ryanair charges

Judgepix

Welcome to the Forum and hopefully Jumilla as a fellow neighbour.

I have sent you a private message regarding your questions.

regards

Darren

Hi Judgepix

I have dealt with them and would again. I found them to be very professional and true to their word. They took me out on an investigation visit and although I ended up buying through someone else (I eventually went for a Dalia as it was more what I was looking for) they were great and I received my deposit back within 4 days.

I would use them again and probably will at some stage.

Mickyl

My wife and I have purchased a property at SADM through Smart Investor and have been happy with the situation in terms of the purchase.  Clearly we are disappointed with the delays, but such is life. 

The ability to use the property for about 12 weeks in the year is what we are after, and whilst thats not in the peak times, I'm not interested in going there mid-Summer anyhow - too hot for me.

Darren, if you have anything of interest re: Smart, I'd be interested.  They seem to have recently devolved responsibility to Ward & Co, which whilst being a little nervous of this, they have provided the first good update since we signed on the dotted.

We also appear to have got a Bank Guarantee - not one bespoke to us, but part of a wider guarantee totalling €6.5million, which hopefully covers our own small slice OK.

All info welcome - role on Christmas 2009 ??

J & E

Jon

Have sent you a PM

Darren

Hi - I bought with Smart Investors Services and would never use them again.  I bought my house after it was completed and the inspection trip was great.  I really love the house I bought (at Playa Golf II) but their "investment advice" was awful. 

• They stated that I could cover my mortgage with rental income - and then the rental company they signed me up with got me 1 week in a year
• They showed a mortgage rate of around 3% on their literature and the mortgage they arranged for me is over 6%
• They advised that capital gain would be about 15% per annum and that I was getting a substantial discount on my property - a year later there are houses for sale on my development at 40,000 euros less than I paid and I believe that there are still many unsold
• They said they would pay my first year's mortgage but only paid 7,000 euros when the mortgage was 8,800 euros
• They seldom reply to emails or phone calls
• They took ages to deal with snagging
• When I complained they said they could not predict the market and it wasn't their fault, despite the fact that the market had started to fall well before I bought with them

My advice would be to use the people recommended on this website as they seem to have many satisfied customers.  Never, never, rely on rental to pay your mortgage and be prepared to lose a lot of money in the short term if you are buying for investment.

As I said, I love my house, and am about to move out there permanently, but if I wasn't able or willing to do this then I would have had to sell my house at a significant loss.

Regards

Thanks for the reply Claire.

Obviously not what you want to hear, but a variety of reaction is needed to get a complete view.

All I can hope is that after the 2 years of guaranteed rental income that there will be enough to go some way to covering the mortgage.  I can afford to subsidise the property, but not to fully fun it.

If anyone has any comments on the realistic rental levels, then great, but I imagine it will be really hard to estimate.

Cheers

Hi Jon - you should have a look at the general forum as there are lots of contributions about rental income from professionals in the industry as well as people who have purchased in Spain.

Do make sure you get everything in writing from SIS as I was rather naive and took their verbal assurances on a lot of things.

Hope it works out well for you.