He says,she says.........it's rumours and Chinese whispers such as these that caused the run on Northern rock and it's subsequent fall into bankruptcy.
If at this stage and in the present economic climate, everyone decided to cancel, they could force the builder into bankruptcy. There are no winners in that situation.
If bankruptcy did happen then those who have decided to cancel and are awaiting return of their funds will be in a very precarious position. Unlike those who still have their contract in force they will have no preferential rights against any assets the company has. I.e., the completed development.
At this late stage and in my opinion, those who already have claims in the pipeline should wait until completions take place before forcing further action. This way, at least you will know the bank has the funds to settle them.
The only way, in the present climate, that Banco Pastor can recoup the money it advanced for the building of 'La Condesa' is to ensure that completion takes place on the units for which they hold deposits. No longer are there queues of buyers waiting to snap them up, it is the only way (that I can see) they will get their money.
Incidentally, a developers mortgage was/is available through Banco Pastor. My lawyer sent an email last year asking if I was interested. Wether or not it's still on offer I do not know, but it's worth enquiring, and it would be in their interest to offer one.
Gill, I know ,has engaged an independent solicitor. She has been trying for some time, as she states in her post, to get a refund of her money via the courts. If the economic climate had been different i.e., no property slump or corruption trials and overbuilding etc.,, I am perfectly sure they would have paid Gill just to get her off their backs, that is how tenacious she has been in her attempt.
smd have not communicated with us directly and yes, by UK standards, their communication, business, consumer rights and customer service methods are the pits, but 'Lourdes' has always answered my queries eventually and recently she has been very quick to reply.
Regarding the photographs on smds' website. I would not call once per week, and ,just recently fortnightly , 'OCCASIONAL'. That really would be a gross exaggeration and not the case.
As for the issue of the FLO. I read about one development in the Mijas Town hall jurisdiction which has just been issued with its' FLO after waiting 15 months.
In the meantime we will have to wait.
p.s. Gill the fencing is steel with high grade plastic coating and you will see that hedging has been planted all along it's length. The same stuff has been installed around the perimeter of our local high school and is very strong. I looked up the makers' website to see the specification. Just my opinion, but I think that once the hedge has grown it will be much more attractive than a rendered wall. My only concern was.'Is it high enough?;