Euro Weekly News - Axarquia 18 - 24 July 2019 Issue 1776

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Update on food, drink, entertainments, what’s on and weekly happenings SOCIAL SCENE 30 to read more visit 27 June - 3 July 2019 www.euroweeklynews.com CELEBRITIES SEVILLA: Travel spot for South Korean celebs. FORMER 2017 Love Island contestant Olivia Attwood and Bradley Dack were in Marbella last week as guests of honour attending a footballer friend’s wedding in Marbella. Attwood, 28, confesses she and Blackburn Rovers star Bradley Dack, 25, have considered marriage saying: “He’s my best friend and it’s just easy. This is my most serious relationship. We’ve both sowed our wild oats and know what we want. We’ve lost each other before. We’re in a place where it’s now or never.” CREDIT: Lee Min Jung / Instagram South Korean celeb visitors SPAIN has joined the list as a popular travel location for young South Korean celebrities with singer Jung Chae Yeon and actress Lee Min Jung spotted in Sevilla. Jung Chae Yeon, 21, a singer and actress best known for being a member of the South Korean pop girl group DIA formed by MBK Entertainment was spotted in Sevilla in a selfie accompanied with actress Lee Min Jung. Guests of honour CREDIT: Instagram Olivia and Bradley at La Sala. Lee Min Jung uploaded the picture to her Instagram and captioned the photo ‘A Barbershop in Sevilla. First meal with Chae Yeon and Soohyeon teacher in Malaga!’ Lee Min Jung and Jung Chae Yeon will be appearing on MBC’s variety travel programme ‘A Barbers Shop in Sevilla’ which will air in July. Olivia flew out to Marbella last week with Bradley to attend the wedding of his fellow Blackburn Rovers teammate Darragh Lenihan who wed his childhood sweetheart Shauna during a ceremony held at the Villa Padierna hotel in Marbella. Olivia and Bradley were spotted together drinking and relaxing at the nearby celebrity restaurant La Sala in Puerto Banus the next day, a popular haven for celebrities such as Kanye West and Ricky Martin. A GOOD TIME: Kate Middleton and Queen Letizia. Kate Middleton snubs Queen Letizia? ROYAL fans suggested another feud brewing this week when a video circulated around social media seemingly showing Kate Middleton ignoring Queen Letizia of Spain during the Order of the Garter in London. In the video Kate exits her car, greets several people, and finally fails to acknowledge Queen Letizia who many suggested Kate should have curtsied to. The viral video clip which shook social channels, of course, shows only a few moments of the full day of festivities. In fact Kate Middleton and Queen Letizia had already greeted one another earlier that day. Photos from the event of the Duchess and the Spanish Queen show them having a good time in each other’s company. Kate Middleton and Queen Letizia appear to have nothing but a friendly and civil relationship with misleading social media posts the only evidence indicating otherwise. CREDIT: Casa de S.M. el Rey / Twitter Weekend Beach Festival Credit: Matthew Waller Wikimedia Free flamenco THE first three Fridays in August will see some of the biggest names in contemporary flamenco performing for free in the open-air theatre on top of the Cerro de San Cristobal, Velez-Malaga at the Acompasao Festival. Doors open at 9pm. The reformed Black Eyed Peas on stage. THE Weekend Beach Festival returns to Torre del Mar in a bigger and better format than ever for the sixth year running. What started as a relatively low key event now takes place over four days (July 3 to 6) with more than 85 acts performing on two stages. Whilst the bulk of the artists are Spanish, two international acts in particular, the Original Wailers and the Black Eyed Peas will be flying in to appear. When Bob Marley first came to international fame, he added American guitarist Al Anderson to the Wailers line-up of Jamaican musicians and it is his guitar work which is prominent on such numbers as No Woman No Cry. He created the Original Wailers in 2008 with another former member Junior Marvin and in 2013 after Marvin had left, the band received a Grammy nomination for their Miracle album. The Black Eyed Peas need little introduction as with more than 70 million albums and singles sold, they are one of the most successful bands of all time. There was a hiatus when singer Fergie left the band and founder Will.I.Am followed a solo career, but they are now reformed with a new female singer Jessica Reynoso appearing from time to time. Tickets are available for the day or the entire Festival as well as camping but for full details visit http://www.weekendbeach.es.
