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Sr. José Blanco the Spanish Development Minister (El Ministro de Fomento) has announced that the Spanish Government Official Property ‘Road Show’ will commence in London on 4 May 2011.
In the official press release issued on 14 April 2011 in Madrid by the Ministerio de Fomento Sr. Blanco said:
“The Road Show will highlight the strengths of our economy, transparency and legal certainty of our planning legislation.
It is a good time to carry out this pioneering initiative because the markets that have the potential to invest in second homes are recovering and we must revive the holiday housing market ‘to speed up the digestion of stock’
In selecting the countries to be visited in this first round of Road Shows we have taken into account variables such as the volume of house purchases in Spain that its citizens have made in recent years, its investment in general in our country, the situation of their respective economies and the potential for increased investment in our second homes market.
The United Kingdom is the first international destination for this first round of Road Shows because, according to the latest data available, its citizens and investors in 2009 accounted for 31.5% of foreign buyers of property in Spain.
In subsequent weeks we will also visit France, Germany, Holland and Sweden. In addition we will visit also Russia.
The Road Show is designed in two phases: in the first phase the Ministry of Development will transmit confidence to large investors and brokers, offering all the information regarding our market, ongoing policy reforms and greater transparency regarding the evolution of prices and stock. Subsequently we will develop a second phase, open to private sector participation, with a selection of real estate products that meet minimum standards of legality, planning and quality through an evaluation process in which agents and companies interested in participating in this round may voluntarily submit their properties and products”.
Speaking to Onda Cero radio station Sr. Blanco defended the need for the Road Show by stating that “The fact is that there is a ‘stock’ of residential housing and it is necessary to speed up sales because it is weighing heavily on the sector financially”.
He said “It seems that I have become a real estate agent but my role is to ensure greater legal certainty to potential investors following many campaigns against the Spanish property sector”
****************************************************************Is Sr. Blanco really serious? “highlight the strengths of our economy, transparency and legal certainty of our planning legislation”
I know politicians say some ridiculous things but this really does take the top prize.
This is an insult to all those of us who stand to lose so much due to the corruption and negligence in the Spanish Property Sector. The Spanish Property Sector certainly does not have any transparency or legal certainty!!
Sr. Blanco said “It seems that I have become a real estate agent but my role is to ensure greater legal certainty to potential investors following many campaigns against the Spanish property sector”
Does Sr. Blanco not think that those campaigns against the Spanish property sector are fully justified? What has Sr. Blanco and the Spanish Government done to address those campaigns? Nothing! It is an embarrassment to the country of Spain.
It seems Sr. Blanco is trying to blame the campaigns for the lack of legal certainty in the Spanish Property Sector!! Just like the rest of them he is passing the buck. These are the actions and words of a desperate man hoping that a miracle will happen and that all the campaigners will just ‘go away’.
Sr. Zapatero is leading a weak government who is failing to tackle the problems. Instead they are trying to ignore the victims and move forward with a Road Show to promote transparency and legal certainty which are elements of the Spanish Property Sector that simply do not exist. On 6 July 2010 Sr. Zapatero said in the European Parliament “We stand shoulder to shoulder with those people, who maybe have had the wool pulled over their eyes in the property sector”. More empty words I am afraid.
In February 2011, when previewing the upcoming Road Shows the Spanish Housing Minister, Sra. Beatriz Corredor Sierra said: “Come here calmly and trust in the system that we have and the transparency we provide”
Sr. Blanco and Sra. Corredor need to understand that for thousands of victims of the Spanish Property Sector there was and still is no ‘transparency or legal certainty’.
Despite many empty words by Spanish Government officials there still remains little evidence of any ‘ongoing policy reforms’.
Lawyers and Banks have been negligent, the court system is overloaded, judges are inconsistent and real justice is still an expensive dream for many victims.
There remains a basic lack of understanding of LEY 57/68 (the law relating to Bank Guarantees) and in many cases the law is not applied properly.
