Anyone heard of broker "Spanish Mortgage Alliance"?

sponge_3

Hi there, does anyone heard of Spanish Mortgage Alliance or Moroccan Mortgage Alliance? It is a Spain based mortgage broker specialise in Spain and Morocco mortgages. We paid them the initial fee to start off our Morocco mortgage but we didn't hear from them since a month ago. We tried to call but its phone is no longer valid. Any info would be appreciated.

happybroker

I haven't heard of them but there website is still up and running. I would always be wary of any one who asks for money up front 500 euro they seem to ask for which then is deducted from their final fee! How much is the final fee for goodness sake.

The property market in the area of spain they are based is in chaos at the moment and perhaps they are a victim of this I don't know.

The Mail on Sunday has a financial watchdog person, I can't remeber his name, why don't you email him and see if you get any news that way.

Conrad

Sponge

I openly critiscised this firm on another forum a while back as I suspected they would take fees and not necessarily deliver anything.

I too am buying in Morocco, a villa in Saidia where Rio Ferdinand has purchased 7 (was in the Mail at the weekend).

If you are buying off plan, I think it's pointless thinking about a mortgage until at least some of the stock is built as the lenders wont have any real handle on the security the asset represents, espescially in these uncertain financial see's.