Magnificent block of apartments in construction phase in the Old Town, Santa Maria Maior.
To be completed in August 2018
It is sold Freehold.
The one bedroom apartments have over 70m2 and two parking spaces
The two bedroom apartments have over 101m2 and two parking spaces - PRICES START AT 260 000€
The three bedroom apartments have over 138m2 and some with 194m2 and have three parking spaces - PRICES START AT 360 000.
Minutes from the centre of Funchal.
It is close to public services, supermarket, airport, hospital
It is 10 minutes from the centre of Funchal.
It is mainly a residential area surrounded only by houses.
It has magnificent views to the ocean and bay of Funchal.
Swimming pool and garden.
Finishings include top quality oak wood floors for the bedrooms, lounge and halls. Cermaic tiles for the balconies. White lacquered wooden closets in the bedrooms. Fully equipped kitchen with Bosch and Siemens appliances. Brum bathroom fittings.
Weather – (Normal Temperatures) warm summers and mild winters
Dec - May Between 16º C and 17ºC
June – November Between 19ºC and 20ºC
BY APPOINTMENT ONLY
Today, Santa Maria Maior has relevant hotel units and a much diversified catering offer. In fact, you can find restaurants offering you the typical food of the region as well as those offering international gastronomy.
In addition, Santa Maria Maior has a few museums you can visit, such as the Electricity Museum. The place where formerly football was played, called Campo Almirante Reis, has been transformed in a garden and is now an arrival and departure point of Monte cable car.
An opportunity to acquire a development site within the historic area of Santa Maria Maior, rich with history and yet modern in vibe
'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.