The West Coast Properties

Developer finance

Our developers, Britannia Bay Developers are making it really easy for you to acquire your west coast property at St. Helena Views Phase 1, 2 or 3.

Take advantage of this easy finance to secure your stand from less than R2,700.00 per month.

How does developer finance work?

In this example we’ve used a R399,000.00 stand as an example:

 

Two years to finance the deposit interest free:

  • A 15% deposit is required when you want to purchase a stand.
  • On a R399,000.00 stand this amount is R59,850.00.
  • The developer allows the purchaser to pay this deposit off in equal monthly, interest free instalments for a period of 24 months (2 years).
  • During this period the property has not transferred into your name and therefore no levies, rates and taxes need to be paid by the purchaser.
  • No interactions with banks or stringent credit checks are required.

The monthly instalment translates to R2,493.75 per month (for 24 months)

After two years the following options are available:

After the initial 2 year period, the purchaser may finance the balance of the property amounting to R339,150.00 in three ways.

Option 1: The purchaser can continue to finance the balance of the purchase price with the developer at a very competitive interest rate.

Option 2: The purchaser can make use of their own bond originator or deal directly with their own bank to secure the balance of the finance.

Option 3: The purchaser can settle the balance with a lump sum payment.

 

Transfer of property into your name

After the initial two year deposit period, and once the balance owing for the stand has been financed, the property will transfer into the purchaser’s name.

It is only at this point that levies and rates & taxes become payable.

Shelley Point

Levies (approximate) R725 per month
Rates & taxes (approximate) R350 per month

 

St. Helena Views

Levies (approximate) R115 per month
Rates & taxes (approximate) R350 per month