05 Jan 2012 12:00 AM:

 When we completed 2 years ago as part of our 1 year interest only offer from a certain Spanish bank, we were asked to deposit £7000 into an ISA with the bank for 2 years. All the correspondance with the bank representative detailing the terms of our mortgage offer stated that after the 2 year term we would be able to withdraw the money as it was to secure a better interest only rate. So in November we naturally wanted to withdraw the money back to the UK to invest in a higher interest account but after months of requesting details on how to go about it and threatening to speak to our lawyer the bank representative emailed to say the bank would be holding on to the deposit as we had agreed to a clause on completion that states they can keep the money for the term of our mortgage if they so wish (25 years). We knew nothing of this clause until now. We were misled by the bank all along and have evidence to prove we were told it was 2 years. The clause is deemed to be abusive by our lawyer and given the previous emails from the bank he thinks we will win a court case against them to release the money. Who would ever knowingly agree to something to say a bank can have £7000 for 25 years! Our lawyer has requested the money be released but they have refused. Imagine having to take a bank to court to stop them from keeping your money for 25 years, how can this happen?

I am telling you this just incase you have also deposited savings under false pretenses on completion. I am sure they have tried this with other clients and you need to check the documents with your lawyer. The document is in Spanish of course just to confuse you further. We have now got to decide if we proceed with court action which can take 2-3 years and pay 1000 euros upfront in costs.

It has got to the point where I don't trust anyone that we deal with in connection with our property and I wish we had never set eyes on Roda Golf as it has been over 4 years of hassle and a financial nightmare.

I hope you haven't fallen victim to this but please contact privately if you think you have.

Regards,

Erinjake1

Community thread: Warning about bank misleading customers

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27 Nov 2011 12:00 AM:

 Hi,

We were wondering how the Roda resale market is fairing today. Does anyone know of someone that has recently sold their Roda property, are there any buyers for Roda out there?

Thanks,

erinjake1

 

This message was last edited by erinjake1 on 27/11/2011.
Community thread: Current state of resale market

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23 Aug 2011 12:00 AM:

 I know that there have been numerous threads on this but I don't seem to be getting anywhere with the previous contacts.

We would lik e to rent out our 3 bed penthouse on Phase 3B on a long term basis from September, does anyone know of a decent company to go through or does anyone have clients waiting for such a property on Roda.

Thanks,

Nicky and Jeff 

Community thread: Long term rentals needed

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28 Apr 2011 10:25 AM:

 I have sent you a private message

Community thread: Apartment needed august 15th

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28 Apr 2011 12:00 AM:

 We are trying to persuade our bank BOV to change our mortgage back to interest only but they have only offered to give us 16 months and want to charge almost €2000 for the privelege! We are finding it impossible to find any info on the internet on other banks rates and charges as we might have to trasnfer our mortgage to another bank to taker advantage of a longer interest only period. Has anyone done this recently and how easy was it to do/ did the new bank charge to take over the mortgage?

Any advice would be appreciated as we can't continue to pay the high monthly payment as rentals are non existant.

 

Community thread: transferring mortgage query

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