22 July 2022 09:08 am Views - 339
From left: HNB Assistant Manager Housing and Personal Loans Sampath Dodanwela, HNB Manager Housing and Personal Loans Asitha Fernando, HNB Assistant General Manager Personal Financial Services Kanchana Karunagama, HNB Deputy General Manager Retail and SME Banking Sanjay Wijemanne, Prime Group Executive Director Shehana Brahmanage, Prime Group Executive Director Corporate Affairs Nalinda Heenatigala, Prime Group Finance Consultant Sisira Kumara and Prime Lands (Pvt.) Ltd Director Finance Anura Pathirage
Prime Lands Residencies PLC recently entered into a memorandum of understanding (MoU) with HNB to offer an innovative financing model for potential clients to own an apartment at The Grand, Ward Place – the Prime group’s luxury flagship project that is now nearing completion.
Ultimate Zero is a tailor-made financial solution partnered by HNB for prospective investors to secure an apartment by paying only 25 percent of the unit price as down payment and begin owning their ultimate living space in the heart of Colombo 7. It has zero VAT, zero interest payments within the first year and zero management fees during the first-year post-handover for clients.
A customer pays only 25 percent as down payment with no instalment payments during year-one, affording clients the freedom to manage their finances while locking in the price at the current market rate.
The Prime-HNB Ultimate Zero financing model provides a repayment period of up to 25 years, special interest rates during the promotion period, flexible payment options, step-up and residual payment methods, while providing concessions on early settlement and a grace period of up to five years.
“Real estate has consistently proven to be resilient during economic challenges in Sri Lanka and we have tailored this financing model to help customers lock-in both their money and capital at the current market rates in Colombo’s most sought-after property,” said Prime Group Executive Director Shehana Brahmanage.
“As this project nears completion, we are delighted to introduce the Ultimate Zero investment option to clients allowing them greater freedom in managing their investment.”
Through this unique financial solution, affording magnificent uninterrupted views of Colombo’s skyline, with a minimum of two car parking spaces and utmost privacy in the residencies, has been simplified for potential investors.
“We are very happy to be associated with the Prime group in offering attractive concessions under the Ultimate Zero model to those purchasing their residence at The Grand, Ward Place,” said HNB Assistant General Manager Personal Financial Services Kanchana Karunagama.
“The zero-interest plan during the first year is very attractive and this is an opportunity to align the investment with the buyer’s cashflow and start gaining ROI with a minimum down payment.”