Christ Church Beachside Apartment for a Professional from Bristol
$245,000 · 20 years · 6.00% fixed. A Bristol-based professional purchased a beachside apartment in Christ Church - a more accessible price point than the Platinum Coast - as a holiday investment.
The Client
UK Residents - Holiday Home
The Challenge
A Bristol-based professional purchased a beachside apartment in Christ Church - a more accessible price point than the Platinum Coast - as a holiday investment. He intended to use it personally for three weeks per year and let it through a Barbados rental agency for the remainder.
Our Solution
Doulton arranged a non-resident Barbados mortgage, noting the rental programme as a positive factor. Barbados dollar is pegged to the US dollar at a fixed rate, eliminating currency volatility. UK income was assessed for affordability.
The Outcome
Apartment purchased. Rental programme generating gross income of $28,000 in year one. After mortgage, management fees, and local taxes, the property is effectively self-funding. Key highlights: Barbados dollar USD peg eliminates currency volatility; Rental programme generating $28,000 gross in year one; Property effectively self-funding after all costs.