Obtaining an NIE number at Spanish Consulate Edinburgh

We have today received an e-mail from humas site agent that ground works have now commenced as promised.!

We have asked for some photo,s to be e-mailed to see as to the extent of the progress at this very early stage.

Anyone going down the refund route,this could be an option well  worth considering,,?

 

Hi,

I have just returned from OCC there was one JCB on site digging one hole, no cranes - no workmen - nothing !!! JUST WIND AND DUST

Sorry to put it like that

I think some poor souls are being frightened into opting for OCC

Several points:

People with bouncing cheques need to get their a$$es over to Mazarron and storm into the Huma office.  If possible, organise a trip for as many of you as possible (I hear the rentals on MCC where Huma is situated, are very reasonable at this time of year, which would make it nice and convenient)

Bank guarantees are just that.  The bank has your money safe and sound, even if they deny it  (with 6% interest.)

Huma have money, just not in the accounts that they are writing the cheques from.  They are trying to panic people into accepting the "easy" option.  Just remember that OCC is further from the beach and most facilities, than ACC ever was! 

Don't get me wrong, Tabernas (the town) is very nice, and more convenient for Almeria airport (that is if the UK flights into Almeria don't decrease any further) but it is not what I would call an ideal place to take the kids for a 2 week holiday - the beach is a long way away, and you can only really visit the film set once before the novelty wears off!

Likewise if you're planning on retiring or living there - I don't think essentials like hospitals are well situated?

 

You are so right about people panicking into choosing OCC.  It might be a beautiful place but I know from looking at a map of the area that it  is not what I want... so why should I have it and be grateful to Huma? The bank guarantee means exactly what it says. The bank will pay the amount guaranteed. My problem is I have only got one BG for the first stage payment. I presume that I will have to take Huma to court for the second payment if and when I decide that I have finally given up on ACC.

Before being panicked into Oasis you should also consider this ..

1.  I received an email from Polaris World just before Easter offering 40% for key ready properties. I believe Huma is adamant -  not offering any discounts currently at all on this site - you are paying full whack.

2. The pound has dropped recently over 10% and is still dropping against the Euro - so when you pay your balance of the remaining money in 18 months time - you could be paying 15-20% more in pounds to buy your Euros than last year when ACC should have been ready.

3. The Uk make up the main purchases in Spain and with the recession coming and UK housing market ready to drop and remortgages difficult to refinance on good terms, the purchasers from UK for Spanish properties will drop dramatically - even without the bad press.

So where will Spanish prices be in 2 years time? I would suggest very much lower - so why buy off plan now?? You are buying at top prices unless you negotiate a big discount.

Look at the figures, You buy on ACC for £100k - due to drop in pound you end up paying £112k. In the meantime - the resale value of your home drops 40% and so is worth £60k as your home is valued in Euros not pounds.  If you have paid £40k deposit to Huma - and you go to Oasis and pay full price - you have actually lost more if you exchange than if you had walked away without any refund! 

You may not agree with what happens in the money market or Spanish property field - but I am an Accountant and understand the implications too well looking purely at the money aspect - if the Spanish property prices continue to fall dramatically.

It may be slightly better to go to MCC as you actually may have some bricks to own - but I feel @ 10% discount - the figure are looking like they do not stack up any more.  10% is not enough in this climate!

It is alright buying a property Huma say has a purchase price of £100k - but if you can sell it only at £60k in the market - you have bought a massive loss - only Huma gain!

I have taken my own advice and intend to pursue a refund (which I may never get!!) - as I think Huma's prices do not add up in this climate anymore.

These are purely my thoughts and many may be more optimistic - but when I get emails with 40% off spain property - I sense panic and the rot has yet to set in - just today Halifax said UK house prices dipped 2% in this last month - a record for many years - the warning clouds are gathering.The World Bank is totally worried about the global future!

I am also involved in the UK construction industry and there is vast worry in the housing sector at the moment and most spanish properties have been bought on the back of the uk housing boom.

You could say that maybe you have bought a home and that in 10 years time it will be worth it's full resale value again - and if so - go for it - but why pay over the odds with Huma - there are better deals around from a financial aspect?

