Cuban Entertainment Required

Expatica - Health
Post reply   Start new thread
New - Old :: Old - New

Pages: 1 |

Condado de Alhama forum threads
The Comments
16 May 2008 12:00 AM by ladylola Star rating in Swansea . Los Nara.... 337 forum posts Send private message

ladylola´s avatar

Hello campers!

Had a letter this morning from Banco Popular offering a builders mortgage. Personally not required but hubby called to find out more and they advised that they intend opening a branch somewhere in the Condado resort within the next 12-18 months.

Good news that we'll have facilities on site.

Angela

 



_______________________

 

Gary  & Angela  
....roll on retirement & 52 weeks a year in the sun!!!!!



Like 0

Spam post or Abuse? Please let us know

17 May 2008 12:25 PM by shampers Star rating in Warrington & Jardin .... 1057 forum posts Send private message

shampers´s avatar

Must be more than 1 Bank financing the development then.

CAM bank offering most people their builders mortgage.

CAM bank have also told me they will be opening a branch at Condado when the town centre gets going



_______________________

                  Dave                
 



Like 0

Spam post or Abuse? Please let us know

17 May 2008 12:32 PM by ladylola Star rating in Swansea . Los Nara.... 337 forum posts Send private message

ladylola´s avatar

Not surprising that there are multiple financers when your consider the size of the development really.

The more options the better for us I'd say.

We opened an account with Caja Bank when we went out last November but if they don't end up offfering facilities on site it'll be easy enough to transfer our account later on.




This message was last edited by ladylola on 5/17/2008.

_______________________

 

Gary  & Angela  
....roll on retirement & 52 weeks a year in the sun!!!!!



Like 0

Spam post or Abuse? Please let us know

17 May 2008 1:46 PM by PGM Star rating in Cheshire & LOS NARAN.... 862 forum posts Send private message

PGM´s avatar
   

Hi All

Cajamurcia is financing our apartment, Polaris World tell me you know who is financing your part of the development by who provides your bank guarantee and this is also the same bank in your contract you pay your staged payments to so would be the bank you would apply to take over the Builders Mortgage if that is your intention.

Regards

Phil




Like 0

Spam post or Abuse? Please let us know

17 May 2008 3:41 PM by hendert Star rating in Dumfries. 56 forum posts Send private message

Can anyone explain the benefits off taken on the builders mortgage against taken spanish or british mortgage



_______________________
Tom and Jane Penthouses, Block 11 www.hendersonsinspain.talktalk.net


Like 0

Spam post or Abuse? Please let us know

17 May 2008 4:43 PM by PGM Star rating in Cheshire & LOS NARAN.... 862 forum posts Send private message

PGM´s avatar
 

Hi hendert

The simple answer to your question is by taking over the builders mortgage you can possibly save about 2500 to 3500 euros in setup cost as these have already been paid by the Builder, but you would have to look closely at this to make sure the saving is worth the terms of the mortgage offered.

Spanish or British mortgage is personal preference.

For me:

British mortgage isn’t an option due to the poor exchange rate at the moment, as I would have to convert all the funds now.

Spanish mortgage is in the same currency as you are buying the property so it’s only your monthly repayment that has to be exchanged each month and when the exchange rate improves I will be able to transfer more funds for future payment at a better exchange rate.

If on the other hand you are moving to Spain permanently and will have a euro income then a Spanish mortgage would then be in the same currency.

Regards

Phil 

If you look around the Forum you will fined some good info in grater detail on this issue




Like 0

Spam post or Abuse? Please let us know

19 May 2008 10:49 AM by jaydee Star rating in Bangor N.I.. 122 forum posts Send private message

Hendert.

The builder's mortgage,especially the 60% one,seems the best deal.

It saves the legal costs associated with setting up a mortgage.I enquired at Barclays in Mazarron re a 85,000e one that would cover all costs,but was quoted 3,500e in fees!!

See copy below.

Principal requested for the mortgage
85.000,00
Application / arrangement fees
1,00

Land Property Register Search
12,00
Appraisal / Valuation
250,00
Stamp duty
1.300,50
Property Registry Land Property Register Search
267,38
Notary
471,92
Administrative services agency/conveyancer
300,00
Application / Arrangement fees
850,00
Total mortgage origination expenses
3.451,80

The 60% option also has 5 years interest only,as opposed to the 70% which is only 2 years and has a 1200e set-up..

The 60% has none of the above apart from a 560e one off payment.

The downside is that I have to find approx 9000e to go to completion but this to me works better.

Good luck

John

 

 



_______________________
John de Toot 


Like 0

Spam post or Abuse? Please let us know

19 May 2008 6:39 PM by shampers Star rating in Warrington & Jardin .... 1057 forum posts Send private message

shampers´s avatar
John

That's exactly what i am doing

Dave

_______________________

                  Dave                
 



Like 0

Spam post or Abuse? Please let us know

19 May 2008 6:52 PM by jaydee Star rating in Bangor N.I.. 122 forum posts Send private message

Dave,lend us 9000
John

_______________________
John de Toot 


Like 0

Spam post or Abuse? Please let us know

19 May 2008 6:59 PM by dringman Star rating in www.Condadoexcursion.... 772 forum posts Send private message

dringman´s avatar
Ask for another 10% to cover fees .  re Cam Bank

_______________________

  www.condadoexcursions.com   Airport Transfers Day Trips Alhama de Murcia Taxi No 10  
tel +441212881323   +34 622714979



Like 0

Spam post or Abuse? Please let us know

19 May 2008 6:59 PM by shampers Star rating in Warrington & Jardin .... 1057 forum posts Send private message

shampers´s avatar
I have written a cq out from the very kind Virgin MBNA Credit Card to my bank account.

2.98% fee (but no interest for 15 months)..................... the cheapest loan available.

Just hoping next year's bonus is enough to clear it

_______________________

                  Dave                
 



Like 0

Spam post or Abuse? Please let us know

Pages: 1 |
Post reply   Start new thread


Previous Threads

working as a childminder in la nucia - 1 posts
electric and water suppliers in Olvera Andulcia - 45 posts
Confiscated iron - 6 posts
Estate Agents Commission - 28 posts
Of interest for anyone living in Alicante or Murcia regions and wanting an interesting day out! - 1 posts
Gas Heater - 4 posts
Corvera Airport - 25 posts
HPA section 9.4 Contribution to expenses - 25 posts
Motorbiking in Andalucia - 3 posts
Certificate of habitation question, Alicante - 9 posts
Forum signature policy change - PLEASE READ - 3 posts
Spiral Staircases - 7 posts
Are HID headlight bulb systems legal in Spain? - 28 posts
New rental website - 0 posts
Alcazaba Hills - 11 posts
Debt Termination Incorporation - 9 posts
What Now - 15 posts
CAM charges - 8 posts
duplicate nie - 8 posts
Franchising: a good option in Spain - 3 posts
marbella uk key management services - 20 posts
Bargains in Spain for two years more - 0 posts
P.G.O.U PLAN - 10 posts
Advice From Justin Re. Sicily - 1 posts
Charity Event For Cancer Relief in Torreguadiaro 26/09 - 8 posts

11 posts were found:


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x