advice needed about bank guarentee

[woodycurtain]

hi all
can anyone advise as to what is the normal procedure regarding who has the original bank guarentee on a new build. we are flying out to spain next fri and have been trying to arrange with the developer to collect ours, as our solicitor and notary have both advised us we should hold the original, however the developer is saying the original stays with the bank and we can only have a copy. we already have a faxed copy which has been checked and has been approved by our notary. do we need to push the developer harder and risk falling out with them or is as faxed copy considered good enough
regards woodycurtain

[Retro P]

Hi, sorry I'm not at all clear about this, first can you explain what you mean by a bank gaurantee, do you have a bank mortgage, sceondly if the gaurantee stays with the bank then shouldn't you be discussing it with the bank, can you clarify what you mean.

[hillybilly]

The original does usually stay with the bank with you/your lawyer receiving a copy in your contract docs.

[woodycurtain]

thanks for replies
have now handed the matter over to our solicitor to sort out with the developer
thanks again