Re: off-plan



I think the main difference between buying off-plan in the UK compared to say Spain and other countries is that in the UK you only have to put down a maximum 10% deposit to exchange contracts and in Spain you have to make stage payments which finances the build.

This means that generally the UK developers are more financially ‘stable’, (unlikely to go bust or cause problems during construction), whereas we all know that many Spanish off-plans are ‘cobbled’ together by individuals who become the ‘promoters’ and use plain old builders, so more chance of problems and going bust. There are some large companies though, but even these seem to be more problematical.

Some Spanish developments are switching to the UK system probably due to the sluggish market, so refuse any off-plans with stage payments in Spain, walk away from them, they are only loaded in favour of the agent, developer, and lawyer (the incestuous triangle!)