Dear All We have sent an update to all clients concerning the interest payments. I have spoken to TGC and have pointed out that the interest payments start from the date of the orginal stage payment and not the agreed extension date. TGC will be contacting Wilanow Invevestments to clarify the situation with them and we hope to have a response by late Monday. As for the requests for how your interest payments have been calculated can you please forward your request to investments@propertysecrets.net Kindest regards Debbie Head of Client Services

My calculation of interest is correct but for 2 things the first extension and what about the 30 day waiver that the agreement we just signed, i don't see that taking into account either. And how is that utilised on the very first late payment or the largest or smallest, i would assume the first 30 days are waived which for me is almost nothing as the first time i was late was when the banks took too much out in costs and i was around 40 PLN short or something. But apart from these points its completely correct and i am keen to pay get handover and then sue him if that is possible given cost v benefit analysis. But its good to see the light at the end of the tunnel.

I had hoped to hear something from PS reagrding the interest calculations - why have Wilanow Investments calculated from 31st Jan , and not 21st Feb ? I thought this had been agreed, although if this was only a verbal agreement I would not be surprised if it counts for nothing ! Even if PS are having difficulties getting information from the developer it would nice to relay this to us. I understand we have till 25th November to make this payment, but with the developer not responding to our queries(or so it appears!) i am not sure if I should just send the amount calculated with the deadline extension of 21 Feb factored in. Olek

Could PS please confirm how the payment deadline extension was agreed between PS/TGC and Wilanow Investments. Was this a verbal agreement, or do we have a written legally binding agreement ?

Just following up on Olek's point that the interest is due on 25th. Although the latest update tells us that TGC are talking to the developer, it does leave a few important points unanswered. Firstly should we just sit tight and do nothing until we hear back from TGC. Or if not what does it advise that we do. I do understand that PS are probably hoping that TGC get back to us today but given the developer's recent history this certainly cannot be taken for granted. Clearly we do not want to further complicate matters by not paying the interest demand but neither do we want to overpay the developer as i doubt we would ever get anything back if we did. some advise would be greatfully appreciated

Nov 25th deadline has passed and we do not have any news regarding the discussions TGC and the developer are supposedly having. Basically all we want to know is whether the Developer is going to honour the payment extension deadline which was agreed for the stage payment due 31st January. Poor communication again .... surely on deadline day for penalty payments we should have received some advice on what we should be doing ... Olek

Dear Olek I appreciate your comments. PS have spoken to TGC concerning the payment extension deadline on serveral occassions and they in turn have spoken to the developer who has not responded. We have seen from this developer that they are not quick in responding as you saw with the time it took to get the interest calculations from them. As for the deadline of paying the developer by the 25th of November. The developer placed that deadline on payments and all interest was calculated up to that date. As per the TGC e-mail sent to all clients. Obvioulsy the decision to make this payment to the developer or wait to have confirmation that the developer is honouring the payment extension is something that the investor must make as PS can not give advice on this. Kindest regards Debbie