property
The benefit of buying one of these prestigious homes is that they have the full use of the facilities of the 5 star Merricks Hotel and Spa, which includes swimming pools, tennis courts, etc., ideally located with its own beach and cliff top location in the stunning south east area of Barbados with only a 15 minute car journey to the International Airport.There are many flights daily from all over the UK, which include British Airways and Virgin from Gatwick, BMI from Manchester, as well as now many charter flight companies.This is a fantastic opportunity for you to own a luxury apartment or villa in the Caribbean.We are pleased to confirm that mortgages are available in the Caribbean up to 70% LTV, subject to status.Type A £295,000Type B £350,000Type C £425,000Type D £495,000Type E £595,000Type F £795,000We are creating a beautiful, tropical setting with water features and the planting of many palm trees, banana plants and many sub tropical flora which will create a wonderful, relaxing setting with walkways between the water features with car parking on the edges to create an idyllic setting.We will also be putting together a stunning furniture pack which will blend in with the surroundings and the atmosphere of what we are going to create (there will be an additional cost for the furniture pack). Anyone buying one of these Cabanas will have the full facilities of the Merricks Hotel and Spa.CARIBBEAN 100% FINANCE SCHEME** Only £1,000 required until completion**Guaranteed mortgage upon completion**This is an excellent opportunity to invest in a brand new property with only £1,000 required. See the example process below:· £1,000 non-refundable reservation fee required for reservation of a specific property.· 30% deposit required (less £1,000) within 45 days of reservation. Should you choose to borrow the 30% deposit, the developer will pay the loan repayments, including interest, for the 30% deposit until completion of the specific unit you have reserved. These payments will then be added 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%pa = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion.Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the £200,000 purchase price will have grown to a property value at completion of circa £325,000.At this point a 70% loan to value guaranteed mortgage is available and therefore you will be able to borrow up to £227,500. This is clearly ample to pay for the £199,000 (purchase price less £1,000 reservation fee) that you owe as well as the accrued interest of £7,080 (from the above example).Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 on which the annual interest payment would be £18,200 based on a rate of 8%. The rental guarantee of 10% of your purchase price of £200,000 will generate you an income of £20,000 per year, should cover your mortgage payments.If you wish you could retain the £59,000 loan you took out for the deposit, pay the interest yourself each month, from completion onwards, and use the money to invest in a further investment property purchase.We would be delighted to answer any further questions you have regarding the exciting opportunity as well as helping you to make your reservation in the Caribbean.· Subject to status and conditions apply - please contact us for further information· If cases where we are unable to obtain finance for you, we will be prepared to refund the £1,000 reservation fee