For sale Flat in Funchal

Property information

For sale Flat in Funchal.
Fantastic modern APARTMENTS FOR SALE.- IN CONSTRUCTION LAST TWO APARTMENTS AVAILABLE Freehold. TO BE COMPLETED IN 2017. It has double glaze windows, wood flooring, spacious rooms gourmet kitchen, pre installed air condition intercommunicator,.Quality Finishings Internet access. It is close to public services, supermarket, buses and public transport Five minutes from the centre of Funchal. It is mainly a residential area surrounded only by houses and plots of land. It has views to the ocean. Weather – (Normal Temperatures) warm summers and mild winters Dec - May Between 16º C and 17ºC June – November Between 19ºC and 20ºC FUNCHAL is known as EUROPE´S most picturesque and cleanest capital. It is a modern, cosmopolitan, rejuvenated city, well known for its WARM CLIMATE , top class restaurants, stunning new 4 & 5 star and warm all year round climate and of course its most famous export, world class footballer CRISTIANO RONALDO. Mortgages - Non Residents The Bank will verify if the applicant is in a financial position to be able to meet the conditions of the loan which will be based on 'affordability'. If an applicant is self-employed, an application must be accompanied by audited accounts for the previous three years together with the current year's management or unaudited accounts, satisfactorily certified by an accountant acceptable to the Bank, together with three years tax returns. The Bank will usually consider lending up to 65% of the valuation of the property, or purchase price whichever is lower. Security The security will be either a mortgage over the property or if the property is owned by a company (which the Bank requires to be managed by a specialist management company from it's approved list) the Bank will require a charge over the shares of the company along with a mortgage registered on the property. The Bank will recommend an assignment over a suitable life policy. It will also be a condition of the loan that the property is insured for it's full replacement value and the Bank's interest noted thereon. Valuation of property Approval of any loan application will depend upon the Bank's valuers providing a favourable report on the property, the cost of which will be borne by the applicant. Procedure Once an application has been approved by the Bank and the terms and conditions have been offered and accepted, all legal documents will be prepared by the Bank's lawyers with all legal fees to be borne by the applicant. BY APPOINTMENT ONLY #ref:RefAPA_428

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