The Supervisor of the Spanish Banking System – the Banco de España is totally ineffective and has no real power. The result is that the Banks have been allowed to ignore their obligations according to LEY 57/68 and work together with the corrupt developers to blatantly steal purchaser’s off-plan deposit funds.
It is a serious mess and Sr. Blanco and the Spanish Government have NOTHING to put on a show about. Before making more empty promises and embarking on a Road Show designed to entice other unsuspecting ‘victims’ into the shambles that is the Spanish Property Sector Sr. Blanco must, together with his government colleagues, rectify the serious injustices that have taken place over the past decade in their country.
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I am sorry but despite of all that has gone in Spain. As a non Spaniards you all have not understood how they work.
He will be on an all paid up tour. His family will be travelling with him eating, drinking, shopping etc on tax payers expense.
I do not think that he will have the guts to see indiviuals as I am sure he does not want his pretty face to be defaced.
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I am sorry but despite of all that has gone in Spain. As a non Spaniards you all have not understood how they work.
He will be on an all paid up tour. His family will be travelling with him eating, drinking, shopping etc on tax payers expense.
I do not think that he will have the guts to see indiviuals as I am sure he does not want his pretty face to be defaced.
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Katy, Although I am not affected. I would love to be there. The excitement will more tense than a “Corida” and remember the Bull does not win all the time. I do not beleive that he will make a appearance in front of Joe Public.
I have seen these Macho men hiding when faced with irate customer & have sent some young Maria to face the abuse.
Besides it will be a good excuse to meet so many of us that post on the forum.
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Katy, Although I am not affected. I would love to be there. The excitement will more tense than a “Corida” and remember the Bull does not win all the time. I do not beleive that he will make a appearance in front of Joe Public.
I have seen these Macho men hiding when faced with irate customer & have sent some young Maria to face the abuse.
Besides it will be a good excuse to meet so many of us that post on the forum.
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One of the posters on Keith’s facebook page says: “We paid our deposit back in 2004 for a property that was never built and we had a bank guarantee, the build San Jose went into adminstration and we’ve still not had a penny back”.
Would love to hear Sr. Blanco’s reply to that. “Legal certainty to potential investors” indeed. I’d rather gamble on my dog winning a gold medal in gymnastics at the Olympics next year (and he doesn’t even do ‘fetch the stick’).
Between him and the likes of Josefina Cruz, it’s obvious the tactics of the Government re. defending Spain’s horrendous self-made corruption/property debacle is to shift all the blame on ‘illegal purchasers’ and their ‘unwarranted campaigns’. It’s called denial.
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One of the posters on Keith’s facebook page says: “We paid our deposit back in 2004 for a property that was never built and we had a bank guarantee, the build San Jose went into adminstration and we’ve still not had a penny back”.
Would love to hear Sr. Blanco’s reply to that. “Legal certainty to potential investors” indeed. I’d rather gamble on my dog winning a gold medal in gymnastics at the Olympics next year (and he doesn’t even do ‘fetch the stick’).
Between him and the likes of Josefina Cruz, it’s obvious the tactics of the Government re. defending Spain’s horrendous self-made corruption/property debacle is to shift all the blame on ‘illegal purchasers’ and their ‘unwarranted campaigns’. It’s called denial.
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The British government should issue an undesirable alien order to prevent Snr. Blanco and his chums from entering the UK on the grounds of national security. 😆
The last thing the UK needs at the moment is a flow of capital leaving the country and ending up in Spain to help out the struggling banks and the Spanish economy.
Well done to ‘roots’ for starting a petition.
Until the government sort out the mess in places like the Almazora Valley and help the Prior’s the British should boycott Spain altogether.
It’s the only weapon the people have.
