Bank "Ha Ha" Mortgae offer !

Morning

Anyone else received by e/mail today this offer ex Bancaja  - I guess they need to shift all the Polaris properties they own now off its balance sheet !!!!

Buy a "designated home" with a bankcaja mortage and get 3 years totally FREE of all payments - no setup costs - no repayments  - NOTHING - cant say they are not looking to kick start the market- might buy another one and pray for an upturn in the market then re-sell before the costs kick in !

The Bancaja 2010 Housing Commitment
has only just got going

Additional new properties are constantly being made available, so make sure you don't miss out.

And we are offering incredible finance terms meaning you can buy a house today and move in without making any mortgage payments to Bancaja for 3 years.

The Bancaja Housing Commitment 2010 financing is exclusive to individual customers who buy a property linked to the Commitment. The property, garage or storage room must be for personal use.

This financing means that you will pay no capital or interest during three years. You will not pay opening or assessment fees either. The interest does not accrue during the first three years, but you begin to pay in the fourth year as if you had bought the property at that moment.

  General Financial Conditions exclusive for purchase of our properties included in the Bancaja Housing Commitment 2010

• Up to 80% of the purchase price as long as it´s lower than 80% of property valuation.
• Up to 50 year term (as long as the youngest applicant does not reach 80 years old at the end of the term)
• All the properties, parking spots and storage rooms are included on BhS and into our BHC2010.
• Our promotions have been identify when they include a financing of 0% interest rate or a mortgage discount..

• No payments due first 3 years
• Interest rate first 3 years: 0%
• No openning fee commision.

·         Interest rate after the first 3 years: Euribor + 1,30%.

 ***Please contact us for more details!

If this is true then some people could really fill their boots. I´m almost tempted myself. Sounds too good to be true!

There are some very good deals around at the moment....although the finance deal offered here does include a 20% deposit.

We are just in the process of completing on a 3 bed apartment on CDA and obtained 100% financing (providing us the opportunity of negligible capital tied up and at risk) along with a 2 year interest only deal at 2% then 25 years at Euribor + 0.5% to follow the interest only period. When I mentioned this deal to a mortgage broker that I'd been liaising with he said it sounded too good to be true....apparently not as we got the Finance offer through a couple of weeks ago. Admittedly not 0% for 3 years but pretty good all the same.

So there definately are some deals out there that may help to kick start the property market.

Snorky, 'Bank Ha Ha' - that's just brilliant - nice one - cheers