Mortgage for Almoradi apartment?

We are really struggling to obtain finance for our apaertment in Luz Almoradi, we have been told we can only get a 70% loan to value mortgage at the moment due to the economic climate.
We are sure that 70% will not cover the amount we owe, does anyone have any idea what the present value of a 2 bedroomed, 2nd floor in phase 4, facing out would be worth? This may give us an idea if 70% would be enough. 
Furthermore has anyone been able to obtain an 80% Loan to value mortgage, if so who with? We have been in touch wih Mortgages4u recommeded by lizpryce, but thats also looking like it'll only be 70% too, we have to still finalise some details with them so you never know, but would like to get in touch with other companies too.
We have also been advised to have a lawyer read through our contract & see if there is anyway we can sell & not lose the total deposit, does anyone have any details of a good lawyer who could help us?


Any help you can give we would be really grateful.

Sarah x


This message was last edited by Sarah25 on 10/12/2008.

Hi Les 

ive sent you a pm
Tricia dave

Hi Sarah

We bought our Luz apartment over 2 years ago & could only get a max of 70% mortgage back then as a non-resident, so if you can get upto 70% now in the current financial state of the market then thats quite surprising.  Have you not already got a solicitor?  Maybe you could approach a bank directly for a mortgage, most of the coastal branches do have english speaking staff.  Have you tried looking through the general forums, great for knowledge, or even ask the same question as there are a few people that are in the right business to help you or guide you in the right direction.

Good luck & hope it all works out for you.

c

Hi Sarah 

We got our mortgage from Caja Murcia (there is a branch in Almoradi). We completed in July of this year. We are in Phase 3 (2 bed apt on 2nd floor). We weren't given a new valuation that I'm aware of, as the mortgage was based % of the purchase price. 

Hope you get it sorted out soon.  When do you complete? We are just back from Almoradi yesterday and it looks as if there is still a good bit of work to be done in Phase 4.

Send me a PM if you want more details on the mortgage.

Kind Regards

Linda