Sadly most folks really don’t give a fly**g f**k for the hapless state of others. 🙁
Read the comment in the Telegraph by one fellow by the name of Thomas Goodey:-
Of course anybody who buys anything off-plan in any country is a sucker and deserves everything that happens to him -
The British government should issue an undesirable alien order to prevent Snr. Blanco and his chums from entering the UK on the grounds of national security. 😆
The last thing the UK needs at the moment is a flow of capital leaving the country and ending up in Spain to help out the struggling banks and the Spanish economy.
Well done to ‘roots’ for starting a petition.
Until the government sort out the mess in places like the Almazora Valley and help the Prior’s the British should boycott Spain altogether.
It’s the only weapon the people have.
Sadly most folks really don’t give a fly**g f**k for the hapless state of others. 🙁
Read the comment in the Telegraph by one fellow by the name of Thomas Goodey:-
Of course anybody who buys anything off-plan in any country is a sucker and deserves everything that happens to him -
The comment by Stephen Hitchins, director of property company The Almanzora Group Ltd:
“It is not right that leaders of opinion, no matter how concerned about the plight of those few caught in an illegal housing trap, give advice that quite unecessarily prejudices the legitimate interests of the majority of their nationals, who own completely legal property in Spain; it is hard enough for them to sell their properties in today’s market as it is.”
His expression “those few” could be misleading, and misinterpreted as to indicate a few dozen or so instead of tens of thousands. A bit economical with the truth?
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The comment by Stephen Hitchins, director of property company The Almanzora Group Ltd:
“It is not right that leaders of opinion, no matter how concerned about the plight of those few caught in an illegal housing trap, give advice that quite unecessarily prejudices the legitimate interests of the majority of their nationals, who own completely legal property in Spain; it is hard enough for them to sell their properties in today’s market as it is.”
His expression “those few” could be misleading, and misinterpreted as to indicate a few dozen or so instead of tens of thousands. A bit economical with the truth?
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Great effort from Michael Cashman, and I completely agree with his aims.
Unfortunately no one takes a blind bit of notice what an MEP thinks or says. They are an utter irrelevance in political terms and it will make not a nat’s tit of difference.
The letter would have had more weight if it was written by William Hague but that would cause a diplomatic spat and the Spanish government would probably close the boarder with Gibraltar for a while.
The only sanction the British have against the Spanish is to stay away, not buy property, not go on holiday until they realise things have to change.
The market is doing that for them right now but in reality nothing will change.
When the market turns and Sterling rises against the Euro the status quo of the Spanish property market will resume.
Mind you we may be very old folks by then pushing our zimmers around. 🙂 -
Great effort from Michael Cashman, and I completely agree with his aims.
Unfortunately no one takes a blind bit of notice what an MEP thinks or says. They are an utter irrelevance in political terms and it will make not a nat’s tit of difference.
The letter would have had more weight if it was written by William Hague but that would cause a diplomatic spat and the Spanish government would probably close the boarder with Gibraltar for a while.
The only sanction the British have against the Spanish is to stay away, not buy property, not go on holiday until they realise things have to change.
The market is doing that for them right now but in reality nothing will change.
When the market turns and Sterling rises against the Euro the status quo of the Spanish property market will resume.
Mind you we may be very old folks by then pushing our zimmers around. 🙂 -
The Road Shows are gaining a fair amount of negative press coverage which is good!
Lets hope Michael Cashman is right and that Sr. Blanco will be forced to spend some of the time on the Road Shows addressing the property issues of the tens of thousands of innocent victims.
By the end of the two month trip around Europe Sr. Blanco and Sra. Corredor may have heard so much about the serious injustices and corruption in the Spanish Property Sector that they may just realise the only way forward is to tackle the huge issues of the past first!
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The Road Shows are gaining a fair amount of negative press coverage which is good!
Lets hope Michael Cashman is right and that Sr. Blanco will be forced to spend some of the time on the Road Shows addressing the property issues of the tens of thousands of innocent victims.
