Fantastic three bedroom modern BUNGALOW FOR SALE.
Property with 1 floors.
TO BE COMPLETED IN APRIL.
It has double glaze windows, wood flooring, spacious rooms gourmet kitchen, electric gates
pre installed air condition intercommunicator,.
It is close to public services, supermarket, buses and public transport
It is 20 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.
Garden area has swimming pool, barbeque area
Weather – (Normal Temperatures) warm summers and mild winters
Dec - May Between 16º C and 17ºC
June – November Between 19ºC and 20ºC
BY APPOINTMENT ONLY
Having a mild climate all the year, Calheta, a place characterized by its tranquillity
and safety, a place where the past and the present are joined together in perfect harmony.
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.
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.
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.