new 107% finance, no deposits

Hi there,

does anybody know how the 107% FINANCE works?, seems amazing and properties look stunning. I believe all the taxes are included in the finance, so there no deposit is needed?.
   
solicitors?, all information given would be great!!

Hey, we're going to spain in late January to sign the contract on either a villa or apartment in Mojon Hills with 107% finance and no deposit. Can tell you later how it goes. :)

 Hi,

We have completed on a Phase 4B apartment for ourselves and also we have sold one unit to a relative of ours, the guys from Blue Med give extra 3,000 € as "finders fee".

Completion when through without a single problem, the mortgage is to include sales price and taxes, we only had to pay for our life insurance and little more.

No doubt we are pushing these properties to our friends.

Hi,

We have just paid the deposit for a house in Phase 3b. I have not heard that they paid a "finders fee" I will definitely be recommending it to friends. I already have two friends who are also interested in an apartment there. Where have you heard about the finders fee? how do I go ahead with it? 

 *I ment 3V not B!

Hi May,

the guys from Blue Med are doing this, send them an email to info-bluemedinvest-com or to Julio, he is the owner I believe?¿?¿ julioadams-bluemedinvest-com. What property have you purchased?¿?, phase 3B I believe are the Terracota opposite phase 4B¿?¿?.  We are going out in Feb  with more friends, see you then!

 Hi bestagent

Thanks I will send them a email. We have made an reservation on villa nr.1 phase 3V. 

:-)

Buying property with a 107% mortgage is absolute madness.  I can't believe anyone is doing it in this climate. They can't give away property in some parts of Spain.  It will be impossible to build up any equity for many many years and there's huge competition for holidaymakers.  I hope everyone contemplating this is doing plenty of homework!

 Congrats Maypand!!, we only needed 2 bath but villas are great choice.

Dear LuckyCat, 107% finance has worked fine for us and for loads of people on this site, we can enjoy the property with very low cash needed and the mortgage is only 6K per year for our apartmen, communal charges of 20€/ month,  enjoy spanish lifestyle for so little is a great chance for people like us.

with Paramount coming to Murcia  (only 10 minute from us) & New International airport 15 min away, what area you think is better than this?, Costa del Sol...?¿?.

Enjoy the sun like we do and take it easy!

I quite like the Northern Costa Blanca, Javea/Denia/Moraira but it's personal choice.  There are lots of nice areas in Spain, very hard to choose!  I've probably lived long enough to see what happens when interest rates start to climb and people struggle to pay mortgages.  I'm lucky in that I wouldn't need to borrow but I'm probably going to go for long term rental as that leaves the maintenance, property taxes, insurance and income tax to the landlord.  I've also spent many years living in different parts of the world and am a bit fed up with dealing with bureaurocrats in a foreign language!  Do you live down there or have you bought a holiday home?

Luckycat,

no, we live in Birmingham (planning to move to Spain SHORTLY )

 Hi  there! We bought a penthouse in maj 2011. We did not get the offer to buy with 107% so we had  to pay the taxes and other fees . I  would say its a fantastic  oppurtunity to  buy  now. We love our penthouse and are  looking forward to the opening of the new  airport and Paramount world. Mojon hills and Isla Plana is in my opinion a fantastic place to live in.We are working in Sweden and have  bought the penthouse to live in the cold months of the year when we dont have to work anymore. It is ten years from   now so until then we have planned to pay of the penthouse.And of course use it as a  holidayhome.  BlueMedInvest have been very professional and friendly  and  helped us all the way by buying the property.I  really think you can trust them. Best regards /Rohanna