2 December 2009
People looking to buy a property in Turkey can now secure a home in Bodrum with the advantage of a 20-year non-status interest-free payment plan from just £208 per month.
The affordable deal is being offered by UK property developer Signature International on its Horizon Sky new home build scheme. The special payment plan has been introduced in response to the lack of mortgage funding available to foreigners seeking to buy a home in Turkey.
Daniel Dias of Signature International comments: “Despite gradual progress, mortgages are still very difficult to obtain in Turkey. Interest rates are high, terms restrictive, arrangement fees around 1.5% to 2% and some lenders even charge hundreds of pounds in upfront fees before they’ve approved your loan. This has left many buyers of Turkish property with no option but to take equity out of their main residence in the UK or risk losing their deposit. Our non-status interest-free payment plan immediately eliminates any worries the client may have over buying at Horizon Sky.”
Dias says that that Signature International feels comfortable offering this new payment plan because they have faith in the “long-term investment” of the project.
“As a developer we are solvent and stable and are not only willing to stand by Horizon Sky for the few years of construction but also for the long-term,” Dias adds.
Horizon Sky has several payment plans on offer. The most popular is the 20-year interest-free plan which can be accessed after a £1,000 reservation fee and a 35% deposit in staggered payments over the build period – around 18 months.
Prices start from £76,800.
See Also: Marc Da-Silva (269), Turkey (12), Signature International (1), Horizon Sky (1), Bodrum (2)
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