Those that aren't pulling out

 Hi,

Has anyone any views on the show flat interior? Has anyone had any discussions yet on choosing interiors? The decor at Finca Cortesin is very upmarket and is more in line with what we were hoping for although we do like the kitchen and even the wild colour bathrooms.

Agree with you regarding qualities at Finca Cortesin. It is a completely different level to the Village and any comparisons in terms of price and quality are tenuous at best

And the new prices at the Village make it way too expensive on a square metre basis

I understand that posh apartments in Sotogrande fetch about 6000 a metre, Estepona maybe 2400-3000

the little 72 metre apartments with 20m of terracing will need to value at about 5000 per metre. It's never going to happen

cheers

 Hi Goonerfan

The price comparisons should not really be made just to the area. We looked at this beforehand and would never have bought based on an apartment square metre comparison in Estepona. The FV was much more expensive than anything else on offer there. We bought based on comparisons to places like Finca Courtesin and more importantly La Manga. In our eyes we bought something that was outlined to become the next La Manga and therefore would fetch more than other property in Estepona. I don't want you to think we are dreamers -  because the prices do seem inflated but I think the comparisons with the places I have outlined are what we should look at. La Manga is much cheaper!

The delay in the Hotel is something that really concerns us. It was a big part of how we saw this resort attracting holiday makers - not just the golf course.

I can understand people wanting their money back, especially right now but I wonder how many of these people were in it for the long to medium term (5-7 years)? This is what was sold to us.

I have a site visit planned tomorrow - so will update everyone as I plan to ask my sales guy a lot of the questions people here seem to have.

 Hi All

We visited the site on Friday 28th November. Not much more to report than what has been published in the newsletter. One interesting conversation regarded the developer (Caixa Bank) underwriting the current prices to support a 70% LTV. We have been told that this has been agreed but are waiting for something in writing.

Has anyone approached VR about offering a loyalty payment for every month they are late with delivery from December onwards?

Anyone noticed the recent price increases? How can this be possible when no one is buying anyway? Are Valle Romano going to offer mortgages based on these valuations? Has anybody asked these questions recently?

It doesn't matter what they put the prices up to the valuations haven't increased and that is what you can get 60-65% of for the mortgage.

 Yeah, I understand that fully but this developer is a bank that offers mortgages. In the current climate they can't offer mortgages on overpriced property. If they underwrite the property value, they either genuinely believe it's worth or are being highly irresponsible. That is the situation as we see it.

Its not the banks that do the valuations its an independant company such as Valtecnic that do the valuations.

 Think that's my point. This is not some cowboy developer (apparently) it's a bank. So why create prices you know damn well a valuer will not agree with? And the property won't sell...

The VR development is owned by Kutxa,which is a savings bank in San Sebastian.Its a kind of mutual.

They are offering 70% mortgages and have a branch in Estepona in the same building as the VR sales office.The bank staff are exceedingly helpful.I am arranging a mortgage through them.

 Hi Danielca

Which property are you buying on? And what did Kuxta say with regards to the value of your property?

Thanks very much.

Hi Musicman,

I am buying on Villa Borghese.I was brought in by Football Village but preferred not to buy a "touristo" apartment.

Kutxa have not yet sanctioned the mortgage.I have signed everything and provided all bank references etc. and they have offered 70% LTV.I understand they cannot survey until a first user licence is issued by the Local Authority.Hopefully this will be completed in weeks.

 Thanks Danielca,

Would be grateful if you could let us know how that goes. 

Many thanks

Musicman

I am a buyer at Valle Romano and I have been following the discussion until today’s date. I must admit that after reading all the comments posted here I did not get a clear picture of the situation at Valle Romano so I decided to visit the site myself.

After having done so I am much more comfortable with my investment. The building works are well ahead and the developer was very helpful. When I mentioned that I did not have much information on the project they advised me to enter their new web page of VALLE ROMANO and apart from that they send newsletters to all their clients about the project. My problem was that Valle Romano did not have my updated contact details, which seemed to be a common problems amongst many English clients, who have bought at Valle Romano.

They recommended me to enter valle romano´s web page and send all my personal contact details via their contact e-mail.

Hi all,

I returned from Estepona last night.

My wife and I are  buying in Villa Borghese phase 1.

I visited the site last Friday and again on Monday.I was impressed.The progress is encouraging.My apartment is finished and the quality of workmanship and materials looks very good.There are numerous workmen on site and at Villa Borghese they are now marking out the underground parking spaces, sowing grass and planting countless plants and trees.

I am just waiting now for the First Habitation Licence to be issued by the local Council and we can gain entry.I expect to be on holiday there with my grandsons in July.

That is the second time I have been over this year and I see a big difference.The rest of the site is progressing well and the Football Village is coming on a bundle.

I have found this whole exercise over the past 20 months or so very stressful and who knows what will happen to prices but hopefully it will all be worth it.

 Hi Danielca,

We had two site visits in May and were really impressed with all the building work. It is really coming on now at the Football Village and we were very excited about the development.

Have you had any news on a mortgage offer yet?

Thanks

Hi Musicman,

I visited the Kuxta branch in Estepona last Friday .The bureaucracy is completed .They see no problem in granting a mortgage.But they cannot survey until a First Habitation Licence is granted .This was applied for on May 6th and the town hall usually take c.45 days.So I expect a survey to be carried out within the next few weeks.

 Thanks Danielca. Hope it goes well for you.