I'm not getting a mortgage. Might do if one comes available later.

Some firms (one in SPAIN springs to mind) offer a supposed agreement in principle for some £500 up front. This rang alarm bells with me - by the time the mortgage lenders were ready to consider the properties the middle man could have long gone with lots of £500s!

Any broker promising such has to be a muppett as when I was approached vortually no planning permissions had been granted, no buildings existed and nothing a lender could possible hope to hangs its hat on.

In other words a scammmm me thinks

Imagine you are a Banker and you want a funding line approved by the board, you say

"errrrr members of the board, I want to offer agreements in principle for property that doesnt exist, has no planning permission (Saidia development last year), no concrete details of any kind, and unknown developers (Lejardindefleur)"

What do we think said Bank board would say?

I was told the mortgages were virtually guaranteed for LJDF projects 1 year ago - this is absolute nonsense.

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year