By the end of the two month trip around Europe Sr. Blanco and Sra. Corredor may have heard so much about the serious injustices and corruption in the Spanish Property Sector that they may just realise the only way forward is to tackle the huge issues of the past first!
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The road show will conveniently finish by the end of June just about time to go on Holidays. In the case of Mr Blanco a four months holidays with the first two months overtly paid by the state or funding from EU.
Keith110, He or others do not have to realise the state of affairs. They are well aware of it and as far the British chasing the sunny dream & a bottle of Tinto they will be like Bees to Honey.
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The road show will conveniently finish by the end of June just about time to go on Holidays. In the case of Mr Blanco a four months holidays with the first two months overtly paid by the state or funding from EU.
Keith110, He or others do not have to realise the state of affairs. They are well aware of it and as far the British chasing the sunny dream & a bottle of Tinto they will be like Bees to Honey.
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PRESS / MEDIA RELEASE
BANK GUARANTEES IN SPAIN PETITION (http://www.bankguaranteesinspain.com) & FINCA PARCS ACTION GROUP (http://www.fincaparcsactiongroup.com)
– RESPONSE TO THE SPANISH GOVERNMENT PROPERTY ROAD SHOWSMAY 2011 – FOR IMMEDIATE RELEASE
• Spanish Government to hold Road Shows around Europe to promote the ‘transparency and legal security’ of the Spanish Property Market
• This is an insult to the thousands of victims many of whom have lost or stand to lose their life savings as a result of the corruption and negligence present in the Spanish Property Market over the past decade
• Purchasers are often the innocent victims in a trail of lies, deception, negligence, lack of due diligence and complete lack of control within the real estate sector.
• Sr. José Blanco and the Spanish Government must act now to ensure the abuse and problems being suffered by innocent property purchasers in Spain are ended immediately and that they are never allowed to happen again.
RESPONSE TO THE ROAD SHOWS BY KEITH RULE FROM THE BANK GUARANTEES IN SPAIN PETITION & THE FINCA PARCS ACTION GROUP
Is Sr. Blanco really serious?
He says the Road Shows will “Highlight the strengths of our economy, transparency and legal certainty of our planning legislation”
This is an insult to all those of us who stand to lose so much due to the corruption and negligence in the Spanish Property Sector. The Spanish Property Sector certainly does not have any transparency or legal certainty!
Sr. Blanco said “It seems that I have become a real estate agent but my role is to ensure greater legal certainty to potential investors following many campaigns against the Spanish property sector”
Does Sr. Blanco not think that those campaigns against the Spanish property sector are fully justified? What has Sr. Blanco and the Spanish Government done to address those campaigns? Nothing!
It appears that Sr. Blanco is trying to blame the campaigns for the lack of legal certainty in the Spanish Property Sector! Just like the rest of the Spanish Government he is passing the buck. These are the actions and words of a desperate man hoping that a miracle will happen and that all the campaigners will just ‘go away’.
EMPTY WORDS FROM THE SPANISH GOVERNMENT
Sr. Zapatero is leading a government who is failing to tackle the very serious problems in the Spanish Property Sector. Instead they are attempting to ignore the victims and move forward with a Road Show to promote transparency and legal certainty which are elements of the Spanish Property Sector that, in many cases, simply do not exist.On 6 July 2010 in the European Parliament Sr. Zapatero said “We stand shoulder to shoulder with those people, who maybe have had the wool pulled over their eyes in the property sector”. That is easy for Sr. Zapatero to say, but what has he and his Government done to address the serious injustices and corruption?
In February 2011, when previewing the upcoming Road Shows the Spanish Housing Minister, Sra. Beatriz Corredor Sierra said: “Come here calmly and trust in the system that we have and the transparency we provide”
Sr. Zapatero, Sr. Blanco and Sra. Corredor need to understand that for thousands of victims of the Spanish Property Sector there was and still is no ‘transparency or legal certainty’.
Despite many empty words by Spanish Government officials there still remains little evidence of any ‘ongoing policy reforms’.
