Smart moves to incentivise Abbey Fort home sales

THE developers of Abbey Fort in Kinsale pulled off a smart, advertising coup last year.

They emblazoned their logo on bales of wrapped silage and parked trailers in strategic locations. It was an inspired form of direct marketing.

And with just 10 townhouses left to shift at their Kinsale development, Dunboy Construction have also roped in Ulster Bank in a solid mortgage offering.

This weekend they are opening their showhouses not only to display their delightfully designed wares, but to provide a platform for Ulster Bank mortgage staff.

They’re offering a Secure Step product which offers guaranteed protection against decreases in property values as part of a loan package. The banking group are offering protection against a drop in values up to a ceiling of 15%, and they are open for applications from trader-uppers, as well as first-time-buyers.

They are also prepared to offer up to 95% of the value of an Abbey Fort property on a variable rate of 3.7% or a fixed rate of 4.2%.

The refund, if any is required, will be paid by the developer against the mortgage sum and will not be adjusted if the property remains the same or increases.

Also, if a buyer sells within five years they are precluded from claiming a refund under the scheme.

And the third caveat is that those with low mortgages will not be due any refund if the mortgage balance is lower than the value guarantee amount after the first five years.

Valuations will be conducted by four of the leading estate agencies in the country, on an independent basis, but a prospective buyer should take legal advice before entering into any agreement.

However, like the wrapped silage, this is a positive move by the developers to market their homes and indicates a willingness on the part of Ulster Bank to hand out money — something the major banks are accused of not doing at the moment.

Dunboy Construction, who are Killarney-based, have done a good job at Abbey Fort and have reduced the townhouse element of the scheme to sell the last 10 units.

Two beds are now down to €270,000 for just under 1,000 square feet and three-storey three-beds are on offer at €297,000 with 1,200 sq ft of space.

Gillian Ryan of Irish and European, (along with Patricia Stokes of Sherry FitzGerald), will open the showhouses on Saturday from 2pm to 4pm.

The townhouses combine high energy efficiency, (they come with an A rating), with generous space and the finish is modern and fresh, but with a timeless elegance.

Open plan on the ground floor with glossy German kitchens to the front, they come with bright, spacious living rooms to the rear.

In the three-bed units, two bedrooms and a bathroom occupy the first floor, with a full master suite at second floor level.

The standard of design and finish of the showhouses is top notch, (they featured on RTE’s Showhouse series) and are well worth a look.