Costs involved in Selling

Expatica - Health
Post reply   Start new thread
New - Old :: Old - New

Pages: 1 |

Duquesa Village forum threads
The Comments
12 Sep 2007 12:00 AM by SIMONE12 Star rating in DEVON. 23 forum posts Send private message

Hi i have an apartment in Block 21 just wandering if anyone had any news on the completion date, was Sept!  Also has any one any advice on intrest only morgages in Spain? Can they be done through the Developer? Any reccomendations gladly received.


Like 0

Spam post or Abuse? Please let us know

12 Sep 2007 4:48 PM by slacey99 Star rating in Dorset and Duquesa w.... 276 forum posts Send private message

EOS Supporter
slacey99´s avatar
Have a look at this existing thread for some information on mortgages etc

http://www.eyeonspain.com/Secure/MsgBrdsPosts.aspx?thread=5277&dev=D1&name=Duquesa%20Village

Steve


Like 0

Spam post or Abuse? Please let us know

12 Sep 2007 7:59 PM by mimmie Star rating. 145 forum posts Send private message

Hi Simone

Please get in touch with "smiley" on this forum - Patrick Robinson of Marbella Mortgages.  We have found him to be extremely helpful with interest only morgage -  We could not have done it without him!!

 

Regards Mimmie

 

 




Like 0

Spam post or Abuse? Please let us know

12 Sep 2007 8:22 PM by PMillsom Star rating in Midlands. 469 forum posts Send private message

PMillsom´s avatar

With regards to the alarm system the RfY brochure for DV  clearly states

" pre-installation for alarm system". 

 Does anyone know what this pre-installation comprises and how it might be connected? 




Like 0

Spam post or Abuse? Please let us know

12 Sep 2007 10:07 PM by John 777 Star rating in West Midlands. 109 forum posts Send private message

Simone,

I think you will find that the builders Bank will write to you with what they can offer, once Ros & Falcon have advised them that block is nearing completion. We had a letter from Caixa Catalunya a couple of months ago, but we are in block 17, which I think is a little closer to completion.

Rates were competitive & worth looking at in competion with what Smiley or other brokers might be able to obtain for you.  

John 777




Like 0

Spam post or Abuse? Please let us know

12 Sep 2007 10:49 PM by ads Star rating. 4134 forum posts Send private message

Re the developer's mortgage, has anyone been able to negotiate the flexibility for partial redemption if/when required without incurring penalties, plus the requirement to exclude life insurance from the mortgage conditions (due to Spanish IHT implications)?

Re the completion date for Block 21 we had been advised from our agents that the revised completion date  was "end of this year", however we have yet to be informed of this by our lawyers.


Like 0

Spam post or Abuse? Please let us know

13 Sep 2007 11:04 AM by JC1 Star rating in Manchester and La Du.... 963 forum posts Send private message

JC1´s avatar
I negotiated a variation on term length on the mortgage and know from personal experience BA charge 0.5% for any additional payments outside the contracted repayments.

_______________________

Regards

 John

 


 

 



Like 0

Spam post or Abuse? Please let us know

13 Sep 2007 12:28 PM by PMillsom Star rating in Midlands. 469 forum posts Send private message

PMillsom´s avatar
"the requirement to exclude life insurance from the mortgage conditions"  ??????

I have taken on the developers mortgage in April 2007  (representing about 60% of the sale value)  and at no point was Life Insurance mentioned.

Maybe this is a requirement?


Like 0

Spam post or Abuse? Please let us know

13 Sep 2007 12:59 PM by PMillsom Star rating in Midlands. 469 forum posts Send private message

PMillsom´s avatar
Ops.  My last sentence in  the post  below was meant to read....

Maybe this is a new requirement.


Like 0

Spam post or Abuse? Please let us know

13 Sep 2007 2:06 PM by John 777 Star rating in West Midlands. 109 forum posts Send private message

The builders mortgage on Phase 3 is with a different bank to that used on earlier phases, certainly on block 17 it is Caixa Catalunya based in Estapona.

Life insurance is listed in their conditions, but they were ready to drop this when I challenged. I think as long as you can justify why you don't need it, they will negotiate. At the end of the day they are looking at how debt would be serviced should anything happen to you.

They were also happy to offer an initial Interest only period as well, which is not mentioned in the original letter they send out. Basically if you are interested in their mortgage negotiate with them to tailor the mortgage to best suit your own needs.

One point that they might be a little stricker on, is that they look for combined repayment of any UK mortgage + your Spanish mortgage to be no more than 40% of income.

John




Like 0

Spam post or Abuse? Please let us know

14 Sep 2007 3:11 PM by ads Star rating. 4134 forum posts Send private message

Thanks to everyone for their input........is that 40% of nett income or gross income John?


Like 0

Spam post or Abuse? Please let us know

15 Sep 2007 7:48 PM by John 777 Star rating in West Midlands. 109 forum posts Send private message

Not sure where I picked up the 40% figure from, I think it must have been when talking to the Bank or a friend that I know has used them. Its not mentioned in the original letter I rec'd & can't see a comment on their website either. Therefore can't be sure if it's gross or net income.

The web site, which is in English is worth looking at though www.caixacatalunya.es

Tel No. for the Estepona Branch is 00 34 (9)52897754

John




Like 0

Spam post or Abuse? Please let us know

Pages: 1 |
Post reply   Start new thread


Previous Threads

Please I need some advice! - 0 posts
Boletins - 22 posts
Empployment Offers - 4 posts
Footie in Montesinos - 5 posts
Community blogspot/website - 0 posts
Manilva Beach Phase 3 - 1 posts
state school in san miguel - 1 posts
Insurance for age group 65+ travellers (Very interesting information) - 7 posts
CLEANERS - 3 posts
Corvera Golf resort Murcia - 1 posts
the diamond ex catering - 3 posts
The north... - 1 posts
advice please? installing sky dishes - 11 posts
Short/long term rental in Marbella - 4 posts
Erasmusplus Spanish courses in Spain with grants! - 18 posts
Acquiring a mortgage. - 21 posts
Santiago De La Ribera - 1 posts
Can you get a Spanish 'Buy To Let' Mortgage??? - 1 posts
WEALTH TAX, LATEST INFO ( article was written 16th June 2008), - 5 posts
Ground Floor 3 bed apartment for long term rent available from Mid-Sep 07 - 0 posts
Car hire at Malaga Airport- full tank/full tank! - 7 posts
BMI Baby Baggage - 1 posts
Will there be a commercial centre at top of hill at roundabout? - 7 posts
Breach Of Contact - 2 posts
Breach Of Contact - 1 posts

12 posts were found:


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x