CORRUPTION, NEGLIGENCE & LACK OF DUE DILIGENCE
Many Estate Agents, Lawyers & Banks were negligent and acted with a complete lack of professional due diligence. The court system is overloaded which results in unacceptable delays clearly to the advantage of the corrupt developers and negligent Banks. Judges are inconsistent and as a result real justice is still an expensive dream for many victims.
There remains a basic lack of understanding of LEY 57/68 (the law relating to off-plan Bank Guarantees) and in many cases the law is not applied correctly.
The Supervisor of the Spanish Banking System – the Banco de España is totally ineffective and has no real power. The result is the Banks & Savings Banks were allowed to ignore their obligations according to LEY 57/68, collude with the corrupt developers and fail to protect purchaser’s off-plan deposit funds.
Now of great concern is the situation whereby the Banks & Savings Banks that accepted vast sums in off-plan deposits and failed to issue or verify the existence of the legally required Bank Guarantees in accordance with Spanish Law, LEY 57/68, are now amongst Spain’s largest Real Estate Agents as a result of the fact they have repossessed so much property including many off-plan developments.
María de Castro, Director of the legal firm Costa Luz Lawyers who is representing the Finca Parcs Action Group in their legal action against the Savings Bank Caja de Ahorros del Mediterráneo (CAM) and Spanish developer Cleyton GES SL says: “The Banks & Savings Banks had a lesser financial exposure to the off-plan developments due to the fact they failed to secure all the off-plan deposit funds in the special accounts and with the legally required Bank Guarantees as required by Spanish Law, in particular, LEY 57/68”
María de Castro also has some words of advice for Sr. Blanco, “During the Road Shows Sr. Blanco should meet with the representatives of the victims and establish a plan for them to be refunded. This may result in these people regaining confidence and wishing to buy in Spain again. But most surely it will produce more respect for Spain and its politicians if there is real evidence that they are addressing the problems”.
DEMANDS FOR JUSTICE, RECOMPENSE & CHANGE FOR THE FUTURE
Sr. Blanco and the Spanish Government are attempting to highlight the transparency and legal security they claim is present in the Spanish Housing Market.
We have absolutely no evidence of this transparency or legal security.
We demand the Road Shows are also used to address the property issues of thousands of innocent victims many of whom have found absolutely no results despite suffering years of expensive and stressful legal action through the inadequate Spanish justice system.
We as innocent victims of the Spanish Housing Market demand action and recompense.
We are determined to force accountability, demand justice and ensure change for the future. We must also warn potential future investors in the Spanish Property Sector of the very real dangers often encountered when purchasing a dream home in Spain.
This is a very serious situation and Sr. Blanco and the Spanish Government have NOTHING to put on a show about. Before making more empty promises and embarking on a Road Show designed to entice other unsuspecting ‘victims’ into the shambles that is the Spanish Property Sector Sr. Blanco must, together with his government colleagues, address and then rectify the serious injustices that have taken place in their country over the past decade.
OPEN LETTER TO JOSÉ BLANCO LÓPEZ – SPANISH MINISTER FOR PUBLIC WORKS – FROM MICHAEL CASHMAN MEP
On 29 April 2011, Mr Michael Cashman MEP wrote an open letter to Sr. José Blanco calling on him to “take advantage of the time at the Road Shows to address the property issues of tens of thousands of Europeans including British and Spanish property owners”. Mr Cashman also poses the question to Sr. Blanco, “What about those that have already invested and who, faced with the uncompensated loss of their property, have found absolutely no results through the Spanish legal system?” The letter concludes with the following words of caution: “I would not advise any investment in Spanish property until this problem is resolved. I trust the outcome of your visit will bring a light of hope to all these victims”.
