12 Jan 2009 8:36 PM:

For the moment I'll take Peninsula's answer as accurate.

Has anyone else who is buying in Suites begun to look into mortgage finance. I would like to hear from you.

Thanks

Community thread: Court probes Granada golf complex

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24 Dec 2008 11:32 AM:

Dear Forum

I am buying in Suites - a two bed.

Peninsula (at least I believe its Penisula and not Grupo Bilbao)  have advised me that completion will be in June 2009. So I'm currently expecting to complete around June/July 2009 but if it slips into August or September it isn't necessarily an issue.

My lawyers (English but based in Marbella) have made sure that bank guarantees are current and uptodate for the approximately £50 to £55 K which has been paid as 20% deposit (plus some tax etc). They are adviving that I start the mortgage process now.

The question for me now is to sort out a mortgage. Peninsula have advised that thir people will get in touch closer to the time. The material on this forum seems to suggest that the 80% LTV with the Valuation being at or very close to the purchase price is being achieved. Assuming a resonable credit rating then, the availability of a mortgage should not be an issue.

The concern that I have picked up is whether the Developers mortgage is a good deal or whether it is better to go somewhere else. Has anyone else had to deal with ths issue on any of these developments?

Any advice?

 

Senex

 

 

 

 

Community thread: Anyone buying in Medina Suites? Completion dates? Mortgages? HELP

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08 Apr 2007 11:29 AM:

Thanks Stewart. I'm in the process of completing purchase of a one bedroom apartment in Casares beach. I need to furnish it and let it out. I'm a complete novice!
Forum thread: Do you need any assistance with your property on the Costa del Sol, new or old?

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