Spain - Guaranteed income of 5% for 10 years. Ref: N01303  / N01304 / N01305 / N01306 / N01307 / N01308 prices from: € 196,198 Guaranteed rental income 5 % of purchase price with variable term options for up to 30 years available. There is also a 100% finance option. 1,2&3 Bedroom properties.

Payment plan

Reservation / Deposit: €3,000 - Required Immediately to reserve unit and secure price

Contract: 10% is required at the Contract signing stage (less initial €3000 + 7% IVA)

Stage Payment: 20% is required after year one of construction

Completion: The remainder is required on completion.

This is 70% via a standard mortgage (Subject to Status)

This price is also subject to 7% IVA as with any Spanish property purchase.

Medina Golf payment terms can vary per unit, please ask for confirmation for payment terms on specific unit types and numbers.

Description

Come and live at this lovely development, near Granada in southern Spain. It is located in the best area of the Granada region. Breathe in the nature, the tradition and the golf. Only ten minutes from the city centre, thirty minutes from the Sierra Nevada, ten minutes from the international airport and less than an hour from the beaches of the Costa Tropical. A privileged location in Andalucia.

Services: International bi-lingual school, hotel, horse-riding club, shopping centre, leisure centre and restaurants. A development designed to make your life more comfortable.

Sierra Nevada: The best skiing and snowboarding in rugged and beautiful mountain terrain. Snow cannons ensure perfect conditions and slopes for all level of skier. Great ‘apres-ski’ and summer trekking and mountain biking with a rich variety of flora and fauna for company.

Facilities:
*Underground parking
*Storage-room
*Automatic garage doors
*Security entrance door
*Double glazed insulated windows
*Marble flooring
*Air conditioning pre-installation
*Quality light fittings & power sockets
*Sat TV and ADSL
*Hall lighting trigged by presence detectors
*Fully fitted kitchen
*PROSEGUR security system installed
*Central heating system
*Built in wardrobes
*Aluminium shutters in bedrooms
*Wheelchair friendly
*2 large swimming-pools
*Fully equipped gymnasium
*Jacuzzi hot-tub
*Landscaped garden
*Gated community

For more information or to reserve this property: Contact Us

20/11/06
Guaranteed and Variable Rental schemes available.

There are two schemes available for those wishing to rent out their property at any of the complexes.

Firstly their is the guaranteedrental scheme with a yield of 5% of the purchase price of the property which is index linked. The contract lengths are 2, 3, 5, or 10 years renewable twice, so potentially you could have 30 years guaranteed rental on a property. With this scheme you will not be able to use the property because potentially it could be rented out 52 weeks a year.

The variable scheme has the opportunity of providing you with a much higher return, however, it is not guaranteed. If you look at the figures in the ‘Property Management & Rental Services’ document (in our downloads section) you will see the company are projecting between 10-15% returns. The figures are based on the previous two years rentals in Granada 2003-2005 and are projected to increase by 2008/9 when the development is complete. Again the contract lengths for this scheme are 2, 3, 5 or 10 years renewable twice. With this option you can use your property; you will be given access to a database for your apartment and thus have the ability to block of various weeks a year for your personal use. If you wished to sell your apartment before a ‘rental contract’ has ended you would either have to sell the apartment with the contract attached or come to some agreement with the management office on-site to see if anyone is waiting to change onto either of the rentals schemes. Once your contract period has ended you can change to either the variable or the guaranteed scheme, you are not fixed to continue with the same type of contract. AGS has personally been recommending clients to take out a ‘guaranteed’ contract for 2 years. Then review the figures for the variable and change over schemes once the development is established.

Dated 20/11/06
Off-Plan Mortgage Schemes.

The Development resort provides the buyer and investor alike an unprecedented
opportunity in Spain to purchase property within the resort on the various
complexes without any necessary ‘liquid’ capital. Now for the first time we are
able to offer you a 100% off-plan mortgage facility on this great resort with
an ‘equity release scheme’ for owners of an existing Spanish Property or UK
property with enough equity for the loan amount required. How an off-plan mortgage works on this development. Purchasers are able to borrow immediately between 20-30% of the purchase price of the property. Interest’s rates vary dependant on whether you borrow against a UK property or Spanish property (please contact us to find out the current interest rates at the time of purchase) 10% deposit is required by the developer immediately the other 15-20% will not be required for 10 months
after your initial deposit of 10%. This will be taken as an ‘interest only’ loan,
therefore you will only be paying interest on the initial 10% for the first 10
months and then the second payment (15-20%) will be added so the repayments will increase to take into consideration the further 15-20% also on an interest only basis.

Their will be a 70-80% LTV (Loan to Value) available upon completion
(scheduled for October 2008) at this point the property will be re-valued so you will in effect will be achieving almost 110% mortgage which will also cover the purchase costs. If the valuation comes in lower than expected you will have enough funds to complete on the property in Spain and the bank will allow you to continue the initial loan of 20-30% over the course of 25 years. Therefore in effect you could have 2 loans running at the same time so as to avoid non-completion of your property. The mortgage upon completion can be either interest only or capital repayment,this is something you can decide.