiday that combines relaxation with the option for sporting activities and we expect a huge demand for accommodation.

A stunningly beautiful tropical island that will become an idyllic Caribbean holiday destination. This, coupled with the fact that the natural topography of the island means it will never be over-developed, makes investment in the Buccament Bay Beach Resort an excellent opportunity

Prices start from 120,000 for a ground floor studio

100% Finance available on these properties as follows:

The 100% finance scheme works as follows:

Example based on £200,000 property

Reservation deposit £1,000

30% After 45 days £60,000   Note 1 below   

70% Guaranteed mortgage £ 227,500  Note 2 below  

2 Years guaranteed rental  £40, 000  Note 3 below   

50% Rental share thereafter £59,000 pa. Note 4 below  

Estimated mortgage cost £18,000 pa Note 2 below  

How it works

A £1,000 non-refundable fee is only needed for the reservation of a specific property.

Note 1 An additional 30% deposit is then required (less £1,000)within 45 days of reservation. Should you choose to borrow the 30%deposit; the developer will pay the loan repayments, includinginterest, for this deposit until completion of the specific unit youhave reserved. The interest element of these payments will then beadded to the purchase price upon completion. (Example, Property price£200,000. £1,000 reservation fee paid. The deposit = £200,000 x 30% =£60,000 - £1,000 (reservation fee) = £59,000. Interest on £59,000 @ 6%p.a. = £295 per month, paid for 24 months by the developer = £7,200added to the purchase price upon completion).

Due to the significantly discounted off-plan price and the likelycapital appreciation during construction, it is anticipated that the£200,000 purchase price will have grown in value, on completion, tocirca £325,000

Note 2 At this point a guaranteed 70% loan to value mortgage isavailable and you will, therefore, be able to borrow up to £227,500against the £325,000 valuation.  This is ample to repay the outstanding£140,000 (the purchase price less £60,000 deposit paid) as well as theaccrued interest of £7,200 and to repay any loans used to finance the£60,000 deposit.

Assuming you borrowed the maximum loan to value i.e. £227,500 the annual interest would be £18,200 based on a rate of 8%.

Note 3 The rental guarantee of 10% (payable in the first 2 yearsfollowing completion), based on the purchase price of £200,000 willgenerate an income of £20,000 p.a., which is sufficient to cover yourloan interest charges.

Note 4 Alternatively you could retain the £59,000 loan taken out forthe original deposit, pay the interest yourself each month, fromcompletion onwards, and use it to invest in a further investmentproperty purchase.

You are free to sell your property at any time, although you arelikely to receive an optimum price once your unit has been built andyou are in receipt of a guaranteed income stream.

Any recipient of this document who is in any doubt about theinvestment to which this document relates should consult an authorisedperson specialising in investments of this kind.

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