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The credit crunch
around the world is making some people fear
that their dream of owning a home abroad may
be lost forever. People have become
nervous about signing up to a long term
fixed contract mortgage, and the thoughts of
parting with a chunk of savings is also met
with reluctance. However the Turkey
Herald have found a company who have come up
with some innovative financing options which
may bring your dream of a second home in the
sun within reach.
The innovative
scheme they offer is based upon the concept
of a hire-purchase agreement – BUY NOW,
MOVE IN, PAY LATER!
Unbelievable as it
may seem it is exactly as it sounds.
The basic details are that you will pay 30%
deposit on a turnkey property. Once
you have paid your deposit you will receive
your keys to the property You are then free
to use your property entirely as your own.
Provided you pay all instalments over the
agreed term, your Tapu will be applied for
in the normal manner. Until you
receive your Tapu deeds you will retain 3%
of the property price. Once you
receive your Tapu you then pay this as your
final amount and you will receive your
deeds. Even before your deeds are
ready, you can start using your property as
your own from the first payment. You
can even rent it out to help finance your
stage payments . The remaining balance is
then paid over the staggered period of
either 18, 24, 36, 48 or 60 months, at
0% interest!
If you wish to
rent your property to fund your repayments
the company will help you to maximise the
rental potential of your property through
marketing, free of charge for the duration
of your finance scheme. The sale
is bound by the usual contracts and all
legal issues are overseen by a solicitor and
notary, and the buyers interests are well
protected. The reasoning behind
the scheme is explained by Emma Ward,
co-owner and marketing executive of the
company: “With the current downturn in the
economic situation many people are nervous
about buying abroad, particularly if this
means that they need to apply for a mortgage
or use a large portion of their savings.
We want to show people that there are
alternatives to these options. We
believe we are the first company on the
Aegean coast to offer such a flexible
finance option, and to date it has proved
very popular. We have signed several
developers on board with the idea.
In the current
climate people need to be reassured that
overseas property investment is still a
viable option with minimal risk. Our
offer gives this reassurance. By
buying via this finance method, you can get
a property at current market prices but pay
over 18 months to 5 years! Given that
it is currently a buyers market and there
are bargains to be had this finance deal
makes even more sense! Best of all it
is not an ‘off-plan’ scheme – it is
for ready to occupy turnkey properties,
meaning that you can be using your holiday
retreat yourself or renting it our without
any delay!” A typical
example of 'Buy Now, Pay Later'
option:
- Ready-to-occupy
Villa priced at £60,000 on 18 mths
payment schedule
- Pay
30% deposit as initial payment, £18,000.
Sales contract signed.
- 1st
payment due three months after deposit
£7000
- A further
4 payments, at 3 month intervals of £7000
each = £28,000
- Second
to last payment of £5,200 on the 18th
month
- Final
payment of £1,800 (3% of total sales
price) when Tapu received.
Total price paid £60,000, 0%
interest! Move in
immediately - start using your home without
delay! Currently
available ara several properties in the
Altinkum/Akbuk region and also in Alanya
where the BUY NOW, MOVE IN, PAY LATER deal
can be applied. For example, in
Altinkum, offering 4 large duplex
apartments, situated in the popular
neighbourhood of Hunter Valley and within
easy reach of the main areas of Altinkum and
just a 5 min stroll to the Second Beach,
bars, restaurants and local shops .
There are two ground floor and two penthouse
apartments in this development. The
small complex has its own pool and
sunbathing area. Each duplex is
finished to a high standard, and are
particularly well laid out and roomy.
The highest quality materials have been
used, and the properties even come with
air-con ready installed and white goods of
fridge-freezer, oven and hob, kettle and
toaster, iron and electric shower. All
materials used meet government
specifications (T.S.E.) Prices start from £57,000.
The Buy Now, Pay later scheme applies and is
payable over 18mths interest free. In Alanya,
you can avail of the Prestij 7 Residence
luxury apartments in Mahmutlar.
Located just 150 Metres from Mahmutlar’s
Blue Flag Beach, this property is a real
gem. Located in a quiet residential
area, Prestij 7 Residence apartments are
built to the highest quality and are
guaranteed not to disappoint. They are
located close to all amenities including
Bars, Restaurants, Shops, Butchers, Internet
cafe’s and just a stones throw from the
Tuesday Market. The complex has its
own private pool and children’s pool and
also an onsite storage facility. The
block is suitable for disabled residents as
it has a lift. There is also 24 hour
onsite security and controlled access.
Prices start from £46,000 / €58,000.
The Buy Now, Pay later scheme applies and is
payable over 3 years interest free.
Click here
to contact us and register your interest.
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