OCEANICO OFFERS NEW FRACTIONAL MORTGAGES

Leading Portuguese property specialist Oceanico Developments has launched a fractional ownership mortgage scheme for UK buyers. The mortgage offers 60 per cent LTV financing to investors in its Stepping Stones fractional ownership scheme, which are available at the Amendoeira and Vila Baia developments. Interest rates on the loans are set at 2.265 per cent above the Euribor three-month rate. Prices for quarter-fractions of properties under the Stepping Stones scheme start at approximately £50,000.

“The spiralling costs of UK property mean that both first-time buyers and those looking for a sound investment are having to look elsewhere – they don’t want to put their money into inflated prices. Stable overseas property markets such as Portugal offer a solid investment. With the new Stepping Stones mortgages the financing is secure, flexible and can support the overall investment portfolio,” said Oceanico director Simon Burgess.

Buyers purchasing through Stepping Stones are also currently offered a buy-back guarantee for up to three years should they choose to upgrade to a larger property or buy a home outright, according to a company statement.

Posted on: Portugal

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OCEANICO OFFERS NEW FRACTIONAL MORTGAGES

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