Any Progress on Phase 2

HI

Just wondered has anyone been over to murcia recently  I was over the end of sept  and cranes were in postion to start on phase 2  but have not heard of any progress if any since . Was told end of 2009 for completion on penthouses phase 2 but don't think this will happen unless they have already started construction work maybe with the exchange rate the way it is  the delay on completions will work in our favor. Have had no contact from polaris regarding the 2nd stage payment and  with us receiving the bank guarantee for the 1st payment over a month ago thought they would have been banging our door down for the second payment  I know a few people have posted saying phase 2 will not start till all phase 1 propertys have been completed on, from which I understand that  they have been delayed on completing on ther propertys by polaris moving the dates to end of nov /dec so who knows maybe we might see some movement on phase 2 at the start of the new year.

 Regards

Graham

Graham

I like you was quite happy with a long wait the euro rate and mortgage rate but was a little concerned with a lack of communication from PW, so I e-mailed them yesteday. I had a phone call from them today informing me that phase II was no started yet , and is unlikely for a while.

They offered me an inspection flight over with a view to changing my property and offered me a discount on a key ready property.

I am not sure what to do, although if offered a good enough deal on La Torre would be willing to listen to what they have to say.

I will be going over after Christmas so will keep you posted on Phase II.

Andy

Hi Andy

 Yes the lack of communication from Polaris seems to be all to familiar when reading the other resort forums I think  what they told you about the delay on phase 2  is probably  right given the current economic climate and them trying to sell on there current  housing stock  before embarking on any new builds in the near future.It might be worth your while taking them up on the free inspection flights to see whats on offer but has we have stated the present  state of the pound v euro it might be worth waiting  for phase 2 to be built

Regards

Graham

Does anyone know when the building licence was issued for Phase II, or if it has even been issued by the town hall.

Ruth

Just had a long chat with Antonia in PW in Spain who confirmed that the Building permit is not in place but they hope to have it for the end of this year. The Dublin office said completion of Phase 2 penthouses would be Jan - Mar 2010 and Spain say Dec 2009 but this is the 5th different date that I have been given so I take it with a large pinch of salt.

Has anybody had any joy with refunds due to the long delays (over 3 years from deposit paid to projected completion) as at this stage my preferred option is to pull out.

Regards

Darren

Darren, Thanks for getting back to me.  However, we had to renegotiate our loan agreement last January with a Spanish bank, they spoke to PW who assured the bank that the property would be finished by Jan 2009, ha, ha, ha.  We have been waiting for 3 years also and have been paying interest on the despoit amount as we borrowed it from a Spanish bank, this was advised by Parador at the time.  We are now hoping to pull out completely.  We have had solicitors working on our behalf.  There has been much tooing and froing with PW but they say they are not in breach of contract.  ha. ha. ha.  Our solicitor is now trying to use our bank guarantee to get our money back, we are currently waiting for the Power of Attorney to be sorted out so that they can go down this route.  If they are not successfull, to take PW to court will initially take approx 7,000 euros, which we are more than happy to do, even if we dont win.  It would be good if you could keep me informed of any action/movement you hear about and I will do the same.

Regards

Ruth