Mortgage

Hi,

We have been approached by Bancaja for a Mortgage for an apartment on MM II . I believe they are financing the construction for MMII with Polaris World.  I've just been on there website ...put the figures in 152,000 Euros over 36 years .....and the cheapest monthly payment was 790 Euros !!  at a Rate of 5.35..........seems a little expensive to me ..!!.

Has anybody had any better offers ??.

Hi dalboy

i recieved an e/mail from cam es bank offering me a builders mortgage so i rang them and they told me that they were the main bank for polaris world on mm11 so ive informed my solicitor and he is going to look into it because my bank guarantees are with bankaja i will let you know what he finds out. maybee cam es have a better rate

I have had a similar call but I'm not sure what mortgage deals they are offering.  My solicitor has also suggested that developer's deals could be cheaper.  Am awaiting an email.

Just home after a trip to find out whats going on. Polaris world have individual mortgages on each property with 6 different banks, so different banks funding different apts. At the moment the Bank of Spain has interest rates at 4.35% it only reviews rates twice yearly. Cam bank which is on site charge 1.25 or 1.35 % on top of that rate. A lot better value to be found at home. Ian

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