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Invest Assist Finance  

THE CHALLENGE:

Financing deposits and stage payments required by a developer on ‘Off Plan’ properties.   Normal procedure for buying ‘Off Plan’ property is pay a reservation fee, which usually lasts for 30 days.   In the UK and Irish market, you then pay a 10 or 20% deposit at the end of the reservation period, which is Non-Refundable. It is normally financed through either: The investors own cash. An extension to the Investors current UK Mortgage    ie:  a further advance or equity release through a Re-Mortgage arrangement. A personal loan.

In Dubai, the buyer makes stage payments during the construction period of the property, usually 10 payments of 10% of the purchase price at each agreed payment period.   Downside - a  large cash outlay is paid to a project long before the property is actually completed. A large cash outlay puts a strain on the buyers’ cash flow when buying ‘Off Plan’ purchases.   It is difficult to acquire mortgage funding that meets the requirements of stage payments in these circumstances.   The Invest Assist product solves the problem providing the purchaser with the stage payment funds that are required as and when needed.

The Invest Assist product is tailored specifically for the purchase of ‘Off Plan’ property and can be administered Worldwide.   Through the Invest Assist product, finance can be arranged to cover initial deposits and indeed the stage payment arrangements, where the loan is deferred until build completion of the ‘Off Plan’ property.  At this stage consideration for full mortgage funding can be addressed on the completed property (qualifying areas only) or when the investor sells the property for capital gain, clearing the Invest Assist arrangement used to provide the initial purchase cost.    The Invest Assist product can be used to finance ‘Off Plan’ investments up to €240,000 / £175,000 for a max term of 36 months.

The Invest Assist fees are calculated at 6% of the principle sum of the loan amount, administered every 6 months: first fee payable on the date of signing the Invest Assist loan contract and the next 6% payable 6 months and 1 day from the date of this agreement.   eg: a property selling at £200,000 requiring a 10% deposit:   Invest Assist product would finance deposit of £20,000 Investor would pay £1,200 on the day of signing the Invest Assist (loan) contract 6 months and 1 day later the Investor would pay an additional £1,200 measuring an APR of 12%

The 36 month term may not be required to complete the build of the property, but is a max term allowed with the Invest Assist product. The Investor would then refinance (Mortgage) or flip the investment property paying off the Invest Assist loan before taking or passing title of the property.

Oruc-Finance provide flexible solutions to assist in buying your dream home overseas. Our Investor portfolio also assists a stage payment plan to suit most requirements - call us on 0845 166 4757 for your free financial appraisal or send your email to: finance@oruc-overseasproperty.info 

 Ask about the 'Invest Assist' finance program - Click Here