The current payment terms for Regency Beach are as follows:
GBP1000 Initial reservation fee (refundable)
35% Deposit (less the initial reservation fee) payable within 21 days of contract
20% six months following initial deposit
20% twelve months following initial deposit
25% upon completion
The development will be constructed in two phases. Phase one will be completed in early 2009 . Phase two will be completed late 2009.
They are also offering 5% discount for anyone paying 90% at the time of contract.
I have to say that I think this is a pretty poor discount for cash - you'd be better off keeping it in the building society for 18 months, wouldn't you?
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