13 Nov 2012 4:52 PM:

 Hi,

 

Has anyone tried to terminate their building insurance with the Bank? My mortgage is with Bankia and I have a building insurance I would like to terminate.

Thanks

Re

Silvana

Community thread: Buildings Insurance

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30 Apr 2012 2:41 PM:

 Hi,

I am an owner at Terrazas, I bought back in 2006 and completed in 2009 in Phase 1, just in the middle of the financial crash. At the time I was very reluctant to complete because I knew about the mess Polaris and the banks were in and I knew it would take ages to see the resort complete. I involved a local lawyer (I'm myself from Murcia) and he told me I would have very few chances of winning the case and get my deposit back, however, he did say, that after completion, all the owners should put presure collectively on Polaris to get the facilities finished, because at the end of the day, when we bought the apartment, the asking price reflected the fact that the property was within a golf resort with ALL the facilities advertised. Therefore we have paid for these facilities in the price of the apartment, and these are not there now. However I agree that the best thing for the resort and all of us is to see all the apartments sold. But again, if they not finish the facilities the apartments will not be sold. I already discussed with the bank in Murcia two years ago and they agreed, they are aware of that, the banks need to sell the properties too, but I don't know why they are not putting money into it. I know banks have huge problems in Spain because of all the land the bought too.

Perhaps there is a way of putting presure to make sure the banks that own the resort invest in it to finish it. I am keen to contact the lawyer in Murcia to find out. The banks have been borrowing money from the ECB and they will be bailed out soon.

 

Community thread: compensation because of lack of facilities

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02 Jun 2011 5:50 PM:

Hi,

I am in block 30, Phase 1.

I agree that we should act collectively to get some movement or at least more information. I was one of the first owners to complete in this resort back in Dec 2008 - Jan 2009 since my appartment is in Phase 1. Since then, like everyone, I have been waiting to see the facilities I was promised by PW in their marketing brochure when I bought my property back in 2005. They need to complete not only the apartments but all the facilities they advertised, town centre, sport centre, shops, restaurants, etc, etc. And we should receive more information from them about the plans to complete this resort.

I am concerned that PW/the banks will complete the apartments and then stop working to finish the rest. Hopefully that will not happen as the banks need to sell all the properties they have there in stock and that will be difficult if the facilities are not there. 

I also think the resort needs some areas of shade. You can easily reach 45C degrees in Murcia in August, and I miss that shade in the resort, big trees, etc. Olive trees is not enough.

Does anyone have any information to share?

Thanks

Oliva

Community thread: Latest visit to Terrazas

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