Kevin

Hi Everyone
 Buying penthouse on phase 2 just wondered if anyone has been issued with there  bank guarantee  for any stage payments made to polaris , paid my first stage payment in feb 08 and still no bank guarantee issued. 2 payment is due end of oct 08 and have been advised by my soliciter not to pay 2 payment  till first payment bank guarantee has been given.Anyone got any advice on this subject

many thanks
Graham

Hi Graham,

I am in the same boat. I signed in November 07  and through a mix my own tardiness and assuming it happened automatically, didn't apply for the guarantee until Feb08.

Have still not received the guarantee and my solicitor has also told me not to pay the second installment which is due at the end of this month. If you are interested  in the outcome  if you want  to send me a private message I will let you know  what happens when you hit the time to make 2nd payment &haven't got the g'tee.

dave

As soon as you tell them you wont pay. The guarantee will be in the post within 7 days. Thats what I did, Only trouble is I have now been waiting 6 months for my second guarantee. They try not to issue them cos it costs them money.

Thanks Havey for the info, seems to me that it works both ways in that if I need to delay things at the final stage the guarantee can raise its ugly head again. The downside of course being if Polaris goes belly up!

Oh well lets live in hope. Seems to be the only way to go when you are involved with PW.

Cheers Dave

Just noticed that people are talking about bank guarantees, the other thing to bear in mind is to keep hold of the receipts of payment you should have had from polaris as when it comes round to mortgaging the property the bank want these to prove the payments already made.  

We have been waiting since May 2007 for our 2nd bank guarantee.  Despite telephone calls, personal visits and pressure from our solicitor still nothing.  We spoke to a member of staff at Polaris and were informed that he was under instruction not to issue any more guarantees and to pass all calls to customer services.  We all know where that gets you - NOWHERE!!  

If anyone can advise what tactics they have successfully used to get the bank guarantee I would love to hear from you.

Jackie

Got a call from Polaris customer services today in response to an email I sent them last Wednesday about my 1st bank guarantee. Young lady told me that it was in progress but they were unable to tell me whether it would be completed in weeks or months!!

Was due to make my second payment on Thursday but they said they would not expect me to make the payment until the guarantee is recieved. That seems like a very reasonable response to me so I at least I will have the euros on deposit in the meantime.

Has anyone who has already paid the second installment received their second guarantee? Has anyone who has not recieved the second guarantee had any legal advice as to how they would stand in the ranks of creditors should the worst happen to Polaris?

I am going to La Torre on 7th August and if anyone has any angles on this that would be worth talking to Polaris about I am willing to try.