Purchase Options

Viewing Trip and Pre-contract
The first step once having decided upon a property within the resort is to reserve it in your name. A sum of £1,000 secures your property for 30 days, in which time you will be sent a personalised contract for you to peruse. If, within 30 days of reserving you decide not to proceed, we will fully refund your reservation fee. During this time we highly recommend one of our bespoke viewing trips.

Post-contract
Having read, signed and returned the contract to us, your first payment of 10% is due within 30 days of
the contract issue date. The second payment is 20% of the purchase price and is due 30 days after the first payment. You therefore have 60 days from the contract date to pay the full 30% deposit, spread out over 2 payments. Nothing else is then due until the resort is completed and you make the final 70% payment.

Completion
Upon completion of your apartment or villa, the property will be thoroughly checked to make sure everything is finished to the highest standard. Together with a representative of the developer, an inspection will be carried out to check that you are entirely happy with your purchase. Completion prices in this document are conservative estimates based on comparable resorts.

Ownership
Due to Greek legislation, the properties are offered on a full sixty year lease with unrestricted use. Current Greek contract legislation states that after five years the properties can be offered on a full freehold basis and the contract with the developer states that at this time, the properties will be transferred to the owner.

The contracts also state that should for any reason a property not be transferred to full freehold ownership, then the leasehold agreement will be extended in perpetuity

Finance Options

There are various finance options available to you and one of the easiest methods of these is to reserve your property today with just £1,000 and pay nothing more until 2011. The developer pays towards the interest payments on your deposit and the balance of 70% isn’t due until completion!

Alternatively, you can buy with just a 15% deposit and nothing more to pay for a minimum of twelve months.

The payment structure at Halcyon Hills is very straightforward and you can choose between two purchase options, as described on the table below.

Before Completion
Many investors have funds tied up in property elsewhere. If you decide to release this equity with Option 2 and invest in Halcyon Hills, then the developer will pay your interest payments until completion. So with just a £1,000 reservation fee, you can secure a five star luxury property available at
under the market value with minimal financial outlay and maximum capital gain. We will be delighted to put you in touch with an independent financial advisor who can talk you through the options available to you.

After Completion
The remaining 70% isn’t due until completion; by which time your property has increased in value in-line with the market predictions and market valuations. Your property is now worth substantially more than when you first borrowed on its value. This means, there is now ample equity in your property from which you can mortgage and easily settle your finance.

When you come to mortgage your property after completion, the two year 8% guaranteed rental return and anticipated 14% rental return thereafter substantially assist your repayments. For an individual breakdown of how you can buy now and pay nothing until 2011; contact us today and our professional advisors will be happy to talk you through the process.

The developer will pay cashback on client UK sourced finance secured for the first 30%. Cashback payments will be paid from receipt of the first 30% for a maximum of three years or until property completion (whichever is soonest).

Greek Bank Finance
There are numerous banks who offer mortgages on Greek properties. Below we have selected one of the most reputable who have UK offices. However, customers are free to make enquiries with any Greek lender if they so desire. The Piraeus Bank www.piraeusbank.co.uk was founded in 1916. The bank now has 574 branches worldwide, 304 in Greece and 270 internationally including London. The banks total assets are currently approximately 37 billion Euros. The Piraeus bank already offers finance
to UK citizens for the purchase of Greek properties. Listed to the right is a summary of their usual lending terms.

UK Finance
In almost all circumstances, it is quicker, easier and more cost-effective to raise finance within the UK than obtain overseas mortgages. UK finance can be achieved through a variety of means from unsecured loans to raising finance by releasing equity from a UK property. We are not qualified to give advice on this subject and recommend that anyone considering raising finance obtains advice from a registered independent financial advisor. Should you not have an advisor, please contact us and we
will be delighted to recommend a selection of possible advisors. * Your property is at risk if you do not keep up repayments or loans secured on it.