28 Nov 2008 12:00 AM:

We ( the wife and I ) bought a parcel of land on a local urbanisation in 2002 , it had permission to build and we instructed a local builder with the project. Half way in the builder went skint and I assumed the job of project manager and with the help of the architect finished the job in 2004. In April 2005 we had the certificate on the "final de Obra"..

Life since then has been sweet however our circumstances have changed and we need to raise some cash against the value of the property. We dont currently have a mortgage and are looking to raise about 30% of the value of the property but as the property has never been added to the deeds for the plot things are going to be difficult I guess.

When I was building the house I was told ( by someone ) that after a period of four or four and a half years I could simply go to the local town hall and get the deeds amended to show the property , I could then get a LFO and would have a fully legalised property and should be able to speak to a lender about getting a loan.

Can any body confirm if this is remotely true ? If so what is the likely cost to get the deeds updated ? How long is it likely to take ? If not true what do I need to do to get the ball rolling and what are the cost implications.

Many thanks in advance.

Roger.

Thread: Questions for the wise....

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