Taray 1.46?

Because of the euro dropping all phase two buyers as i can see like ourselves are going to have to find a lot more sterling on the balance due on completion and if the propertys dont make realistic valueations it could mean lose of sales, a suggestion would be for all buyers to contact taray or our solicitors for a negotication on the balance or a better exchange rate off taray if we all try this a body together might work i think ???? its only a idea but if you dont ask you dont get

We all had the opportunity of buying forward to secure the euro’s required at the current rate or thereabouts . So those who chose not to buy forward and gamble that the rate would be better have now lost. Will they stop bleating that they have gambled and lost.

I can not remember being asked to buy forward euros so I do not think we had this option, we new the euro might fall but no one expected it to fall this much, we brought through MASA we are not bleating on but trying to compleete on a dream that now looks less sure 

We are fortunate to be in the same boat as Barnslea, we also negotiated our own payment times, as I am due to retire from the Fire Service in May, and have our UK home on the market, all this was done last SEPT,  at the time there was no sign whatsoever of the bloody crunch it happened within 3 - 4 weeks of us getting home,we may have to meet with Joaqin again and ask for further time as we still have not sold as of today. I assume he is in the same boat as us also, he needs to sell, and the bonus for him is we still want the house, If you do not ask you do not get and he seems a really fair man to me and you have to be positive. fingers crossed.

  Kevin. 

I e mailed Taray customer services with this suggestion some time ago and never received a reply. I doubt they are under any obligation to cut a deal but they may have to choose between helping or loosing the sales.  Even with initial payments made its a fine line financially between completing at the current rate or withdrawing for now and going back in later as house prices drop. I want to complete now but cant financially, its that simple and not many people predicted the current global crunch! Congrats to you the smug expert that did!

When we purchased our house,we used a company called Currencies Direct to change our Sterling to Euros,a very good company who even advised when to change to get the best possible rate.At the time of the first deposit the rate was 1.46 ,we were advised that for £1000 sterling to the company ,we could fix this rate for upto a year in advance for further transactions.Unfortunately we as many people did ,did not expect the rate to plummet,so did not take advantage of the offer and our final payment was at a rate of 1.23,thus costing more than expected overall.So,yes the option would have been to everybody to fix a rate in advance.Its not Tarays fault,its the Brtish and world economy at the moment.

We used Currencies Direct as well. Like Steve & Anita we could have booked ahead for a nominal fee (which in hindsight we would have been better doing), but didn't as we didn't think the euro would drop as rapidly as it did as it was hovering between 1.45 & 1.48 for months after we put down our initial payment.

In the end we got 1.20 when we completed & that was partly our fault as we got offered 1.26 & against the advice of the dealer we thought we knew better & it would go up, but it didn't!

Our neighbours did buy their currency ahead when they put their first payment down & secured a deal at 1.50. It is peeving to thing that they managed to buy their house some £30,000 less than us, but that's life - it will just take us longer to pay off the extra.

Nobody really told us about currency fluctuations, but it is just something you are aware of once you decide to buy abroad. Our agents constantly told us that they were quoting us based on an exchange rate of 1.45, but this could go down as well as up. (A bit like endowmnet policies - we lost out there too!)

It is unfair to expect Taray to compensate customers for things that are out of their control. When you venture into purchasing a property of this kind of value you plan ahead & like most of us look at worst scenario before committing to make sure that you do not over commit yourselves.

I suppose the light at the end of the tunnel if you go for a Spanish mortgage is that the rate will improve over the years hopefully.

We love our house & have no regrets & yes it is costing us a lot more on a monthly basis than we had originally planned as all the bills need paying & they are costing us more! Perhaps we should ask Taray to help us with them?