STOP THE ROAD SHOWS PETITION
There are many affected groups who feel that due to the fact the Spanish Government has failed to address the injustices and corruption, the Road Shows should not be taking place at all. To this end an internet based petition on the Go Petition website has just been launched which calls on David Lidington, the Minister for Europe, to stop the Road Shows from taking place.
FURTHER DETAILS
Further details regarding the FINCA PARCS ACTION GROUP can be found at: http://www.fincaparcsactiongroup.comDetails of the Petition related to Bank Guarantees in Spain directed to, among others, Don Miguel Angel Fernández Ordoñez – Governor of the Banco de España (The Banco de España is the national central bank and supervisor of the Spanish banking system), Don José Luis Rodríguez Zapatero – Prime Minister of Spain and José Manuel Barroso – President of the European Commission can be found on the BANK GUARANTEES IN SPAIN website at: http://www.bankguaranteesinspain.com
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PRESS / MEDIA RELEASE
BANK GUARANTEES IN SPAIN PETITION (http://www.bankguaranteesinspain.com) & FINCA PARCS ACTION GROUP (http://www.fincaparcsactiongroup.com)
– RESPONSE TO THE SPANISH GOVERNMENT PROPERTY ROAD SHOWSMAY 2011 – FOR IMMEDIATE RELEASE
• Spanish Government to hold Road Shows around Europe to promote the ‘transparency and legal security’ of the Spanish Property Market
• This is an insult to the thousands of victims many of whom have lost or stand to lose their life savings as a result of the corruption and negligence present in the Spanish Property Market over the past decade
• Purchasers are often the innocent victims in a trail of lies, deception, negligence, lack of due diligence and complete lack of control within the real estate sector.
• Sr. José Blanco and the Spanish Government must act now to ensure the abuse and problems being suffered by innocent property purchasers in Spain are ended immediately and that they are never allowed to happen again.
RESPONSE TO THE ROAD SHOWS BY KEITH RULE FROM THE BANK GUARANTEES IN SPAIN PETITION & THE FINCA PARCS ACTION GROUP
Is Sr. Blanco really serious?
He says the Road Shows will “Highlight the strengths of our economy, transparency and legal certainty of our planning legislation”
This is an insult to all those of us who stand to lose so much due to the corruption and negligence in the Spanish Property Sector. The Spanish Property Sector certainly does not have any transparency or legal certainty!
Sr. Blanco said “It seems that I have become a real estate agent but my role is to ensure greater legal certainty to potential investors following many campaigns against the Spanish property sector”
Does Sr. Blanco not think that those campaigns against the Spanish property sector are fully justified? What has Sr. Blanco and the Spanish Government done to address those campaigns? Nothing!
It appears that Sr. Blanco is trying to blame the campaigns for the lack of legal certainty in the Spanish Property Sector! Just like the rest of the Spanish Government he is passing the buck. These are the actions and words of a desperate man hoping that a miracle will happen and that all the campaigners will just ‘go away’.
EMPTY WORDS FROM THE SPANISH GOVERNMENT
Sr. Zapatero is leading a government who is failing to tackle the very serious problems in the Spanish Property Sector. Instead they are attempting to ignore the victims and move forward with a Road Show to promote transparency and legal certainty which are elements of the Spanish Property Sector that, in many cases, simply do not exist.On 6 July 2010 in the European Parliament Sr. Zapatero said “We stand shoulder to shoulder with those people, who maybe have had the wool pulled over their eyes in the property sector”. That is easy for Sr. Zapatero to say, but what has he and his Government done to address the serious injustices and corruption?
In February 2011, when previewing the upcoming Road Shows the Spanish Housing Minister, Sra. Beatriz Corredor Sierra said: “Come here calmly and trust in the system that we have and the transparency we provide”
Sr. Zapatero, Sr. Blanco and Sra. Corredor need to understand that for thousands of victims of the Spanish Property Sector there was and still is no ‘transparency or legal certainty’.
Despite many empty words by Spanish Government officials there still remains little evidence of any ‘ongoing policy reforms’.
