Buying an apartment off plan or building a house? Our tailored packages include a pre-financing period which means your repayments are lower during the initial years.
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Our Préférence Soleil plan is designed for the purchase of an off-plan property in a building development or for financing the building of your own house by a contractor/builder. There are two phases to this package:
- Phase One : A portion of the total sum you need to borrow is released. For the first 12-24 months you repay a low, fixed monthly amount, agreed on at the outset, which includes interest on the sums released, a commitment fee on the sum non-released and insurance.
- Phase Two : Following the completion of your property at any time during Phase One, the loan converts to our classic, capital-plus-interest Soleil mortgage (5-20 years) on the outstanding capital.
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Our Flex package is a flexible-repayment loan divided into five-year phases. During each phase you may choose a variable or fixed interest rate, or a combination of both. If you opt for a combination, Flex allows you to change the percentage between the fixed and variable parts at the beginning of each phase, as shown below. With Flex you may also raise or lower your monthly repayments. If you opt for a variable interest rate, this mortgage can be repaid partially or totally at the end of the five-year phase with no early redemption penalty.
The Flex term ranges from 5-20 years, plus a pre-financing period of a maximum of two years (when applicable). During this pre-financing stage you repay interest and capital only on the initial sum released to you, plus a commitment fee on the non-released amount, just like the terms of our Préférence Soleil package.
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Your three mortgage options for each five-year phase - fixed
rate, variable rate, or a combination of both - are as follows:
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