Re: Re: Costa nightmare could cost us our UK home…

#104742
ozmunky
Participant

@charlie wrote:

@shakeel wrote:

How they can have £250K on a property of £90k

I suspect they kept having it re-valued over the years to enable them to borrow more. Then the bubble went pop.
Apparantly one house similar to theirs in the same road recently sold for £263,000 so their estimation of £300,000 is over-optimistic. Which is something the banco probably found out if indeed they have cooled their heels. £13,000 would hardly be worth the hastle after the Halifax took their bit.

@jonas wrote:

I don’t think anyone should be to quick to judge though

With respect jonas, borrowing nearly £400,000 in any circumstances in my view is close to insanity unless you’re way up the salary/other assets scale. And what if one of them had lost their job? Whinge to the press again?

Actually, this story is less to do with the Spanish Costas and more to do with their recklessness. They would be in the same financial boat if they had bought an appartment in Devon instead of Spain. They’ve simply over-extended themselves and are now whingeing. They can’t blame Spain for their predicament. I personally don’t have a problem with the concept of the EEO.

And no, Mrs. Chatterton, you are NOT like those of us caught up in the ‘Costas nightmare’ who paid money for a property that a) was never built, b) is deemed illegal or c) is demolished without compensation. That is the ‘Costas nightmare’, your nightmare was self-made.

Wiltshire MEP Ashley Fox said: ‘To me this is against the laws of natural justice. I shall be writing to the Commission to ask that they investigate.’
Investigate what? You don’t like the EEO then did you lobby against it when it was proposed? All a bit late now to act in a humph.
I’ll tell you what is “against the laws of natural justice”. People being screwed out of their life savings in Spain through no fault of their own. Get your priorities right and spend some time on behalf of these people if you really want to make a name for yourself.

Yes, exactly.

If they were correctly investigated and if charges were brought (which is highly likely in a proper country, but not Spain) against them and those who colluded, this would be a major turning point.