Advise please

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    I have a chance to buy an apartment in the centre of Malaga. The seller is a private small property company.

    1) The current mortgage on the apartment is €35K as per the vendor’s ( Selling price €135k ) THe questions are

    a) Assuming that a subrogacion can be done. Am I right is assuming that it cannot be more than €35k, i.e. if I want to borrow more than I should forget the subrogacion.

    b) As the property is not in the hands of the Bank. The Bank does not have to lend me the amount in order to get rid of a non performing loan of their books.

    c) Is it worth applying for a mortgage at all. Considering my financial affairs are complex and even the glory days of credit binge the Banks could not or did not understood my paper work.

    2) The aprtment is in a building that has been restored top to bottem. In this situation would it be a new building or a second hand one i.e. VAT 4% or not ???

    Many thanks

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