barking dog

 Anyone else feel saddened at the fall of the euro. Yet another stress with purchasing Calas del Pinar

Will we ever get some good luck

Please respond

Carole

It is reportedly going to get worse before it gets better! I did hear rumours from the banking world that the pound euro exchange rate might even get to 1:1 (I certainly hope not).

If only we had taken the decision to join the Euro when we had the chance.

Perhaps an option for all you who will be completing in June this year would be to keep your lump sum pounds in the UK for a while and take out a Spanish mortgage to pay the balance. I know it would cost more initially as you would be repaying each month (effectively) in pounds, but you would then be able to watch the exchange rate and pay off the mortgage with your UK pounds when the time was right.

Correct me if I'm wrong - but it may be worth considering rather than paying upwards of 10% more for your property.

Hi Stuart

Thanks for the thought and we have been thinking about a spanish morgage now at this late date - it is a gamble whatever isn't it not knowing what the euro will do in 3- 12 months time.

Do you know anything about withholding 5 % of funds for up to 6 months after completion if snagging work has not been done to required standard. Eye on Spain said you could do this but our lawyer says not!! just thought i would ask.

Snagging stage is approaching - not really looking forward to this even

Thanks for your support

Carole

Hi,

You could do a mortgage in another currency, like japanese yen,to avoid the euro/pund exchange rate.

I´m wondering this option because the interest rate is lower than Spain and I live here so the pound exchange rate is not a problem.

If you need more information send me a private message a I´ll keep in contact with a friend of mine who is helping me in this issue, he speaks fluent english.

Regards

Hi All

What really gets me in all of this if CDP had finished on the date I was originally given every thing would have been OK, but now we have been given a March 09 finish date (phase 7) and by the current situation with the € we will approx be 20K out of pocket and CDP attitude to this in my opinion was not good, I also believe the current situation with the € will not improve