A Little Help Regarding Bank Guarantees Please!

Like many of you we are awaiting phase 2 penthouses at tdlt.  Reading the various messages posted, many of you are happy that ''at least you have received your bank guarantee''.  I realise that this next question may make me seem like a complete muppet but, what is a bank guarantee and can i still get one, if it's appropriate to my situation, given that our 40% was paid on 10/2006 & 06/2007.  Any help would be great, thanks.

Hi, a bank guarantee is a reassurance from the bank that Polaris use to fund your resort that should they go belly up your payments are covered by the bank.

Polaris do tend to drag their feet in issuing these guarantees so you really have to keep on at them to get them issued.

If you send an email to customerservice@polarisworld.com and in the subjct line address it to Susi Baltus she will do her best to help. I find as long as you treat the people at customer services with respect and don't go in guns blazing they are more than helpful and Susi has always done her best for me, she speaks excellent English and has always phoned me back on the same day I have emailed her.

Just put your question, plot number and home phone number in your mail and I am sure she will help you

Cheers

The apartment on a golf course with lakeside views

www.terrazasdelatorreapartment.com

Nice one!

I'll Do it today, thanks for your help, i'll buy you a drink in the bar when we all finally get there.

Hi - we were almost 2 years 9 months awaiting guarantee. We eventually, through the sheer persistence of our Solicitors, got one last November.  It is a little bit of reassurance.  We had threatened to pull out of the contract altogether if we didn't get one.  Spainish law drives us mad because in Ireland you must get this guarantee (home bond) as soon as you have handed over money (or maybe shortly afterwards).  What drives me mad is that Polaris World have been breaking the law by  not issuing these for soooooo long and yet no one in authority has done anything to stop them selling even more property.  My advice would be to get your independent solicitor to start writing to them on a regular basis (oh by the way they never actually replied to our Solicitor's letter once) and then out of the blue came the guarantee.  I really think they need some very formal lessons in customer service.  I have advised anyone we know not to deal with them.  Am totally disappointed!   Fran