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Name Your Deposit, Name Your Term at Turkey’s Horizon Sky |
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Calle Carretera
29610 Ojen Edif El Molino Malaga Spain Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Contact Person: Sarah Drane Phone: 0034607564726 Name Your Deposit, Name Your Term at Turkey’s Horizon Sky This bold statement comes from the developers of Turkey’s most sophisticated resort – Horizon Sky. The customer can name their deposit, name their preferred term (from five to ten years) and Horizon Sky will adapt a plan to suit. One even borrows a tactic from the car industry in the shape of a ‘balloon payment’ – is this a glimpse into the future for overseas property? Daniel Dias for developer Signature International comments, “We’re conscious of the challenges posed by the current financial climate and try to eliminate any worries clients may have over buying at Horizon Sky. Payment terms tend to emerge as a ongoing concern so we’ve decided to throw the ball back in the buyers’ court and ask them to tell us how they want to pay. Some are cash-rich and want to pay a large upfront deposit, others prefer to spread the load as thinly as possible. The ‘balloon payment’ will appeal to those who envisage selling or re-financing at the end of the term. In every individual case, we should have it covered.” Horizon Sky’s non-status payment plans are particularly interesting as they demonstrate the developer’s unwavering commitment to the Bodrum resort as it’s their risk, not bank risk. Signature International is solvent and willing to stand by Horizon Sky for the long-term – through construction phases and beyond. If a buyer fails to keep up the monthly installments then they risk losing their property, but the developer has every confidence that their quality product is a viable long-term investment so are happy for the property to act as security. At Horizon Sky there are an infinite number of plans available dependent on the deposit paid. Interest rates vary between 0% for the five year plan through to 4.9% for the ten year plan, both available with a deposit from zero upwards. Clients shouldn’t baulk at the 4.9% as the alternative, arranging a mortgage in Turkey, is both complicated and expensive with interest rates currently higher than 7% if the loan is fixed in sterling. Similarly, flick through any newspaper Money section and you’ll see that even the best first-time-buyer product in the UK will not be without deposit (max. 95% LTV) and certainly not carry an interest rate lower than 5%. Keys in hand, for the most affordable Phase Three apartment of £89,891 (a two bedroom duplex apartment with a generous 87m² internal space) monthly payments are sub £1,500 GBP for a zero deposit zero interest five-year term. A £20,000 GBP deposit would bring that down to a little over £600 GBP per month based on a 45% final balloon payment. The choice really, is yours. |
| Date added: 2010-02-25 10:22:47 Hits: 6 |
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