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01 Oct 2010 12:00 AM by Rollo Star rating. 9 posts Send private message

Following my earlier posts re Roda Golf and 'Lost the Lot', I drove down there with a dire old Transit and emptied the almost  a quarter of a million pound apartment, and drove back. Trip was fairly boring, but what a joy! Sent the keys back to the outrageous, overcharging bank with a letter to the branch and another to the head office. I did not play their imbecilic games with Dation el Pago because it would have cost many more thousands, firstly enriching the solicitors and then a Notary, (1% to start) followed by an endless court case with attendant delays and yet more sky-high charges. Two years was mentioned as normal!. In the meantime mortgage repayments would have been suspended, but not the crazy Communidad charges (£1500 pa), the new 'entity' costs (£500) plus a new 'council tax'  (?)and all the  utilities. What'll happen now I neither know nor care, but I'm not paying them another cent. So it joins the million or so other unwanted and uneconomical properties standing empty all over Spain, not to mention all the unsold second-hand  property for sale everywhere which has ALL lost about 40% apparently. If you want a holiday in Spain, and believe me there are very many better destinations, stay in a 5 star hotel,- it'll be miles cheaper than owning a fancy apartment on a usually almost empty golf course. The whole place is virtually deserted for 8-9 months a year.  I reckon I've lost about £60,000 but I've put a smile on the face of MRI and Roda's owners, and now at last I'm free!!!!!!!!!!!!!!!!!!!!!!!!!!!, home, close to broke but happy because the cash haemorrage has ended thank F. Rollo





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01 Oct 2010 7:17 PM by jayne123 Star rating. 24 posts Send private message

Safe to say you had a bad experience then?





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02 Oct 2010 11:49 AM by EOS Team Star rating in In Spain of course!. 4015 posts Send private message

EOS Team´s avatar

 Rollo, I'm actually very happy for you.  I bet you feel a huge weight has been lifted from your shoulders.  

Keep smiling.

Justin



_______________________

Schools in Spain Guide | The Expat Files | Learn Spanish | Earn a living in Spain




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02 Oct 2010 11:58 AM by Faro Star rating in London. 1139 posts Send private message

Rollo

You've done the right thing and if you have to fight them do it on your turf.

But I would offer to cooperate with bank in signing back property but they pay all costs and sign an agreement releasing you form all debt etc. It makes their life somehat easier in being able to re-sell your property.





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