- Mortgage Free Payment Plan
- Just 8 Units Available
- Regeneration Area
- Off-Plan, New-Build
- 8% Yield
A contemporary selection of 70 x 1 and 2 bedroom apartments, located in the Illingworth area of Halifax, with the town centre just a 10-minute drive away.
Mortgage Free Payment Plan
Pay 5% reservation deposit, which is deducted from the purchase price, plus £850 legal fees.
The remaining 65% deposit is paid monthly for the duration remaining, until the development is built.
Once 70% has been paid, you are deemed to be the legal owner of the property and the 30% balance is paid by your tenants. Once 100% paid, all rental payments are directly paid to you.
This option is perfectly suited for clients;
• Without large lump sums accessible
• Prefer to keep existing investments where they are
• To use the property as a pension or savings plan
• No debt or mortgage
• Don’t qualify for a mortgage
• Have adverse credit history
• Pay the deposit from savings and/or earnings
• Overseas residents wanting UK property ownership which in turns builds a UK financial footprint enabling a UK bank account to be opened and creating a UK credit history
Once fully owned, you can remortgage based on the expected higher value to release equity to use as a deposit for other property purchases.
Once you are a property owner, your mortgage options become much more accessible and widely available.
All properties open to this kind of scheme can also be traditionally bought by way of a mortgage if you so wish. However, you can still pay monthly the 30% deposit over the build term after payment of the initial 5% reservation deposit. When the development is complete you can apply for a 65% LTV BTL mortgage which we can help with, if need be. Alternatively, you can pay the outstanding 65% as cash.
£66,995 - 1 bed starting price
£76,995 - 2 bed starting price
Completion: Q2 2021
Apartment Sizes: 59m2 - 72m2
Service Charge: 1 bed £900 (estimated) / 2 bed £1,100 (estimated)
Ground Rent: £250 per annum (estimated)
Lease Terms: 125 years
Warranty: Provided by either NHBC, Zurich Municipal, Premier Guarantee, LABC or Build Zone