12 Jul 2008 9:38 AM:
Hi All
Just copied this from the mortage company news website..... I also checked out CNN web site and Parador properties have just joined up with cyprus airways and have a new office in Paphos. It seems it is just the uk surrey branch that is going and the rest of the company seems sound... if you read this IT WILL NOT AFFECT BUYERS!!! They seem to be just pulling out of U.K and to be honest who can blame them. I really don't think anyone should panic.......
Good luck to all and we hope to be over soon.
Kerry & Dave
News: Company News
8 Jul 2008
Breaking News
Parador Properties goes into administration
Overseas property specialist Parador Properties has gone into ‘voluntary’ administration.
The Surrey-based firm revealed that it had chosen to go into voluntary administration due to the downturn in the overseas property market.
Parador has confirmed that an administrator had been appointed but declined to name the firm dealing with the case.
A spokesman for the firm said: “This does not affect property purchases by any of its clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.”
Community thread:
Costs seem very high to change mortgage to interest only for two years
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