How It Works
How the acquisition of a villa at Elermore Glen works may different to other residential purchases. Find out more about the pricing, loans and charges that may apply when you become a member of the community.
When acquiring a villa, a resident lends the village the amount of the entry payment and enters into a 99 year lease. The loan is secured by a registration of the lease on the Title Deed of the land.
There is no stamp duty payable on the legal documents signed by you when entering the Village.
Residents pay a monthly recurrent charge which covers Village operating expenses such as insurance on the villa, land rates, water rates and usage and maintenance.
Residents are responsible for their own electricity and gas, contents insurance and telephone.
A departure fee, generally calculated on the final entry payment paid by an incoming resident for a new lease of the villa is payable. It is calculated at 5% per year for a maximum of seven years. For example, if a resident resides in the Village for a period of seven years or greater and leaves, the departure fee will be 35% of that entry payment.