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Off-Plan Mortgages for Off-Plan Sambala Properties |
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| Amount | 50% of Property Price (increased % subject to status) |
| Rate | Variable - Euribor 6 months + 1.5% to 3.5% (currently from 6.55% to 8.75% - rate subject to status) |
| Term | 10 to 15 years (flexible subject to status) |
| Repayment | 'Interest Only' during Construction Post Handover - Interest and Capital Repayment (monthly repayment) |
| Bank Arrangement Fee | 1% of Mortgage Value |
| Early Redemption Penalty | 2% of Early Re-Paid Amount |
| Funding Draw Down | In accordance with the buyer's requirement and stage payments set out in the Promissory Contract. |
| Deposit Payment | Maximum 50% of Stage 1: Promissory (e.g. 15% of Property price) |
| Collateral | During construction against the Promissory Contract. After handover, by a first charge over the property and insurance in favour of the Lender (other security or collateral maybe required for improved interest rates and loan to value percentages - subject to status) |
| Supporting Documentation Required | Copy of Promissory Contract, Proof of Deposit Payment, Bank References, Proof of Income, Proof of Address and open account at BCA |
For Further information, or to register your interest please contact Joaquim Alves at Sambala Investimentos on 00238 264 8000, or email - joaquim.alves@sambalainvestimentos.com
