Each Syndicate Ownership has been valued at £31,500 per 16/64ths share but is currently offered at the discounted price of £16,999 for the first two 25% shares.
Terms: Holding deposit of 10% of the purchase price to reserve your share, the balance payable in full or with our finance (see below) within fourteen days. The deposit may be refundable in full or in part within the 14 days if you decide not to proceed with your purchase.
Prospective syndicate owners must satisfy the original owner that they are sufficiently experienced to meet standard marine insurance requirements.
[This Border Minstrel advertisement (for an alternative design) was published in 1966 but, before you think our syndicate prices are extortionate, we should point out that £6,750 in 1966 is equivalent to £87,916 in today's money - and did not include all the extras now installed on Iroko!]
We are willing to consider financing your purchase, subject to status, as follows (example shown for first syndicate share):
Initial Payment: £9,999
followed by 47 monthly payments, each of £153.50
and 1 final payment of £148.37.
Amount of Loan: £7,000
Total of Monthly Repayments: £7,362.87
Total Interest (cost of credit): £362.87
Interest Rate: 2.5% pa (on monthly reducing balance)
Total cost of purchase: £17,361.87
(initial payment + 36 monthly payments)