1 Bed Kampana Financial Projection - Samos, Greek Islands.

Examples of Rental income versus outgoings for initial 2 years borrowing 100% property price plus all extras and outgoings
For the following examples We have used the following:
• Mortgage interest rate 4% (current rate as of 1st March 2009 www.pireausbank.co.uk )
• Mortgage figures http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml
• Exchange rate €1.12/£ (www.x.e.com as of 4/3/09)
• Maintenance @ €25 per m 2
• Completion costs 4% (should be less)
*Please note this is an example and mortgage and exchange rates will fluctuate

1 Bedroom Kampana – Average size 83 m 2
Price = £253,000
Deposit = £75,900
5% cash back on deposit for 2.5 years build = £9,488 (we pay up to 3 years, whichever sooner)
£75,900 - £9,488 = £66,412
On completion
70% balance outstanding = £177,100
30% deposit minus cash-back £66,412 – (this is optional to include in the mortgage)
4% extras on completion = £10,120
Furniture = €16,600/£14,821

Total mortgage required = £268,453 (borrowed in mortgage to cover 100% value – only 70% need be taken!)
Repayment 25 years = - £17,184 per year (£1,432 per month)
Interest only = £10,740 per year (£895 per month)
8% rental guarantee £20,240 minus maintenance (€2,075/£1,852) = £18,388
Annual Profit for initial 2 years
Repayment £1,204 per annum
Interest only £7,648 per annum