Overseas Exchange Bond increases Oceanico Group’s sales

Leading Portuguese developer - Oceanico Group - today (30.10.08) confirmed the positive impact the introduction of the Overseas Exchange Bond has had on sales volumes, stemming from the successful two year partnership with Exchange Insurance Company (ExCo.)

One of the first developers to adopt the Overseas Exchange Bond following the launch in June 2005, close to 100 Oceanico Group buyers have used the product to secure their dream property off-plan.

The Overseas Exchange Bond, which replaces up to 20% of the cash deposit or part of stage payments required to secure a property at exchange of contracts, has distinct advantages for buyers and developers alike.

Nikki Loker, Sales & Marketing Director for Oceanico Group, explains: "The key attraction, from a buyer's perspective, is that the Overseas Exchange Bond allows them to retain funds that would otherwise be tied-up in the deposit. There is no need, therefore, for them to deploy savings, release capital investments or take out bridging finance. Many buyers prefer to retain their funds, while their property is being built.

"The Overseas Exchange Bond is an invaluable sales tool for us and we look forward to our continuing partnership with ExCo."

Frank Speight, joint CEO of ExCo - the company which developed and underwrites the Exchange Bond - comments: "The Overseas Exchange Bond holds real benefits for anyone contemplating buying a new property overseas - whether they intend to occupy the property themselves or buy it as an investment. It has been proven to be extremely effective both for buyers and property developers we are very pleased to have established such a positive and successful working relationship with the Oceanico Group."

For further information on Oceanico Group, visit oceanicodevelopments.com

For more information on the Exchange Bond, visit exchangebond.com