27 June - 3 July 2019 • www.euroweeklynews.com 31 Special SPONSORED BY PROPERTYSpecial © EWN 2019 New mortgage law SPAIN’S new mortgage law has finally come into force. It is designed to incorporate European directives on consumer protection into Spanish law and includes several aspects beneficial to the customer. It is most beneficial to people taking on new loans, but what about those who already have a mortgage? According to bank comparison website HelpMyCash.com there are some measures that will affect existing mortgage holders, although most of the new regulations are not retrospective. Chief amongst these is the one that reduces the cost of converting a variable mortgage to a fixed rate loan, and secondly a tightening of regulations for foreclosures. When it comes to swapping loans from variable to fixed rates, banks may now charge a maximum of 0.15 per cent of the outstanding capital within three years of the initial contract being signed. After this period the transaction should be free. Before the law came into force, the usual commission for novation (where the GOOD NEWS: New law makes swapping to a fixed rate loan cheaper. Now the cost should be a maximum of €75. contract was changed for another loan at the same bank) was 0.5 per cent, while the subrogation commission (changing to another lender) was up to 0.5 per cent for the first five years and 0.25 per cent thereafter. Therefore, the application of this measure will mean savings for current mortgage holders who want to switch to a fixed rate to take advantage of low rates offered by banks in the current market. For example, a borrower who wants to move to a fixed rate on a mortgage contracted two years ago with a pending capital of €50,000 would have been charged up to €250 under the old regime. Now the cost should be a maximum of €75. But remember - there may be notary and land registry fees to pay as well. The second article that applies retroactively is the one which regulates the application of the early maturity clause. This is the step taken by banks to enable them to foreclose on the mortgage and seize the home after missed payments. The new regulations establish tougher requirements to apply this clause. During the first half of the mortgage term, the money owed must exceed 3 per cent of the capital granted or reach an equivalent of 12 instalments. In the second half of the loan term, the missed payments must be worth at least 7 per cent of the principal of the loan or an equivalent of 15 monthly payments. In addition, the lender must give the debtor one month to catch up with any pending payments before being able to start the execution process. It has also been made easier for existing mortgage holders to swap banks should they so wish. THE unsold stock of new housing fell by 3.6 per cent last year to 459,876 units, according to figures just released by the Ministry of Development. This means that the number of empty new properties has fallen by 30 per cent (189,904 units) in the last 10 years. In 2005 there were just 195,184 new units in the ‘property bank,’ a figure that would peak at 649,780 houses in 2009. After the bursting of the housing bubble began a slow ‘absorption’ of this remaining stock, although in most of the most popular coastal destinations there is in fact now a shortage of new build properties available for sale. The problem is that many entire developments were taken over by the banks when developers defaulted on loans. The ‘bad bank’ Bankia, where many of these ‘deals gone sour’ were parked, has recently said it will start a process of legally being able to sell these homes. So, although the coastal regions, where the construction boom was concentrated, have the largest number of new Unsold housing stock decreases unsold homes, developers of the latest new builds have little problem selling. It seems to be simply a bottleneck in the process that means properties lie empty. The Valencian Community heads this particular list with 86,137 units, almost 20 per cent of the national total. Next is Cataluña, with a stock of 73,048 (16 per cent), and Andalucia, with 69,327 units (15 per cent). By province, Alicante (39,309) and Barcelona (38,048) are the areas with the highest number of new unsold homes. Castellon, Valencia, Murcia and Almeria also have considerable numbers. The Community of Madrid, on the other hand, accounts for 8.73 per cent of the total stock (40,145), while Toledo, where building happened on a massive scale due to the proximity of the capital, represents 4.75 per cent of the total (20,714 properties). By region, the biggest fall in new stock last year was in the Basque Country, where it was reduced by 30 per cent. In the Balearic Islands 10 per cent of these properties were bought. By province, Guipuzcoa, Malaga, Huelva, Huesca and Lugo all saw stock decrease by more than 10 per cent. The presence of these homes in the property bank seems to have little effect on the market generally, as many were built in inaccessible and unpopular locations. Some experts say that many may well be bulldozed in the long term as the market concentrates on less speculative developments in sought after areas. POPULAR: New builds are selling well.
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Euro Weekly News - Axarquia 18 - 24 July 2019 Issue 1776

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