how easy is it to get a mortgage........

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16 Nov 2006 12:00 AM by Louise Mattinson Star rating. 4 forum posts Send private message

We are being asked to sign and complete on the property before we have even been invited/asked to snag it. Given all the horror stories we've encountered on this site we obviously don't want to do this appreciating we will lose what little leverage we have to get faults rectified.

Can anyone advise if they have been put under similar pressure and how their solicitors have advised them to deal with this or indeed what they themselves have done about it in the absence of any legal advice?

How long have you been able to delay the process?

As anyone got a translated copy of the contract in English - it would help to know what exactly we had signed for an a clause by clause basis?

 



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16 Nov 2006 11:28 PM by nbk8r17 Star rating. 35 forum posts Send private message

Do not complete until you are happy with the interior of your apartment..... we delayd the completion process by 6 months ........ keep up the communication and ensure that all defects are documented and presented to all parties i.e your solicitor, Interlaken legal team, MLH and the 'snagging team'

You will either have to attend site or employ a company to perform the inspection....

Ensure your solicitor understands that you are not willing to complete until all defects have been rectifed etc........ they should communicate this to Interlaken's legal team



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29 Nov 2006 9:46 PM by Murphy Star rating. 6 forum posts Send private message

I have not yet completed on my apartment in block 26 but was originally asked to do so on 21st November. The latest date is 12th Dec but I am not confident that they will be anything like ready.

I understand from my solicitor that we can legally hold completion on the basis of significant outstanding works or defects but not for issues of more minor snagging. I have been advised that failure to complete can mean that the developer can cancel the contract and keep all payment to date! I will be endeavouring to hold completion until I am satisfied and will keep you posted.

I do have a copy of the contract which my solicitor translated to english if anybody wants a copy.



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30 Nov 2006 6:49 PM by KevinH Star rating. 35 forum posts Send private message

We also delayed completion for about 6 months until we were satisfied that what we wanted to be rectified was done prior to us instructing our solicitor to relase the final payment. make sure you let your solicitor know of all communication and problems so that they can fight your corner.


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09 Jan 2007 8:53 PM by Chris McLeod Star rating in B'ham, UK. 1 forum posts Send private message

We have a copy which I can send to you but have to remove our personal details first. We are in phase 3, & are being pressured to complete. Trouble is the lawyers are in-house (feet in both camps).  Ideally would like to have a refund & go elsewhere after reading some of the horror stories recently.



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10 Jan 2007 12:29 PM by gill_malouf Star rating in Stockport, Cheshire. 201 forum posts Send private message

Hi All,

 

On this site I read an article re the outlook for 2007 and came accross this :mark@therightsgroup.com . I am considering contacting them to see if something can be done...especially if we are en mass......the costs would be shared. WE NEED TO DO SOMETHING !!!



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10 Jan 2007 6:34 PM by Jerry Star rating. 74 forum posts Send private message

has anyone succeeded in having the mortgage cancellation fee of euro500 omitted at completion.  Our Lawyer says it is unfair and improper but that we have to pay it because it is in the contract.


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10 Jan 2007 8:56 PM by Ianmack Star rating in Manchester & Casares.... 125 forum posts Send private message

Jerry

Most people who have been communicating on this website have had it waived.Your lawyer needs to tell Interlaken that you are not paying it, and thats it! Its basically illegal and infringes your rights as a buyer. Even if its in your contract you can get them to omit it.

Visit:   www.marbella-lawyers.com/index/articles/showArticle/16

This is an article titled "Purchasing a Property from a Developer"

This article shows where the rule appears. Scroll down till you come to the section marked, 2 Specific Requirements, scroll to the last paragraph in this section starting with,

"Special importance is given here to clauses where the developer imposes on the consumer costs which by their nature should be borne by the vendor/developer, for example Declaration of New Works, Horizontal Division, and the costs of existing mortgage loan, such as opening or cancellation costs" 

Show your lawyer the article and if he still cant get out of it sack him!

Yours

Ian



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10 Jan 2007 10:15 PM by Jerry Star rating. 74 forum posts Send private message

Ian

Thanks for that information. Will advise lawyer accordingly. Seems he didnt pick it up at contract stage and that seems to be MLH position also " its in your contract so tough". We can only try! Thanks again

Jerry



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19 Feb 2007 11:07 PM by malcolmkay Star rating. 3 forum posts Send private message

Had the same issue in my contract with the cancellation fee for not taking the developer's mortgage. First solicitor signed initial contract - we later fired him. Second solicitor says we are stuck with it - he said that developer will refuse to complete if we don't pay the penalty. I think he is as complacent as the first, but how many more sets of legal fees can one pay as every solicitor wants the full 1% to check the previous one's work (so they claim)?  Am considering claim for this and interest (on the 40%  deposit) due to late completion, once we do actually complete, using a different solicitor again. I understand for completion delays in excess of 3 months we should be paid for lost interest on the deposit, but the contract also illegally excludes this.


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22 Feb 2007 4:24 PM by Jerry Star rating. 74 forum posts Send private message

We refused to pay the mortgage cancellation fee and they conceded eventually. Didnt address late completion issue. Apartment fitted out and looks very well Block 15. Overall we feel positive about the potential after a few days on site - much to be done to complete the grounds etc. though


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