Property Information
ALL PROPERTIES ONLY £1000 DOWN AND NOTHING TO PAY UNTIL COMPLETION
Prices range from £165,000 - £895,995
Fully Furnished Freehold Properties
£1000 Reservation Fee* with nothing else to pay until completion
30 Days free use per year
2 Year 10% Rental Guarantee followed by 50% net room rate share
* St Vincent is a new tourist destination, mostly visited by day trippers from ocean cruisers. It is beautifully unspoilt and underdeveloped and has huge potential for growth, which has been acknowledged and is supported by the government
* Currently there are only 400 rooms available in hotels on the island, and no hotel above a 3 Star, so there is excellent rental potential for the Buccament Bay Beach Resort
* Sunny weather all year round makes it an ideal holiday destination at any time
* Property prices are currently a quarter of those in Barbados so now is the perfect time for an early investment in this market as prices will rise when the resort opens as the island becomes more popular due to the increase in visitors. The proposed International airport, which will be completed in 2011, will also encourage more visitors to the island
* St Vincent operates a favourable taxation regime for international entities which are not subject to tax under the country’s laws. There is no capital gains tax, no inheritance tax and no tax on dividends. Capital and profits may be freely repatriated up to a limit of US$100,000
Example of 100% finance - making your property work for you
If you own property in the UK or America with positive equity we strongly recommend you use it as leverage to invest in the Caribbean - a growing market. Act now before it disappears in the current housing market downturn...
If you raise a loan to fund the 30% for your deposit, possibly from equity in property already owned, the developer will make the interest payments for this amount on your behalf. See the example below:
30% deposit required (less £1000 reservation fee) 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 and rolled into your mortgage.
Example (Sterling): Property price £200,000. £1000 reservation fee paid. The deposit = £200,000 x 30% = £60,000 - £1000 (reservation fee) = £59,000. Interest on £59,000 @ 6% p.a. = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion.
Example (US Dollar): Property price $370,000. $2000 reservation fee paid. The deposit = $370,000 x 30% = $111,000 - $2000 (reservation fee) = $109,000. Interest on $109,000 @ 6% p.a. = $545 per month, paid for 24 months by the developer = $13,080 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 ($370,000) purchase price will have grown to a property value at completion of circa £325,000 ($601,250)
At this point a 70% loan to value guaranteed mortgage is available and therefore you will be able to borrow up to £227,500 ($420,875). This is clearly ample to pay for the £199,000 ($368,000) (purchase price less £1000 ($2000) reservation fee) that you owe as well as the accrued interest of £7,080 ($13,080) - from the above example.
Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 ($420,875) on which the annual interest payment would be £18,200 ($33,670) based on a rate of 8%. The rental guarantee of 10% of your purchase price of £200,000 ($370,000) will generate you an income of £20,000 ($37,000) each year, should cover your mortgage payments. If you wish you could retain the £59,000 ($109,150) 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.*Subject to status. Terms & conditions apply.