24 Jun 2010 12:00 AM:
We are due to complete tomorrow and the bank providing the mortgage has just informed us that the rate applicable for the first year has been increased as they don't want to lend to anybody at the moment and hope that this will deter applicants that have already been approved. I understand that Spain's banks are not regulated as they are in UK but surely their mortgage offer has some kind of legal obligation? I wonder if anyone has had experience of such an instance and whether there are any tips to try and persuade the bank not renege on their original offer.
The option of pulling out and looking for an alternative offer is complicated by the VAT increase next week so think they have us by the short and curlys but if anyone has any advice that would be greatrly appreciated. Would my solicitor (who I can't get hold of as usual) be able to exert presuure?
Thread:
Changes to terms and conditions of mortgage
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