Affordable Housing – Hassans Centenary Terraces
Gibraltar Residential Properties (GRP) will soon be calling all the successful applicants to confirm that they have been allocated an apartment at Hassans Centenary Terraces.
Most individuals will only purchase one or two properties during their life time, so if you are one of the successful applicants, you need to ensure that you understand the process, are fully aware of the risks involved and the obligations that you will have to meet.
What happens next?
If you are allocated an apartment, you will be required to sign a reservation agreement and pay a non-refundable reservation fee of £500 by 5.00pm on the third business day after allocation of the apartment. Upon allocation of an apartment to you, according to the conditions of sale, you will receive the following documents:
Within ten working days from you signing the reservation agreement, you are obliged to sign a purchase agreement and thereafter pay monthly instalments of 0.655% of the sale value of the apartment up until the date that you complete your purchase.
Why should I use Triay and what will you do?
Triay is a full-service Gibraltar law firm divided into a number of distinct practice areas, one of which is the property team. The Property Team is recognised by a number of legal directories, which includes the only Hall of Fame lawyer in Gibraltar ranked by Legal 500.
We offer a professional, expedient and informative service which ensures that you are aware of:
We will also advise you in your obligations to any lender. We will review the documents relating to your purchase, and will provide you with a breakdown of the costs and expenses you will incur during the process.
We would be delighted to assist you with this important step and to advise you from the date of the allocation of the apartment up until the point you are handed the keys.
This document has been issued on the 17th Apr 2020 by Triay Lawyers Limited, trading as Triay Lawyers, a Gibraltar private company limited by shares with registered office at 28 Irish Town, Gibraltar, GX11 1AA and with incorporation number 112599. The information in this document is for general information purposes only and does not constitute professional advice, legal or otherwise and does not intend to be comprehensive. Triay Lawyers does not accept responsibility for any loss that may arise from accessing or relying upon the information contained in this document.
On Monday 16th May 2022, the Honourable Steven Linares MP provided an succinct update in Parliament on the construction of the Co-Ownership Housing Estates.
Director Jay Gomez has been appointed to participate on a working policy group by Minister Albert Isola Minister for Digital and Financial Services, the working group has been asked to advise