New property purchaser policy

OCEANICO Developments announced its adoption of a new policy regarding purchasing new property abroad.

The Overseas Exchange Bond is a financial bond arranged on behalf of the purchaser underwritten and issued by Exchange Insurance Company.

It is used to replace the traditional cash deposit typically required at exchange of contracts for a residential property.

Director of Oceanico Developments, Simon Burgess said: “Through the introduction of the Overseas Exchange Bonds we are enabling clients to pay most of the purchasing funds when the property is completed.”