A Freehold Property in France, Spain, Cyprus etc can be owned by 4 people is a great option as you:
- Have shared mortgage up to 90% of the
property value
- Own 25% of the Property
- Only pay 25% of the deposit
- Only pay 25% of the mortgage
- Only pay 25% of maintenance costs
- Get 25% of increased value of the property
- You have 12 weeks a year to use or rent
Example:
2 bed apartment in Spain with kitchen, bathroom, lounge, patio garden and shred pool etc
Cost £130,000 approx €151,000
An 80% mortgage (£108,000) repaid over 15 years £500 pr month approx
Your Share;
£ 125 per month
Your share of the deposit £7,000
Shared legal costs
Benefits;
By renting 6 weeks at £250 per week or 3 weeks at £500, your whole year costs are covered leaving 6 or 9 weeks free!
Changes in the exchange rate may increase the sterling equivalent of your debt.
M&S Mortgage Solutions acts as an introducer for for overseas mortgage busines.
We may charge a fee of 1-2 % of the advance that will depend on your personal circumstances. A typical fee would be 0.5 % for example a loan of £200,000 would attract a fee of £1000. Ask for a personalized illustration.
The Financial Services Authority does not regulate some forms of buy to lets, commercial loans, secured loans, bridging finance or overseas mortgages.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. M&S Mortgage Solutions Ltd is an Appointed Representative of BDS Mortgage Group which is authorised and regulated by the Financial Services Authority for mortgages and Non-Investment Insurance FSA number 301646
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. |
