help!!

hi all

we are looking for any information if anyone can help.

we have bought on laguna green (introduced by selectia) and have been emailing the lawyer they passed our details on to.

as far as we were concerned we were going out next week to sort out our mortgage that he was arranging for us, but have just been told

there has been lots of changes.

the fees have went up by 4000€

he doesnt normally deal with mortgages but is doing it as a favour so has only one banks quote

they are only going to give us 60% now, supposedly this is normal now too, when we were originally told 70%

can anyone shed any light on all these changes and even recommend a bank or even give us advice on what you have done

thanks so much as we are now running short on time

lynn30

Hello Lynn

                      Well, in relation with the 60% it is possible that the bank has change thier mind. This is happening even with mortgages for residents and spaniards. In any case there are sitll banks and savings banks keeping the level in 70%. Think that it will mainly depend on the financial informtion about yourself that is provided.

                      About the aditional 4000 euros, there is no base for that. Nor notarial fees, taxes or costs have changed  in order to justify any increase in trhe figures you could be given.

                     Hope this is useful for you.

hi Lynn,

I think freya is right,the banks are renowned for changing their minds at the moment,they are all panicking and drawing in the purse strings because of the impending doom coming from their colleagues in the US and UK.

In saying that you should still be able to get a LTV of 70% from most banks depending on your financial circumstances.

Ask the lawyer for the breakdown of costs to see where the increase has come from,he is legally obliged to issue you with a breakdown of costs so you are not asking for anything out of the ordinary.

You do realise they you dont necesarily need anyone to arrange a mortgage for you,pick 3 banks you feel comfortable with and have a good level of staff that speak your language and sit and discusss your requirements.

They will give you an AIP there and then and then all you will have to do is provide the relevant documentation,p60,pay slips or accounts,bank statements and maybe experian report(many banks are asking for these now).

Hope this helps

Georgia