Mediterranean Luxury Homes

Hi All,

Check this out Mediterranean Luxury Homes are still peddling CDS with
some of the same misleading information  albeit with discounts of up
to  150,000 Euros

Straight of the website.

On site amenities include:

    * Beautiful landscaped gardens
    * Great sports facilities
    * Swimming Pools
    * Commercial centre planned
    * 24 hour security and video porter in all apartments
    * 4-star apartment Hotel
    * Underground parking and storage room per apartment

The main emphasis is on the town of Casares which is nothing to do
with us and they are making a splash about the World Matchplay
Championship which means that they can not claim that the website is
old information which they have forgotten to update. Some of the
more outlandish claims have discreetly gone.

Go to http://www.casaresdelsol.com/index.htm

Dear All,

well "affordable housing" is a much closer description of what I was offered as a "highest luxury penthouse".

However even affordable housing or "municipal housing" has to be well-built and pass survey doesn't it?

No mention of the " front-line golf closed holiday complex with every facility".

What of the Taylor Woodrow Duquesa project with luxury granite worktops and Siemens appliances being sold by the bank at half price with 100% mortgages? Is that worth looking at?

Regards

Norman


This message was last edited by normansands on 10/25/2008.

I have just phoned the contact number given on the website casares del sol (earlier message below)  (telephone Tel: +44 (0)844 880 0474 - Derby, England) and had a go at them for peddling mistruths on their website. Perhaps some other people could do that.

What a shame we can't get hold of this company by the neck and......wring it!!

We have all been caught out by them and it is now costing us all a fortune to keep up with a dormant building site.  Have the solicitors got anywhere with their claims against the company?

We are at our wits end as to what to do with this so so expensive mortgage on a property we cannot market or let sufficiently to cover repayments.  Does anyone have any advice, please?

Wendy

PM2 CDS

 

 

Dear All,

I am not sure that this could be of any help to Wendy but it was advice I received should I have wished/been able to complete on an unsatisfactory property that did not meet specification or pass survey. Not withstanding that it had a "licence", may not have the "correct" planning permission but even had a mortgage valuation.

However it was suggested to me that possible assistance could come from a joint or part purchase. That way poor value for money might be shared with one or more other parties who were keen to share the sun in a desirable area with good holiday potential.

Again that was before the current economic turmoil with the 66P euro becoming 85P and parity not far off.

Certainly whatever is done a very serious financial loss has to be faced I am afraid.

Best of luck.

Norman

 

 

Wendy

Yes the down turn is causing  problems to many of us with mortgages to pay both new buyers here and in Spain

Of course the value of the £1 at the moment is making things even more difficult and high interest rates have caused a very difficult situation

Its like the stock market at the moment do people get out now or wait as in time it will return and so will this development however this dosent help now.

1 Good news is that interest rates are on the way down and with the predicted 25% of the Spanish  going be be out of work that may well go way down

2 Personally I do think the full effect of the credit crunch is being felt in and the value of the Euro is to high and that will be due for some adjustment

3 Banks dont want reposs and they are very aware of the situation i have mentioned here and have you asked if they can arrange solution to reduce payments ie longer period etc

4 Some Banks are allowing you to walk away but never ever do this without agreement as they may come after you in the U.K

5 Please talk to them most are very approachable

6 Whoever told you that rents would cover the mortgage were lying now you may have to rents at a reduced rate to help

7 One thing is for sure it will not rent itself and rather that listen to idiots that are telling what you already know try to try to look at the positives

8 A positive note for once and try to advertise shared ownership as it would make a great holiday and long term longer term return

Great location and over the longer period it will do O.K rather like the the stockmarket. YES WE  are on the roundabout at the wrong time however look at options as they are often there

Wish you well

Just Dan

 

 

 

 

 

 

 

Dear All,

There are of course not just hundreds, but thousands of liars out there populating every Overseas Property Show exhibited.

They are developers, would be developers, agents, franchisees, shadowy commercials of every description, but far worst of all are the lawyers the real respectable people who you pay vast sums to protect you.

They spin their lies with graphs and charts showing 70% occupancy rates and rising, enormous potential with their tame lawyers immediately on hand to confirm and sign you up on the spot, acting only for you and in your best interests of course, displaying all their qualifications peacock style.

Then of course there are thousands more "investors" and "contract flippers" and deluded owners all adding weight to the total nonsense.

Added to which are the many basically honest owner victims, who through shear desperation, avoid the truth and try to put the best spin on it.

One should always think positive, mitigate one's losses and get out or reduce exposure as soon as possible,

Some have done it by moving in and using their basically sub-standard holiday home as an annual  main residence and count the saving in fuel bills.

Unfortunately one then has to live with the cheap long term renters with their dogs and other problems in small apartments with very little acoustic protection and sparse family facilities.

Good luck to everyone with whatever choice you have made and stay positive but bank only the facts.

Regards

Norman

8/12/08 todays currency adjustment 1 euro = 86P  - parity gets ever nearer

 

This message was last edited by normansands on 12/8/2008.

 

Hi Norman

Some very good advice.

However all of the property is not bad

Havind said that alot of it is bad if built over the last few years

Regards

Just Dan

 

 

This message was last edited by chills on 12/14/2008.

This message was last edited by chills on 2/15/2009.