Words: Ashley Rigg
Published: 3rd December 2009
Developer boosts enquiries with innovative new payment plan
British developer Signature International has attracted more than 100 enquiries for its Horizon Sky resort in Bodrum in the last four weeks after introducing a new interest-free payment plan.
Buyers can arrange payments for periods of up to 20 years, allowing them to purchase a £76,000 apartment for £208 a month and a 35% deposit staggered over the build period of around 18 months. Other plans are available and prices range up to around £200,000.
“We are able to provide this plan because we generally don’t work with agents so most people buy directly from us,” Signature’s head of sales and marketing, Daren Wallbank, told OPP.
“We’ve had a very good response so far and buyers like the idea that we’re committed to the project because of the 20-year deal.”
The scheme is particularly suited to the Turkish market where mortgages are very difficult to obtain, said Signature spokesperson Daniel Dias. “Interest rates are high, terms restrictive, arrangement fees around 1.5% to 2% and some lenders even charge hundreds of pounds in upfront fees before they’ve approved your loan.”
Full story from
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