CORRUPTION, NEGLIGENCE & LACK OF DUE DILIGENCE
Many Estate Agents, Lawyers & Banks were negligent and acted with a complete lack of professional due diligence. The court system is overloaded which results in unacceptable delays clearly to the advantage of the corrupt developers and negligent Banks. Judges are inconsistent and as a result real justice is still an expensive dream for many victims.
There remains a basic lack of understanding of LEY 57/68 (the law relating to off-plan Bank Guarantees) and in many cases the law is not applied correctly.
The Supervisor of the Spanish Banking System – the Banco de España is totally ineffective and has no real power. The result is the Banks & Savings Banks were allowed to ignore their obligations according to LEY 57/68, collude with the corrupt developers and fail to protect purchaser’s off-plan deposit funds.
Now of great concern is the situation whereby the Banks & Savings Banks that accepted vast sums in off-plan deposits and failed to issue or verify the existence of the legally required Bank Guarantees in accordance with Spanish Law, LEY 57/68, are now amongst Spain’s largest Real Estate Agents as a result of the fact they have repossessed so much property including many off-plan developments.
María de Castro, Director of the legal firm Costa Luz Lawyers who is representing the Finca Parcs Action Group in their legal action against the Savings Bank Caja de Ahorros del Mediterráneo (CAM) and Spanish developer Cleyton GES SL says: “The Banks & Savings Banks had a lesser financial exposure to the off-plan developments due to the fact they failed to secure all the off-plan deposit funds in the special accounts and with the legally required Bank Guarantees as required by Spanish Law, in particular, LEY 57/68”
María de Castro also has some words of advice for Sr. Blanco, “During the Road Shows Sr. Blanco should meet with the representatives of the victims and establish a plan for them to be refunded. This may result in these people regaining confidence and wishing to buy in Spain again. But most surely it will produce more respect for Spain and its politicians if there is real evidence that they are addressing the problems”.
DEMANDS FOR JUSTICE, RECOMPENSE & CHANGE FOR THE FUTURE
Sr. Blanco and the Spanish Government are attempting to highlight the transparency and legal security they claim is present in the Spanish Housing Market.
We have absolutely no evidence of this transparency or legal security.
We demand the Road Shows are also used to address the property issues of thousands of innocent victims many of whom have found absolutely no results despite suffering years of expensive and stressful legal action through the inadequate Spanish justice system.
We as innocent victims of the Spanish Housing Market demand action and recompense.
We are determined to force accountability, demand justice and ensure change for the future. We must also warn potential future investors in the Spanish Property Sector of the very real dangers often encountered when purchasing a dream home in Spain.
This is a very serious situation and Sr. Blanco and the Spanish Government have NOTHING to put on a show about. Before making more empty promises and embarking on a Road Show designed to entice other unsuspecting ‘victims’ into the shambles that is the Spanish Property Sector Sr. Blanco must, together with his government colleagues, address and then rectify the serious injustices that have taken place in their country over the past decade.
OPEN LETTER TO JOSÉ BLANCO LÓPEZ – SPANISH MINISTER FOR PUBLIC WORKS – FROM MICHAEL CASHMAN MEP
On 29 April 2011, Mr Michael Cashman MEP wrote an open letter to Sr. José Blanco calling on him to “take advantage of the time at the Road Shows to address the property issues of tens of thousands of Europeans including British and Spanish property owners”. Mr Cashman also poses the question to Sr. Blanco, “What about those that have already invested and who, faced with the uncompensated loss of their property, have found absolutely no results through the Spanish legal system?” The letter concludes with the following words of caution: “I would not advise any investment in Spanish property until this problem is resolved. I trust the outcome of your visit will bring a light of hope to all these victims”.
STOP THE ROAD SHOWS PETITION
There are many affected groups who feel that due to the fact the Spanish Government has failed to address the injustices and corruption, the Road Shows should not be taking place at all. To this end an internet based petition on the Go Petition website has just been launched which calls on David Lidington, the Minister for Europe, to stop the Road Shows from taking place.
