20 May 2012 4:44 PM:
Thanks again for the info.
From what you have said I guess the banks are not that accommodating. If the euro continues its rise I may remortgage in the UK and see if the bank will waive its early redemption fee I am sure this is more likely something they would consider.
Regards
Dean
Thread: Switching our Spanish mortgage to a British one
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19 May 2012 6:09 PM:
Thanks for the reply Patrick
The figures quoted were probably a bit optimistic, but what I was getting at, is it likely you could negotiate with the bank in this way. Obvioulsy I am not upto how the banks are working in Spain at the moment but from my point of view I would of thought it would make sense all round, with the bank receiving the majority of their funds.
Regards
Dean
Thread: Switching our Spanish mortgage to a British one
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19 May 2012 11:21 AM:
Hi all
Just picked up on this thread and it is something I have been thinking about. However what I was contemplating doing was to actually make an offer to the bank to settle the mortgage by using a UK remortgage on our property. By this I mean if the current mortgage debt was 200,000 euros make an offer of 150,000 euros, does anyone know if this is feasible, any info would be appreciated.
Regards
Dean
Thread: Switching our Spanish mortgage to a British one
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31 Aug 2007 5:42 PM:
Hi Karen
I have registered my discontent with the president who passed this on to the administrator so they are aware of owners feelings. The agm was on 18th April where the budget was set and the contracts were signed for by the president, but I'm almost certain the contracts were in place with no input from the president. The reason I say this is because the president and his wife didn't move out there till March and he wasn't voted to be president till the agm when the contracts and budget were presented. My assumption is that after being voted president he was presented with all the documentation to sign and duly obliged not really understanding what he was doing and probably not realising the implications regarding the legal side of matters. It seems that this happens to many new communities at the beginning, until the owners realise and then get acquainted with how things work, which from what I have read is usually a year down the line.
Dean
Thread: How does a Community Work?
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30 Aug 2007 6:46 PM:
Thanks all for the info. I am very friendly with president and his wife who have moved from the UK to live in Spain, but I suspect when he was voted as president due to the fact he was going to be resident he didn't realise the full implications of it. Then obviously the owners who were present at the meeting were asked to vote on the budget without having much chance to scrutinise the figures. The president himself has said he was expecting it to be half of what was announced and up to now seems determined to get it to that. The developer as of now only holds approx 6 units out of the 42 so if we were to call an EGM I don't think their votes would affect much now. On another point I do not know if the developer has contributed towards the community costs for the units they have held, if they are liable to some charge then I could inform the president and try set the wheels in motion to recoup some the money if they haven't paid.
Keep the info coming, its very useful when you are trying to understand the system and how it works.
Dean
Thread: How does a Community Work?
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