Spanish Property Investment
Did you lose your deposit on an ‘off plan’ investment?
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Spanish Property Investment
Up until 2008, Spain had been selling more homes than the UK, France and Germany combined. Many of the sales were off-plan with a deposit taken but the properties never built.
Do you or someone you know find themselves without the property and the deposit?
It is possible to recover the deposit but time is running out to see if your deposit can be recovered call us now or fill in the form here.
During December 2015, there was a ruling in Spain’s Supreme Court, which opened the door for around 100,000 UK residents to make a claim against the Spanish Bank, which held their deposits. The judgement was that the banks should have in place procedures to safeguard consumer’s money rather than the bank normal practice of simply transferring the money to the developers. Many of the developers subsequently ceased trading long before the properties were ever completed and the deposits disappeared.
Many investors would have believed that there was little probability of recovering their monies, as the developers had gone bust; however, the Supreme Court ruling places the liability with the developers’ bank, who are very likely to have the funds to pay consumers. The Spanish Banks have set aside more than £1b for these Spanish Property Investors so do not miss your share.
Time to take action
The Spanish Supreme Court’s judgement was time-limited. Purchasers have until 7 October 2020 to make their claim or 15 years of the predicted completion date for the property whichever is sooner.
The claimant needs a signed copy of the contact with the developer and proof of payment of the deposit to the developer. If the deposit went via the claimant’s solicitor then the solicitor will need to show the transfer of money to the developer or his solicitor.
If you have paid money in advance on a property in Spain, which was never completed, then contact us to see how we can help you recover your money. For more information or to start your claim today, please contact us on 03003 033 819.
Deal with someone you can trust
The Solicitors Regulation Authority (SRA) regulates Lincoln Green Solicitors, which ensures your safety. When you chose to work with us, we will be able to look after your entire claim with our Spanish counterparts.
Our team are available 9am-5pm
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The information on our website is intended to provide an overview of the services that we provide and does not constitute legal advice. If you wish to discuss your particular circumstances please contact us.
Authorised and regulated by the Solicitors Regulation Authority SRA No. 650601
Registered office: Artemis House, 4 Bramley Rd, Bletchley, Milton Keynes MK1 1PT