mortgage subrogation

 hi ,

i have been offered a subrogation on terreza from banco de valencia .they want it completed by next friday .Does anyone know much about this.   

                      thanks scott

Hello

Basically you would be taking over the mortgage that Polaris raised to build the property you are buying.  Look at the terms of the mortgage - is it interest only, what is the percentage rate, how long are they offering the mortgage for, what are the costs that are involved, what are their fees for this service?   Do you need a mortgage or want a mortgage - if so you should have done a comparison with an independent mortgage broker locally so you could compare the costs of subrogation or getting your own mortgage.  If you need some more information then please do contact me via PM.

Best wishes

Sandra

HI Scott,

we completed in August this year and were offered the subrogate mortgage through B. Valencia. They were fantastic and were so helpful - did everything and the process was really easy. We took their insurance out as well and all in all they offered a full friendly customer service you used to get in England 30 years ago. We have been constantly kept informed up to the day on the day and on completion also after, of bills going out etc and support. Maria is great and speaks good english.

Very pleased and the internet banking is easy to use which they go through with you on your visit to the bank if you want to, if not its easy enough to do without. Just be aware if you visit they close in Torre Pacheco at about 2pm.

Good Luck

 hi saladstar, 

thanks for the reply.did you have any problem on completion i have just over a week to get it sorted out as i was only told yesterday that they want completion next friday iv waited 5 years and now im starting to feel rushed lol is it possible to get a taxi everywhere or would it be to expensive thanks. 

scott

Scott

Terrazas is a little isolated. So if you have to do a lot of running around a taxi is a must. Car hire prices are not too bad a present especially if you are only over for 4-5 days. Try the internet  for competetive rates. I was iver last week for 5 days at got it for approx 70 euros and returning car with same petrol levels.

Supermarket was not open last week and the nearest one is at La Torre. That is about 10 euros taxi each way.

Good luck.

Hi Scott,

To be honest it was really stressful before we left the uk as it was very rushed from this end also bearing in mind you have waited. Polaris had informed our solicitor that we needed to complete 3 weeks earlier than we planned to, we had a visit for a 2 week holiday which we had advised our solicitor of beforehand. We stuck our heels in and we went when we planned, dont be bullied, our view was we waited 3 years with very little contact if they want there money and cant wait 3 weeks its a poor situation,  it all seemed very last minute. I was panicking about mortgage what was needed were Polaris going to get in touch was everything in place where to go what to do etc etc.

However saying that a good solicitor is a must - without ours I would of felt even more stressed. On the day we arrived for our 12 o'clock appointment, met our solicitor, she translated the documents checked all details with us, then we waited for the bank guys to arrive, Polaris people and the Notary. Bit dawnting lots of spainish (obvioulsy) lots of pointing everyone nodding to the right questions by the Notary. But all in all a very slick process, we were out with our deeds 2 and half hours.

As I say a good solicitor will take a lot of the weight and is a huge help, I cannot praise ours enough.

Yes definately hire a car.

Good luck

 hi,

i only got the go ahead for the mortgage on friday and they wont me there next. wednesday .its very stressful trying to get things together in such short notice.spoke to the lawyer today so i hope to get something sorted out.

cheers

Even though its stressful now. When you are all signed and walk around -sit down and see what you have achieved its a great feeling. Just keep that thought and planning your next visit to furnish and I am 100% sure you will have no regrets!!!!!!

For all the hassle its made us appreciate it even more.