You need to research property values very carefully before committing to Oasis - you have no idea what the resale value will be - but I would bet a property nearer the coast would sell a lot better and would leave isolated properties such as Oasis with a depressed market value unless times change radically.

I would welcome other comments on the financial aspects from others and would reply openly to any people that disagree. This is my opinion due only on all the bad news to hand in the UK and world economy.

My only message is be careful - do not panic Mr Mainwaring!  With the number of court cases looming - Huma will have to pay up or go bust in the next year - not long enough to finish Oasis and where will that leave MCC owners?  Unless there has been some creative accounting going on!

Anyone going Oasis has effectively given up their option to a refund for another 2 years. Will there be anything left if Oasis is not built?

I wish I could be optimistic - but the world today is much different from the world 2-3 years ago! I have completely changed my mind in that time - I will not invest in Spain until the recession ends! It is financial madness to invest now off plan or even key ready!  The world slow down has not even got properly started yet!

John

 

 

 

 

 

 

 

John, you have written my thoughts far more efficiently than I could have done.

We visited MCC with a view to change over but it was not for us.  We didn't even go to Oasis because we didn't want the change in temperatures as we are likely to use the property more in Winter than Summer.

After careful consideration we decided if we went with one of the Huma properties which we didn't really want, with a view to re-sell it, we would end up worse off than if we lost our money already paid.  We actually didn't pay the second stage payment because they wouldn't give us a bank guarantee for the first one.

I think the chances of us getting our money back are equal to us being able to sell one of the properties on offer.

We are now purchasing  elsewhere a property which was key ready.  This is a property of our choice in a position we are really pleased with. 

I am no accountant but it certainly made sense to us not to part with further money to Huma when they are treating people so badly.  They are blackmailing people into changing properties by making it so difficult to get money back.  I am certain that we will be financially better off with our option.

This message was last edited by Sparky on 4/8/2008.

and just to add:

Any of you good people switching to OCC / MCC will soon hear Mr Huma knocking on your door for stage payments ! Be careful........

Although having said that, if you all pay the stage payments as requested then it gives me a better chance of a refund.....  only joking !!!

I've just re read Johns note below. Brilliant.

 PLEASE ALL READ IT and re read.

It is the most informative and realistic 'wake up call' you will ever read on any forum.

 

Great. Thank you.

John's post expands on what some people have been saying for a very long time!!!  And he says it all very well.  I have not been here for a while, as you may remember I bought elsewhere and have been delighted with our property - but I do dip in from time to time, and just want to say that from an outsiders point of view - it is pretty clear you have some people planted on here to encourage transfers.  Not naming names - but there has to be vested interests!!!

I do hope that i am not considered in this light as my only interests are to try and safeguard my substantial investment in the ACC and like lots of other people pass on there findings and opinions in an effort to gain a happy outcome!

By choice i would like my money back,with interest and costs deposited in a spanish bank acc gaining interest and with the exchange rate with the euro getting stronger a nice little earner,I feel that the euro could equal the £ in the future then the U.K could then easily adopt the euro as its currency,,but this is as prevoius posts ive made only my opinion!!

Finally geting money out of Huma is no easy task.fact,and if when it comes to the crunch and its all gone then we might all get nothin but your bg money if your lucky whot then !!

Great post John very interesting reading. Thanks.

Alfie

John,

 

A very interesting post - however the message has to be do not panic ! Talk of a recession in the UK is premature to say the least. Regardless of your political colours stability has always been the the watch word of this Government and they have riden out storms before - much to the annoyance of the Tory press and policians who are desperate to talk us into recesssion to improve their hopes at a future General Election !!

A correction in the UK property market will probably happen , but not on the scale of the early 90's as Interest Rates  inflation and the economy as a whole is under control .Interest rates will probably coming down in the near future which will help.

The pound is struggling against the Euro at the moment but when the credit crunch hits Europe this may change in the summer /early Autumn.

Moral of the story, wait a while but please do not panic and worry about recessions  !!

Cliff.

 

 

too late to worry about a coming recession clii, we are already in it!!