NEW BUILDING UPDATE!Praise God we have a mortgage offer, enough funds to buy the new building and carry out an initial refurbishment to make it fit for use.
We have yet to complete on the purchase and are working and praying through the final paperwork requirements.
Building Fund: kept open for ongoing necessary improvements and refurbishments. We are grateful for every donation, large or small
Deposit: large deposit is paid and we expect to complete in the next few weeks.
Refurbishment: We are currently waiting on quotes for the initial works.
A BIG thank you to all who have donated and are praying.
The next chapter is about to begin and we still have much work to do. Exciting times!
THE FINANCIAL REASONS WHY WE ARE DOING WHAT WE ARE DOING
Staying in our current building means a monthly rent (including IVA Tax) from June 2019 of €4,840 pcm increasing by 5% per annum means that over the next 10 years we will have to pay €730,523 in Rent.
God is good and we are partnering with Him in this venture
WE HAVE A MORTGAGE OFFER
Our bank has offered 60% over a 12-year term. We had hoped for a 70% mortgage over 15 years so our initial estimate of needing €208,000 has now risen.
WHAT THIS MEANS?
€480,000 to buy
+ €14,400 costs
+ €50,000 initial renovation
We will completely own our new building…totalling €544,400, paid off in 12 years.
THE KINGDOM REASONS WHY WE ARE DOING WHAT WE ARE DOING
The church is not a building made with bricks and concrete … it is of people united in Jesus Christ in the power of Holy Spirit building God’s kingdom.
Over one third of our congregation have become Christians in their later years proving that there is a harvest field among the Multi-national, English-speaking ex-pat community on the Costa Blanca South whom we serve.
Jesus said “The field is white unto harvest” (John 4:35) and TCF is well placed to bring the good news of Jesus Christ to a wide area surrounding Torrevieja.