Where to Live in Spain...and Why?

Hi

Has anyone who needs a mortgage completed or looking to complete without the LFO anytime soon?

Any update on the LFO?

Thanks

Hi All

Are there many people that are not going to complete without the LFO?

I have spoken to our solicitor and we are waiting for the LFO.  The problem is not knowing how long we will have to wait!  If we knew it was going to be months then I would have booked an holiday elsewhere whilst waiting.  We thought if there was a delay it would be ok for the summer (07) at the latest. (should have been Jan 07).

Cheers  Pauline

Hi Pauline

We are also waiting for the LFO before we complete, we were over there two weeks ago and were told that it maybe June or July but we are not holding our breath! we were supposed to complete March 07.

Julie and Steve

Hi

We are also waiting for the LFO. We were supposed to complete at the end of February 07 but are unable to get any indication of when it might happen. We have booked flights for the end of June but more in hope than anticipation.

Gordon & Carol (Block 2)

hello all

we have signed for our deeds and took possesion of our property in april  we are quite happy to be on builders supply for a few  weeks/months it means that we can now keep coming over to spain we have furnished it and can stay in the property their are other people who have moved in as well taray have a good reputation so we dont feel that their is a problem

Rosita & Rob

Hi Rosita and Bob

We met several people who had moved in without the LFO on our last visit and our solicitor said she was not worried by us not having it before completion as like most other people have mentioned there seems no doubt taray will be granted the LFO its just when that will be? but our problem is that our lender will not let us go forward with completion until this is granted, I don't know whether others are in the same situation as us.

Regards

Julie and Steve (Block 1)

Thats a question i just asked on the general forum. Justin replied that some mortgage companies do lend without this but he thinks they might have a vested interest in the "specific" site. Maybe someone else on the general forum will come on and reply as well who knows more about mortgages.

Just pasted this from the general forum

You don't need an LFO to get a mortgage.

In a lot of cases, LFO's aren't issued until a long time after the property is built.  For example, on a big developement, many people may move into (say) phase 1 but LFO's aren't given until Phase 2 is ready.  I should imagine this would only happen on off plan properties.  If you insist on not completing unti the LFO is given, you may have a long wait.  We were in our place over 2 years before this subject was even brought up by the solicitors

Hi Tina

Appreciate the postings from the main site, we have had some personal advice from one of the mortgage experts from the main EOS site who has advised us also to wait for the LFO before completeing, but I don't fancy waiting for two years!! its frustrating as no one seems to know when this is going to happen its just a waiting game, however we have approached our lenders to see what our options are if this does not happen within the next six months, so will let you know when we receive a reply.

Julie