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13 Jun 2007 12:00 AM by sally Star rating. 34 forum posts Send private message

Does anyone have any recommendations as to whether it would be better to get a mortgage from a UK company eg, Halifax, Barclays or to use a Spanish company?

Many thanks.

 




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14 Jun 2007 4:29 AM by acezz Star rating. 94 forum posts Send private message

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I depends if you want a sterling or Euro mortgage. Set up charges can be expensive in Spain but interest rates are lower. Interest only mortgages are becoming more popular. I would say the formalities for obtaining a mortgage in Spain are simpler. A good broker should be able to find you a mortgage to suit. If you would like an introduction to my broker please send a pm.

regards

acezz

 




This message was last edited by acezz on 6/14/2007.

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16 Jun 2007 6:17 PM by acezz Star rating. 94 forum posts Send private message

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Developers mortgage.

IF....you do not want to take over the developers mortgage then NOW is a good time to ask your solicitor to advise the developer that you will make your own arrangements. If you leave it much longer then you may incur charges to "get out of it". I am not advising you either way, If you are happy to take over the developers mortgage, then do nothing, and you will automatically inherit it.

acezz



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18 Jun 2007 11:02 AM by sally Star rating. 34 forum posts Send private message

Does anyone have contact details (email or phone number) for the developers.? I asked our lawyers if any charges would be imposed on us if we didn't take out the developer's mortgage and the reply I received wasn't very helpful as follows:

'With regard to the Developer’s mortgage, your private purchase contract is not clear enough in this respect but we will do our best to save you having to pay cancellation fees in case the Developer demands the payment of such commission'.

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18 Jun 2007 11:46 AM by acezz Star rating. 94 forum posts Send private message

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Anyone wishing to contact the developer directly should obtain a contact address from their lawyer or agent from whom they purchased. It seems though that they will not reply to individuals. So reclusive are they that I am not sure if any purchaser actually knows who the developer is! 

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20 Jun 2007 4:24 PM by FCD Star rating. 7 forum posts Send private message

Developers mortgage - wow - as if you would ever give another cent to this company given that they have invested our 30% deposits for over 3 years and we have not seen a cent of the interest!

I recommend paying any fee's to any other bank anywhere in the world rather than being further involved with this developer (I hope the developer doesnt read this site and spray paint my apt!)

I am using a line of credit of an existing mortage in australia with my current broker who has contacts in the UK and gaining partial Euro mortgage ontop. Im doing this because despite interest rates in Spain being lower, the cost of transferring money etc neutralises it (AUD -EURO and cost associated etc)

F




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