Acquiring a Property at Monte da Palhagueira
All properties within the village are available on the basis of a 'Loan and Accommodation Agreement' to accord with English law. The loan is refundable at 1 year’s notice. On departure, a standard retention charge will be applied to cover the cost of refurbishing and remarketing the property, administration costs, legal expenses and a contribution to the village sinking fund to cover larger scale maintenance of the estate. Your sales adviser will provide full details regarding the current standard retention rate. All residents must be over the age of 55 years to be eligible to acquire a property.
There are several other advantages to this arrangement. No Government tax is payable, which in Portugal includes: Transfer Tax, Stamp Duty and Notary Fees. In addition, upon termination of the agreement the property reverts back to our original ownership - eliminating resale costs and uncertainty.
This process eliminates the need to sell, avoiding the incumbent expense of estate agents and solicitors' fees for the resident, whilst also ensuring the continuity of the high standards of maintenance and service facilities within the village for our remaining residents.
Properties range from £95,000 for a 1 bedroom Apartment to £350,000 for a 3 double bedroom detached Villa with private gardens. All payments are made and refunded in £ Sterling for added peace of mind.
A 20% deposit is required to take the property off the market, with the balance payable prior to occupation. We usually allow up to 3 months for completion.
Monte da Palhagueira is part of the award winning Amesbury Abbey Group that is owned and run by the Cornelius-Reid family, having been founded in 1972 by Mary Cornelius-Reid, M.B.E., A.M. The Group owns and operates retirement villages and nursing homes across Wiltshire and Hampshire in the UK, in addition to Monte da Palhagueira village.