1 Bedroom Detached House for Sale in Barbados

New Home

Agent Property Reference: island01

100% FUNDING IS AVAILABLE. The Island Sanctuary is an exotic, tropical paradise, surrounded by fresh water channels and reached only by private bridge. All properties have a 2 YEAR 10% RENTAL GUARANTEE, followed by a 5 YEAR 50% ROOM RATE SHARE. Each of the villas on The Island is secluded from the outside world by a living boundary of lush greenery. Here you will experience the deepest tranquility and succumb to the harmony between luxury and nature. This is a haven of serenity, comfort and pleasure - an exclusive oasis of peace and indulgence. The calming atmosphere of The Island is reflected in a superb standard of service and attention to your wellbeing. Available a PRE-LAUNCH DISCOUNT until 01/01/2008!

This property is available with the following number of bedrooms:

1 Bedrooms from £ 450,000
2 Bedrooms from £ 795,000

Brief Details

Distance to Airport: 15 minutes
Distance to Beach: Front line
100% FUNDING IS AVAILABLE (including the deposit)
Only 30% deposit, balance on completion
70% LTV guaranteed non-status mortgage available
Resort has a 2 YEAR 10% RENTAL GUARANTEE (including 30 days personal usage) followed by 5 YEAR 50% ROOM RATE SHARE

The Island Sanctuary is set within the beautiful tropical gardens. Situated in the southeast of Barbados on the breathtaking Atlantic coast in the parish of St. Philip.

The calming atmosphere of The Island is enhanced by the superb standard of service and attention to your wellbeing. There is nothing to concern you here; your relaxation and comfort is of prime importance.

Your dedicated butler will create an environment that anticipates and satisfies your every need. A carefully chosen and internationally-trained staff is on hand to provide impeccable service. Both inconspicuous and attentive, they will meet your every requirement with seamless efficiency and gentle discretion.

This is your own exclusive, private retreat in which to revitalize mind and body, spirit and senses.

The Villas

Enchanting and inviting, The Island villas combine the grace of oriental-style simplicity with contemporary luxury. Cool, white walls and neutral tones provide the perfect backdrop to indulge your sense.

Each villa is understated yet sophisticated and provides spacious elegant and light living space. Glass walls slide back to extend the living space onto a large terrace which overlooks its own infinity-edge swimming pool. Set in the corner of the pool is a covered sala designed to offer shade for a siesta, a massage or to provide an atmospheric setting for an intimate, after dark dinner.

Peace and harmony await within the walls of your villa. Air-conditioned rooms are elegantly appointed, with cool neutral shades and glass walls and doors admitting maximum light.

The villas are designed and built to the highest specification and furnished with every attention to detail. Bathrooms are luxuriously appointed with a refreshing outdoor rain shower; beds are large and sumptuous with crisp white bed linen. Everywhere you look, there are subtle, pleasing touches that enhance the ambience and add to your contentment.

Entertainment is effortless. Your villa comes with a state-of-the-art media centre with a flatscreen television and high-speed internet access. Here, your every requirement will be met, your every expectation exceeded.

The Spa

The Island Sanctuary Spa will fulfil your quest for deep relaxation. Here at the Spa you will discover a range of pampering and restorative treatments designed to stimulate, purify, soothe and de-toxify.

All treatments and products are in harmony with nature and include Hot Stone, Shiatsu, Thai Aromatherapy, holistic body and Thai massages and salt rubs, designed to complement a wide range of beauty treatments.

In this luxurious and graceful Spa, you will discover a choice of pools, steam, sauna and aroma rooms, sumptuous treatment suites and relaxation rooms designed for individuals or couples. Outdoor treatment suites are bordered by herb gardens and shaded by tropical vegetation, and each contains a Ying-Yang bath for purification and restoration.

FINANCIAL INFORMATION

PAYMENT EXAMPLE - 100% FINANCE AVAILABLE

Based on a Purchase Price of £200,000

To reserve a specific property you will need to pay a £1,000 non-refundable Reservation Fee
Within 45 days of reserving your property you will need to pay a 30% Deposit (Less the £1,000 Reservation Fee) which is £59,000 (£60,000 - £1,000)
Should you choose to borrow the 30% deposit (by way of either a secured or un-secured loan), the developer will pay the loan repayments, including interest, for the 30% deposit until completion of the specific unit you have reserved. These payments will then be added to the purchase price upon completion.
Example: Property price £200,000. £1000 reservation fee paid. The deposit = £200,000 x 30% = £60,000 - £1000 (reservation fee) = £59,000. Interest on £59,000 @ 6% p.a. = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion.
Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the £200,000 purchase price will have grown to a property value at completion of about £325,000
At this point a 70% "Loan to Value" guaranteed mortgage is available and you will therefore be able to borrow up to £227,500. This is clearly ample to pay for the £199,000 (purchase price less £1000 reservation fee) that you owe as well as to repay the payments that the developer has paid (£7,080 in the example above) towards your 30% deposit loan
Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 on which the annual interest payment would be £18,200 based on a rate of 8%. The Rental Guarantee of 10% of your purchase price of £200,000 will generate you an income of £20,000 each year, should cover your mortgage payments. If you wish you could retain the £59,000 loan you took out for the deposit, pay the interest yourself each month, from completion onwards, and use the money to invest in a further investment property purchase
After 2 years the 10% Rental Guarantee will end. At this time you will be able to take advantage of the 50% Room Rate share which is estimated to be worth at least £40,000 per year cash flow
Stage payments are required during the completion phase which can be made as follows

The developers have an arrangement by which they will be making the payments on your behalf which is being supported by their bankers in the Caribbean.
The developers will be appointing an independant quantity surveyor who will be inspecting the works undertaken at each stage and on this report the bank will forward the developer the funds related to the work undertaken. The customer will be charged the interest only that relates to the amount of money that the bank releases. The interest rate will be the rate charged at the time by the bank.
This process gives you the peace of mind that the work is progressing well and that the bank is watching and looking after your investment.
Once the property is ready the 70% is due, which you can pay in full or within the six months prior to completion, can arrange a mortgage with the bank in the Caribbean.

• Freehold

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Disclaimer: Please note that the details provided for property reference 00599567 are maintained by International Dreams, Clerkenwell. Look4aProperty.com makes no warranty as to the accuracy or completeness of these details.