25 Oct 2008 1:21 PM:

I've been watching this site for quite some time now & I have to say I agree with Faith. It seems to me that we have two types of people, the Purchasers who want a house to live in & the Speculators who want to make a quick buck.

Unfortunatley the latter seem to be the more vocal!

These people have been driven by Investment Companies & Agents to put their 5% down & then sell before completion to make a profit. Now reality has struck and there is a slump in the Spanish housing market combined with a credit crunch in the UK, and the quick re-sales are not there. As completion nears, and reality proves that it does, then Investers are stuck with a Contract that they can't sell and it requires the remaining money to be found. PANIC!!!

I realise that there are probably some serious purchasers out there who are worried about the financial implications of completion, as this project has taken so long and in that time their personal circumstances could have changed. To those I offer my simpathy and can only suggest that they talk to the Developer and explore any available options.

To the rest of us (maybe foolhardy) purchasers, I am on phase 2 and will join Queenbee in her easter party. Those on phase 1, I hope they turkey is enormous.

Regards to all   Waterman


Community thread: What is going on?

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11 Jul 2008 6:06 PM:

An interesting message.
We are looking at the subrogation mortgage with CAM bank which appears to be economical in fees.
We already have an account with Banco Halifax Hispania and I did chat to them about a mortgage.
Their fees included 400 € for a valuation and also 400-500 € for a representative from the bank to attend the notary. Fees were coming out around 7500 €.
As reagards what they would lend it was strictly what was on the contract that we were paying - not including taxes.
60% of that valuation was the maximum we could mortgage.
So I did not particularly wish to pay out a valuation fee - a second opinion you might say!
I agree with your point about CAM and Clayton Ges but at least CAM are one of the largest banks in Spain.
Perhaps everyone is a bit world weary with the long wait and the market downturn. I probably wish I had never heard of Finca Parcs.
In the 4 years we have waited we could have sold our original house in Spain and be in a villa enjoying life instead of worrying about property downturns.
LAS H. is lovely  BUT!
AnnaB

Community thread: Business Premises

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11 Mar 2007 10:18 AM:

I have been so glad that we started this thread. Looking at the 359 "viewings" is quite astonishing.

We are all talking to one another and hopefully will get to the stage of housewarmings in the not too distant future. Something to look forward to.

George and Valerie

Community thread: Wanted, long term rent, 2 bed in / around Duquesa / Sabinillas / Estepona

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27 Feb 2007 12:06 PM:

I have spoken to the Developer today, and received assurances which satisfy me. This development, whilst lacking progress at the moment, has so much infrastructure completed could never have been a scam!  Anyone visiting site could not fail to see this.

I have been assured that the licences are due to be released any day and then building will begin.

I intend to keep faith with this project and hope that others will.

Community thread: Wanted, long term rent, 2 bed in / around Duquesa / Sabinillas / Estepona

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26 Feb 2007 6:35 PM:

As the originators of this thread we are also concerned. All transactions on El Romeral have also been suspended - check the website.

We did pay over the next instalment last July when we were assured the building licence for the house was approved.

Now we read that they are only just being approved!

I can understand the comments from Joe Mugs.

There are an awful lot of Spanish documents if you search the web under the name of the development. Try the translation engines and see what your opinion is.

I still feel that  eventually the site will happen but????? how long is the never ending piece of string.

Community thread: Wanted, long term rent, 2 bed in / around Duquesa / Sabinillas / Estepona

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