Best Leaseback Mortgage Options
|
6 options to choose from for your leaseback mortgage.
Option 1 - For all resorts - 90% Mortgage for a leaseback on which VAT is payable, capped and fixed rates available up to 25 years. Low margins.
Option 2 - For selected resorts - 80% of vat price plus notary fees so 99% of price if developer is paying vat. Interest only over 20 years fixed for 5 years at 5.6%
Option 3 - Interest only for all resorts 80% of VAT inclusive price - where VAT is paid by the developer this means up to 95%
Option 4 - For selected resorts 70% of VAT inclusive price at low margins up to 25 years, but you must use the recovered VAT to reduce the loan
Option 1 - For all resorts – 90% mortgage for a leaseback on which VAT is payable, capped and fixed rates available up to 25 years.
- Current variable rate 5,36% year one then 12 euridor + 1%, capped for 20 years at 6,36% For 25 years rates are 5,41% capped at 6,41%
- Fixed rates 15 yrs 5.29%, 20 years 5.39%, 25 years 5.45%
- Interest only for up to 2 years during construction
- No early repayment at all on variable capped rate
- No early repayment after 10 years on fixed rate loans
- No bank set-up fee.
>>>APPLY
Option 2 - For selected resorts 80% of vat price plus notary fees so 99% of price if developer is paying vat. Interest only over 20 years.
- Current rates 5,45% fixed for 2 years, 5,6% for 5 years or 5,7%
fixed for 10 years
- No early repayment penalty once the fixed period is over
- Set up fee 1% capped at 1,500 euros
- You must have net assets equal to 150% of the loan amount (120% if
loan is over €300,000)
>>>APPLY
Option 3 – Interest only for all resorts 80% of vat inclusive price – where vat is paid by the developer this means up to 95%.
- 80% of price including VAT.
- Ten years interest only 5,1% for six months then variable at a margin of 1,6% above six months euribor capped at 6,6%
or 6 months at 5% then margin of 1,5% capped at 7%
- Fifteen years interest only 5,2% for six months then variable 1,7%
over six months euribor capped at 6,7%
- Early repayment penalty 3% but vat refunded may be paid off without
penalty in first three years. No penalty after 9 years.
>>>APPLY
Option 4 – 70% of VAT inclusive price, selected resorts (homeowners only)
- low margins.
- 70% of price including VAT,
4.6%
fixed
for three years then 1.4%
above three months euribor.
- Set up fee 1% up to €950
- Early repayment penalty is 2.2% of amount pre-paid. No penalty after 5 years.
- 100% of VAT to be repaid to bank upon receipt from government. At this point your income is more or less equal to your monthly loan payment.
- For homeowners buying in resorts approved in advance by the lender only.
>>>APPLY
*Euribor = Euro Interbank Offered Rate (this is the "base rate" for the Euro); the rate at which euro interbank term deposits within the euro zone are offered by one prime bank to another prime bank.
|
|
|
|
NOTE: Your home is at risk if you do not keep up the repayment on a mortgage loan or other loan secured on it. The sterling equivalent of your liability under a foreign currency mortgage may be increased by exchange rate movements.
|
|
^ top
|
Copyright © 2004-2008 French Mortgage | all rights reserved |
|