The guide to spectacular property in and around ... - Quinta Properties

54
Use your equity
for investment
You can now optimize
your personal finances by
releasing the equity in a
property that you already
own for investment purposes,
or modify your tax
situation by refinancing it.
And you can elect to pay
interest only for a period
of 10 years.
The wonderful climate, beautiful countryside
and relaxed atmosphere attract
an increasing number of people to the
Algarve. But why not let your property
ease your life economically as well –
by using it to boost your personal
finances?
Many investors who could pay for a
property outright still choose to mortgage
the property. In some cases, this
suits an individual’s tax planning.
Others take out a mortgage and invest
it elsewhere in the expectation that
the returns will exceed the interest
they pay.
quinta properties financial pages
New and improved
A mortgage allowing you to release
the equity in your property is now
being offered by Jyske Bank in
Gibraltar. The Keyplan Mortgage, available
for some ten years, has been
updated with several important
improvements. The term to maturity
has been almost doubled from 20 to
35 years. A 10-year interest-only period
is also now possible. This offers you
repayment schedules to match your
financial circumstances. Mortgages can
be drawn down and repaid in seven
major currencies which you can
change throughout the entire term of
the loan.
The amount available will still be a
maximum of 65% of the value of the
property. It is, however, now possible
to advance up to 100% of the property
value if the funds released are
pledged to Jyske Bank as additional
security, such as investments through
the bank.
Jyske Bank offers a full range of
investment products, and the team of
professional advisers will be pleased to
draw up an investment scheme tailored
to your financial requirements.
You can choose an adviser who speaks
your preferred language, since Jyske
Bank has advisers in Gibraltar who
speak English, German and the
Scandinavian languages fluently. The
documents, reports and statements
are also produced in English, German
or Danish.
Of course you will have to keep up
payments on your mortgage as agreed;
and if you fail to do so, your home may
be repossessed. You should also be
aware that the value of the products in
which the sums borrowed are invested
may fall, leaving you to continue to
repay the debt.
Up to two Keyplan Mortgages per
borrower
You can now take out another loan
through the bank to finance 50% of a
second property on the Algarve coast,
the Côte d’Azur, or on the Costa
Blanca or Costa del Sol.
Having marketed the Keyplan
Mortgage for 10 years on the Algarve
coast and the Costa del Sol, Jyske Bank
has considerable local knowledge of
the areas, and the bank works with
local surveyors with vast experience in
appraising properties. This operates to
your advantage, as you can be sure
that the price you pay for a property
reflects its true value.
For more information on how to
optimise your investment, please
call us on 00350 72782, email
Jyske Bank (Gibraltar) Limited on
jyskebank@jyskebank.ltd.gi or visit
www.jbpb.com