Own 100% of your new home Only pay 85% of the price now! NORTHLAND DEVELOPMENTS SALES OFFICE 1 Stonebridge Avenue, Conlig Newtownards, Co. Down, BT23 7QL
Tel: 028 9147 9277 Email:
[email protected] www.northlanddevelopments.co.uk
Northland Devlopments comply with the requirements of the Consumer Code For Home Builders www.consumercodeforbuilders.com
Offer is only available on selected turnkey homes for a limited period.
PAY JUST 85% NOW AND MOVE STRAIGHT IN! How does the Northland’s “Wise Move” Scheme work? Mortgage finance is arranged on 85% of the purchase price by the customer. The deferred amount is paid back as 15% of the property’s open market value at any time up to resale or within 10 years, whichever is sooner. You pay NO INTEREST for the first five years, for the second five years there is a low interest rate fixed at 5% typical APR on the original sum covered by Northland Developments. (ie 15% of the purchase price or outstanding share at the time.) You pay NO RENT. Your Home is 100% yours from day one – this is not shared ownership.
When do I have to repay the 15% balance? The 15% is repayable when you sell or transfer your home, or within 10 years, whichever is sooner.
Can I repay the 15% early without selling? Yes, you can either repay in part or in full at any time, subject to valuation.
Are any other costs involved? Solicitor’s fees and valuation fees will be payable by you on full or part repayment of the 15% balance.
How is the market value of the property determined?
All purchases are subject to status and Northland Developments terms & conditions. Exchange of contracts must take place within 6 weeks and legal completion by a specified date. Written details available on request.
The average of two independent valuations will be taken at point of resale, transfer, earlier repayment or at the end of the 10 year period.
Northland Developments cannot give any financial advice.
What happens if I improve my property? Do I have to pass 15% of the increased value to Northland Developments?
BUT YOU'LL NEED TO HURRY THIS IS A LIMITED PERIOD OFFER!
No – the market value at the end of the period is less any improvements. NORTHLAND DEVELOPMENTS SALES OFFICE
FOR EXAMPLE: House Purchase Price Deferred Payment 15% Mortgage Required 85% (Inc 5% Down Payment of £5,738)
£135,000 £20,250 £114,750
What happens if I cannot repay the 15% after 10 years? In circumstances of genuine hardship, the position will be reviewed and the loan period may be extended up to a maximum of a further five years.
How do I apply? You need to inform your Northland’s Sales Advisor who will refer you to a Mortgage Advisor.
1 Stonebridge Avenue, Conlig Newtownards, Co. Down, BT23 7QL
Tel: 028 9147 9277 Email:
[email protected] www.northlanddevelopments.co.uk Northland Devlopments comply with the requirements of the Consumer Code For Home Builders www.consumercodeforbuilders.com
