Bank Guarantee

[billy]

Just curious if anyone has exercised their bank guarantee option on this develpoment. If so how have they fared out

Billy

[Anonymous]

Hey Billy,

we just completed on our Bank Guarantee. It took several months but got there in the end. Interest was included in the refunded amount which covered the legal fees and converting to stg gave a small profit.

Could not pass up the opportuinity to get a refund once the delivery date had slipped and the property price spiral had kicked in.

Have you exercised yours ?

PTN

[dunfirth]

Hi

Just interested in which bank handled your bank guarantee, mine is not due up until October '09, and I just wondered how you went about getting your money back.

Best wishes,
Gerry

[Anonymous]

Hi Gerry

it was held with Solbank. They seem to have been decent enough to dish out the cash. Seems from other posters that other banks are not as willing.

Basically I asked the Solicitor to execute the BG. I had to pay everything that was owed as detailed on the BG - leap of faith.

Luckily it worked out for us .. after a few sleepless nights

PTN

[billy]

Hi all,

I'm looking to know if anyone had a bank guarantee with Caja Duero (Bank) which they have sucessfully exercised.

Appreciate any information

Billy