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Need a mortgage ?

Discussion in 'Portugal Property' started by lena green, Sep 23, 2008.

  1. lena green

    lena green New Member

    I have been to three banks so far Popular Bank (my own), Banco Espirito Santo and Millenium Bank. It looks like the 'credit crunch' has arrived as all three advised me not to build as there are no buyers and to hold off for your loan as we are restricting loans.
    Portugal has a very blinkered attitude towards business of any type and are now cowering in the muck awaiting the financial sunshine to shine again.What they did`nt know and did'nt bother to ask is that from the 5 units I`m building three are already sold so funding is assured upon completion.
    On Saturday afternoon at the International Show in Lagoa, I bumped into Lloyds, (were'nt they once the listening bank).........no problems.
    If the local banks are closing their doors now to investment,they will find no one on the otherside when they eventually decide to open shop again.they will all be in Lloyds.
     
  2. Interesting information. Some of the larger institutions on the continent are still so archaic with regards to their "blinkered attituted to business" I agree.

    I was at an exhibition in London earlier this month and I was informed by a developer who is building a vast development in Costa Rica that he has just secured a multi-million dollar mortgage deal. They are out there if you look and have the necessary credentials.
    If you or anyone considering developing in the "credit crunch" climate (after all its not for ever!) and want the details of the guy please email me. From what I gathered he seemed very genuine and the process is painless

    james@off-plan.com
     
  3. lena green

    lena green New Member

    You said it James,its a mean old scene. We have Sir Richard Branson building here and Sven ********, my advice is that if you don`t have a milion to blow, stay away.................Portugal is scoring goals, bigtime.
     
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