Halcyon Hills
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Purchase Options

Viewing Trip and Pre-contract

The first step once having decided upon a property within the resort is to reserve it in your name. Your reservation fee secures your property for 30 days, in which time you will be sent a personalised contract for you to peruse. If, within 30 days of reserving you decide not to proceed, we will fully refund your reservation fee. During this time we highly recommend one of our bespoke viewing trips.

Post-contract

Having read, signed and returned the contract to us, your first payment is due within 30 days of the contract issue date. The second payment is due either on completion of the foundations, or in 12 months, whichever is later. Nothing else is then due until the resort is completed.

Cashback

The developer will pay 5% per year interest to you on the deposit payments until completion, meaning you are not losing out on bank interest when you make your stage payments.

Completion

Upon completion of your apartment or villa, the property will be thoroughly checked to make sure everything is finished to the highest standard. Together with a representative of the developer, an inspection will be carried out to check that you are entirely happy with your purchase.

Ownership

Due to Greek legislation, the properties are offered on a full sixty year lease with unrestricted use. Current Greek contract legislation states that after five years the properties can be offered on a full freehold basis and the contract with the developer states that at this time, the properties will be transferred to the owner.

The contracts also state that should for any reason a property not be transferred to full freehold ownership, then the leasehold agreement will be extended in perpetuity.

 

Finance Options

The payment structure at Halcyon Hills is very straightforward as described below.

 

Purchase Procedure for Full Ownership

  1. £1,000 Reservation fee
      1. Fully Refundable
  2. 30% Deposit
    1. (due 30 days from contract date)
      1. 5% Interest paid PA on deposit!
  3. 70% Final Payment
    1. (due on completion , guaranteed non-status finance-interest only option for 10 years)
  4. Furniture costs are 200 euros per square meter
  5. Closing costs capped at 4%
  6. Maintenance costs are 25 euros per square meter. Utilities are metered but only paid if the client uses the property themselves.
  7. Rental guarantee - choose from either:
    1. 2 year rental guarantee at 8% per annum then 50/50 split OR
    2. 9 year rental guarantee at 5% per annum then 50/50 split
      1. Choose on completion, and can cancel rental guarantee with 1 years notice to take 50/50
  8. 4 weeks personal usage
  9. 150% Buyback guarantee 10 years from completion
      1. not compulsory, buyer can choose to sell sooner or later if they wish

*SIPP units

  • As above but 67% deposit and no personal usage
  • *Incentive for buyers of more than 1 full unit (at the same time)

  • FREE completion and furniture costs!
  • 5% cash back on all monies for 3 years or until completion (whichever is sooner)
  • 6 weeks free usage instead of 4
  • *Incentive for buyers paying the full 100% property price

  • 6 weeks free usage (instead of 4)
  • 5% cash back on all monies for 3 years or until completion (whichever is sooner)
  • Purchase Procedure for Fractional Ownership (SIPP and non SIPP)

    1. £500 Reservation fee
        1. Fully Refundable
    2. 50% Deposit
      1. 30% due on contract 
      2. 20% on foundations in place or 12 months from contract
        1. 5% Interest paid PA on deposit!
    3. 50% Final Payment
      1. (due on completion, guaranteed non-status finance-interest only option for 10 years)
    4. Furniture costs are included at no extra cost
    5. Closing costs are included at no extra cost
    6. Maintenance costs 1/12 of 25 euros per square meter
    7. Rental guarantee - choose from either:
      1. 2 year rental guarantee at 8% per annum then 50/50 split OR
      2. 9 year rental guarantee at 5% per annum then 50/50 split
        1. Choose on completion, and can cancel rental guarantee with 1 years notice to take 50/50
    8. 1 weeks personal usage still included with rental guarantee options.
    9. 150% Buyback guarantee 10 years from completion
        1. not compulsory, buyer can choose to sell sooner or later if they wish

    *Incentive for buyers buying more than 1 fraction (at the same time)

  • Only 40% deposit required
  • *Incentive for buyers paying the full 100% property price

  • 2 weeks free usage (instead of 1)
  • 5% cash back on all monies for 3 years or until completion (whichever is sooner)
  • *SIPP fractions

  • As above but 67% deposit and no personal usage
  • Before Completion

    Many investors have funds tied up in property elsewhere. If you decide to release this equity and invest in Halcyon Hills, then the developer will pay you 5% per year interest. So with just a small reservation fee, you can secure a five star luxury property available at under the market value with minimal financial outlay and maximum capital gain. We will be delighted to put you in touch with an independent financial advisor who can talk you through the options available to you.

    After Completion

    The remaining amount isn't due until completion; by which time your property has increased in value in-line with the market predictions and market valuations. Your property is now worth substantially more than when you first borrowed on its value. This means, there is now ample equity in your property from which you can mortgage and easily settle your finance.

    When you come to mortgage your property after completion, the guaranteed rental return will substantially assist your repayments.

    Greek Bank Finance

    There are numerous banks who offer mortgages on Greek properties. Below we have selected one of the most reputable who have UK offices. However, customers are free to make enquiries with any Greek lender if they so desire. The Piraeus Bank www.piraeusbank.co.uk was founded in 1916. The bank now has 574 branches worldwide, 304 in Greece and 270 internationally including London. The banks total assets are currently approximately 37 billion Euros. The Piraeus bank already offers finance to UK citizens for the purchase of Greek properties.

     

    SIPP's

    • Property from £22,000
    • Returns exempt from capital gains tax
    • Separate & protected from company funds
    • Substantial capital appreciation
    • Guaranteed Rentals & Finance

    Halcyon Hills is SIPP compliant. Make substantial capital appreciation while benefitting from guaranteed returns, flexibility and significant tax benefits.

    By purchasing at Halcyon Hills, you can now guarantee your pension fund to grow by a minimum of 5% per annum for two years post- completion, plus substantial capital appreciation and anticipated rental returns thereafter. Contributions to a SIPP enjoy personal tax relief and/or corporation tax relief and returns generated by the fund are exempt from income tax and capital gains tax. Please note that owners do not benefit from personal usage when buying through a SIPP.

    The Guaranteed Buy back suits SIPP buyers perfectly as many SIPP investors want to know a timescale on when profits will be released, and this gives a guaranteed exit strategy should it be chosen.

    SIPP Purchase Procedure

    1. See above for Full or Fractional SIPP Purchases


    Please note - For SIPP investors the 5% cash back is placed into the SIPP fund only.

    We have IFA pension specialists whom we can recommend to assist you in your SIPP purchase.

    * Your property is at risk if you do not keep up repayments or loans secured on it.

    Contact Us

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