Pitby,
Thanks for putting the link to developers mortgage in your post. It looks though as if Phase 3 has been financed by a totally different bank & so not all previous comments are relevant.
Womble,
We have rec'd a letter from Caixa Catalunya as well. Terms look competitive from a 1st read through, as long as the 0.95% + Euribor continues after the 1st 18m. Needs checking. Also need to ensure life insurance premiums are not loaded.
As mentioned in a number of other threads, you do not need to take the developers mortgage if you don't want to. If you do need to raise a mortgage though, your costs will initially be higher if you go with another Spanish lender using the Duquesa apartment as security.
I am involved in Commercial Banking in the UK & rates Caixa are quoting are cheaper than those currently charged by our subsiduary in Spain, so as long as no hidden extra's/surprises looks as if worth considering.
John 777