We are very pleased for the folks who post here saying how happy they are to be in SC.
Wish we were there too, SC is a brilliant development and if all the facilities promised materialise, it will be all we ever wanted for our retirement..
Unfortunately we may not be able to continue with our purchase, so your advice and comments with how to proceed appreciated.
Most of us are aware of the current economic crisis and virtually all of us are affected financially by it. It's hit us hard too. So much so that we don't think we can afford to continue buying our phase 2 quad villa.
We used our life savings to make a deposit and stage payments, and last year still owed Taray approx the value of our UK property when we bought on SC - selling the UK property would have funded our move to Spain and my small occupational pension would have funded our retirement. Money would have been tight, but there were compensations! Since then the pound has collapsed approx 30% and our property has fallen in value by a similar amount - but is also unsellable to boot!
This means that we won't have the funds to complete. Even if we do sell our UK property, we would need a mortgage, which we would have no means of paying. My small pension is paid in sterling and is unlikely to support us, let alone pay mortgages. At 60 odd, I can't count on employment, even if my arthritis allowed it.
We are asking for practical advise - what are our options? We ask as maybe there are other posters in a similar position. We don't want to loose our life savings, but suspect that may happen. Can we try and sell our SC property, even if we haven't completed? Should we contact Taray and tell them what is likely to happen, are they at all sympathetic? Could we try to transfer our phase 2 June 09 villa to another property being completed later by Taray and hope the crunch gets better. Is it better to do something now, or should we do nothing, just wait , default and loose our payments next year? Or what else is there to do?
Somewhat worried, sorry for the doom and gloom! Hope you don't share this reality!