I am in the process of purchasing property in the Algarve which was advertised by a reputable estate agent. I saw the property approximately 18 months ago, paid the 10% deposit across to my lawyer, arranged for POA and was told completion would be secured by the end of June 2007 in accordance with the promissory note. I am still waiting for completion! It would appear that a habitation license has not been issued by the local council. Although the property was built pre-1951 some renovations were made to the property in the 1980's and I understand that although planning consent was agreed, the council never issued the appropriate license. Things have gone from bad to worse since...... I understand the council are currently refusing to issue the habitation license since the renovations undertaken in the 1980's do not conform to the originals plans. New plans have been drawn up and now submitted and hopefully the license will be granted. I am still keen to purchase the property, it is a gem, however I am not quite sure of what the legal position is? Technically, am I still obliged to purchase? Should the property have been advertised without someone at least previously confirming that the habitation license was in place? I have asked these questions directly to my legal representative but keep being bamboozled with technical jargon! Scotty
Given that things are becoming increasingly difficult for everyone financially, we though it would be a good idea to start this thread for people to share tips and ideas for ways to save money. Does anyone have an tried-and-tested methods they would care to share?
For those who are interested and need to move money from the UK to Portugal, I just used a company from London who have recently set up an office out here. They were able to fix the rates for me on a property we are buying and i was given a really good exchange rate after shopping around. I saw their advertisement in the Resident newspaper and gave them a call. The girl was really helpful getting me registered with them. Seems to me that as they are new, they are going out of their way to give better deals. You can look at their site at: www.fcexchange.co.uk
I wonder if anyone can advise me here? I have a UK credit card which I pay monthly in sterling. To do this I need to transfer money from my Portuguese bank to my English bank every month, which they charge me for. I've been to a couple of banks here and asked about 0% balance transfers, so that I can pay each month in euros. But they don't appear to know what that is! I've researched online and the only credit card that operates in euros is American Express and I don't earn enough to apply for that. I hope that all made sense. Any ideas??