PL23b – 3rd May 2003.

Posted by admin in Property Letters | May 3rd 2003

A short postscript to my letter of the 1st.

On Finance.
I met yesterday with the lending bank we deal with, and we are now establishing a track record, and hopefully deriving some advantage from that.

Without any guarantee of success yet, we are trying to get a 60% mortgage for our most recent Zim. Investor, and are likely to be successful.

I stress no guarantee but it seems probable that we will be able to achieve 80% for Europeans, 70% for S. Africans, and 60% for Zimbabweans if we put our minds to it. Your classification has nothing to do with the passport you carry – it is deemed that you are of the country from which your income is derived.
The renovations that are required on any property you are interested in can be similarly financed, as part of the main loan application providing I submit the quotes for renovation with the original application. If they are submitted separately they have to exceed 20 000 Euros in order to be considered.

If you have interest in any of the properties that I detailed in P.L. No 23, please let me know quickly, even if it is only an enquiry, let me get your name down. Santa Cruz has gone, and I have first options on a couple of the others now.

I saw one more interesting property yesterday:

Capri – Palm Beach.
Asking price 212 000 Euros.
One bedroom apartment. 60sq.m. with a balcony and sea view to the side. View ahead is a pleasant one of the suburb of Palm Beach.
2nd floor of a 5 floor very good building.
The flat is very clean, very open, light and spacious.
It is very fully and comfortably furnished, and all the furniture except 4 antique dining room chairs goes with the apartment. All you need to do is buy 4 or 6 chairs to replace.
Floors throughout are light and clean large tiles.
Kitchen is bright and modern – has a dishwasher and washing machine, and needs a little touching up only (some paint peeling in one corner)
Very big sitting room, off very large hall (the two could one day be combined to make an even bigger open living area.)
Bedroom is big, bright and comfortable – very nicely furnished.
Bathroom also nice light and modern.
Excellent position in Palm Beach, adjacent to l’Etang, and 100m. from the beach. Very rentable for holidays and congresses.
Offer – 175 000 and see what happens??

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