Hallo

Well. I'm a fully paid up ME23 owner with a fully furnished ground floor apartment and haven't seen any rental contract, let alone an enquiry...Easter or no.

I do know of 1 ME 23 owner who's been sent one... but not us?? we were there for a week a month ago and it was a ghost town [only to be expected as it was pouring] and if counting curtains was anything to go by, there can't be more than 40 apartments ready for occupancy.

I think Easter in Spain is always popular with the Spanish, so any local owners may well have been around, and Peninsula probably want apartments for inspection visits, as I know people have been and accommodated on site, but not in their own incomplete flat.

Well ours is ready and available if you want to check out your own investment. Just PM me

I visited Medina 23 this weekend, and met with Steve whom was very helpful, over easter Peninsula tested the rental market on some of the units with a local agent, and the rentals seemed to take off with over 20 bookings being taken in a very short space of time. The reason why there was not more rentals was due to the lack of furniture in other units. I thought this was quite promising.

I went over to check on my unit, which peninsula have now redecorated, and sorted out the render externally.

Landscaping was being undertaken on fairways, and I have been told by Steve that they are landscaping the area at the back of the site.

All lifts / intercoms / and gates are now fully operational.

There was a handful of people at Medina 23 at the weekend.

I believe the rental contracts are 95% complete and will be being issued shortly, I think the market test which peninsula did satisfied them that good occupancy could be achieved.

Also the banks are now looking to release the funds to allow them to start on the next build on Medina 23, so hopefuly things will now start progressing.

As soon as more people start to complete we will finally get a community withour own management responsibilities and will get the development which we envisaged when we initially started the venture.

Well... after emailing just about everyone at Peninsula, including Gaspar, I got my contract. Duely filled in and returned with payments and aircon payments. Supposed to kick in at the endof May. Variable for 6 months [presumably to give them time to consolidate, get Holiday industry inspection and accreditation sorted out] followed by guarenteed rental 4% + VAT [in effect almost 5%] - it's been furnished and ready to go since last June.

Here's hoping!

By the way, does anyone know whos appartments they were renting over Easter? Because no one enquired of us and it's all up and ready to go

SJH, are Peninsula saying you keep the 4% plus the VAT.  I'm no expert but it seems strange about keeping the VAT element, does anyone knows how this works in practice? Also, I have never, knowingly anyway, paid VAT on an apartment rental and if was looking to book a holiday would think twice about paying for somewhere with a VAT charge when there are plenty that don't charge. 

And what are the new terms of the Variable and Guaranteed Rental schemes?

When do you get paid and what is deducted?

Is the Guaranteed Rental Scheme underwritten by an insurance company that will pay out in any circumstance, including the failure of Peninsula to pay you the Guaranteed Rental payments should they default. Because without this, it's NOT a GUARANTEED rental scheme.

Please let me know because I've given up asking Peninsula.

Gaz 9194

Nice to have someone else positive here telling us all to complete.  SJH said that cleaning was charged at 85 euro a week, at 4% yeild and including management fees and taxes that will leave one bed owners with a paultry 48 euro a month to pay the mortgage.

NICE.

did anyone miraculously attend the summons date to sign title deeds on fairways which would have passed by the time you received letter? was this on purpose?

also heard nothing on developers mortgage which originally applied for or rental agreements- so how can anyone if they wanted to complete sign titles without this information. surely someone has received mortgage offers and specifics on rentals. sounds like terms are different and less advantageous  than original so surely this is yet another breach.

to complete at this stage looks like just hope beyond reason.

hi

i am trying to get our deposit of 30% back from Medina Golf. It looks as if its not going anywhere.Our current spanish lawyers are pretty useless , and i speak pretty fluent spanish, and can tell you some of the lawyers are in bed with either the promoters or the development agency - so be careful who you trust. They wanted about 4000 euros (in addition to whatwas already paid) to start a case to recover the money - i stated we would give them 6000 euros if they succeeded in getting the money back.

Can i ask what other people are doing with Medina Golf ? Has anyone got their deposit back ?

you can contact me on +447809676542 or email me on iftyk_1 "at" hotmail "dot" com

thanks

ifty

I have now got all my deposit back + sum interest (Fairways) i issued legal procceddings against the bank guarantee last year and settled before going to court 3 weeks ago i recieved my cheque last week.

Just make sure you got a good solicitor and keep pushing them it cost me around 5000.00euros but well worth it

Congratulations!!!  Mine is still being processed, or so I am told.  Its been three weeks of "its on its way"....

Hi MERCEDES

Congrats on getting an end to this sorry mess, Would you mind telling me the name and contact details of the solicitor you used, We are using a firm called manzanares and are finding them useless.

Regards

Paul (medina golf)

Thought this might interest some of you... received today, any  takers?

Dear Fellow Investors,
 

WOW, i wish I could have bought in that place - it sounds awesome, living the dream for real eh.  Oh well, I guess we'll have to settle for Medina Elvira and Peninsula eh.

I'll have all 5!!!

I new you guys couldn't resist a bargain!

Well done Mercedes, great news.

Has anyone had any luck in getting the deposit back on medina golf.

if i get me deposit back i might buy one of those fantastic sounding investments!!

donefor

Hi Mercedes,

Congrats on getting your money back.  Can you tell me if  your bank guarantee provided by ACC Seguros?  I am in the process of trying to enforce my bank guarantee, but I am waiting for a court date.  It would be encouraging to hear that they occasionally honour their commitments!

Regards

Donal79

Hi All,

Just wanted to say that after filing our contract cancellation claim on our purchase in Suites last April (when it was meant to have been completed) we have recently received our deposit back. We are still waiting for our legal fees, and settled out of court so have missed out on receiving the 6% interest. However - as Suites was guaranteed by Cajasur (who have just been bailed out by the Bank of Spain) , we are ecstatic -  we honestly didn't think we'd ever see any of our money again. 

For those of you who have started this process and are unhappy with progress through your solicitors - I can highly recommend Maria and her team at CostaLuz lawyers, who have secured us this result.

Good luck to you all.

C

Good for you - I bet that you are really relieved  and well done Maria.  I have been a bit critical in the past but see this as a good result all round - well done and enjoy your freedom!!!

Wey hey!  I have my deposit (plus interest less lots of lawyers fees less extortionate Spanish bank charges) back on Fairways!  Thanks to all have posted on this forum, it has made the difference between me getting my money back or being pulled down with Peninsula's sinking ship.  Good luck to those of you still in this or trying to get your money back.  Cheers, PL.

One small tip, the refund is in the form of a cheque, so you will need a Spanish bank account with telephone / internet banking in place to be able to bank the cheque and move the funds.