FURTHER DETAILS
Further details regarding the FINCA PARCS ACTION GROUP can be found at: http://www.fincaparcsactiongroup.comDetails of the Petition related to Bank Guarantees in Spain directed to, among others, Don Miguel Angel Fernández Ordoñez – Governor of the Banco de España (The Banco de España is the national central bank and supervisor of the Spanish banking system), Don José Luis Rodríguez Zapatero – Prime Minister of Spain and José Manuel Barroso – President of the European Commission can be found on the BANK GUARANTEES IN SPAIN website at: http://www.bankguaranteesinspain.com
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Snr. Blanco and his chums are a bit like the Pakistan government.
They have not a clue what’s really going on in their country and if some of them do they simply ignore it and pretend it’s not happening because it’s in their best interests so to do.
There has never been ‘transparency and legal security’ in the Spanish property market. Never has been and never will be. Why?
Like Pakistan, Spain is essentially a deeply corrupt country where the rule of law simply does not function.
These countries have a façade of respectability whilst on the ground where it matters foreigners are seen as fair game to exploit.
All Spanish property deals should like cigarettes carry a government health warning.
If you buy this property you may seriously damage your wealth.
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Snr. Blanco and his chums are a bit like the Pakistan government.
They have not a clue what’s really going on in their country and if some of them do they simply ignore it and pretend it’s not happening because it’s in their best interests so to do.
There has never been ‘transparency and legal security’ in the Spanish property market. Never has been and never will be. Why?
Like Pakistan, Spain is essentially a deeply corrupt country where the rule of law simply does not function.
These countries have a façade of respectability whilst on the ground where it matters foreigners are seen as fair game to exploit.
All Spanish property deals should like cigarettes carry a government health warning.
If you buy this property you may seriously damage your wealth.
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Logan. I can see your parallels with Spain & Pakistan. One big differance is Pakistan is not in EU. I would not have bought in Spain if I did not have, what it turns out to be a false securty of being governed very much in line with the founding principal of the treaty of Rome.
It is for this reason I will not buy in Morocco, Croatia, Cape Verdi, Egypt, Turkey etc for all its worth..
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Logan. I can see your parallels with Spain & Pakistan. One big differance is Pakistan is not in EU. I would not have bought in Spain if I did not have, what it turns out to be a false securty of being governed very much in line with the founding principal of the treaty of Rome.
It is for this reason I will not buy in Morocco, Croatia, Cape Verdi, Egypt, Turkey etc for all its worth..
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Congratulations Keith, a fantastic job. Like Roots with her petition, I can’t begin to imagine the time, effort and dedication you both have put in to achieve all this. I just wish I was in London to wave my story under Sr. Blanco’s nose to support your efforts. Leaflets showing Mark’s ‘cart before the horse’ cartoon should be dropped by helicopter over the streets of London on Blanco’s opening day!
I agree with all who can see that to move the Spanish property market, the number one priority has to be to restore confidence. So sellers should get on the right side of the fence……no confidence, no sale. A road show? Spanish Government priorities are totally a*** about face.
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Congratulations Keith, a fantastic job. Like Roots with her petition, I can’t begin to imagine the time, effort and dedication you both have put in to achieve all this. I just wish I was in London to wave my story under Sr. Blanco’s nose to support your efforts. Leaflets showing Mark’s ‘cart before the horse’ cartoon should be dropped by helicopter over the streets of London on Blanco’s opening day!
I agree with all who can see that to move the Spanish property market, the number one priority has to be to restore confidence. So sellers should get on the right side of the fence……no confidence, no sale. A road show? Spanish Government priorities are totally a*** about face.
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Spain’s Thousands of Illegal Homes Sour Development Minister’s Sales Pitch
http://www.bloomberg.com/news/2011-05-03/spain-s-thousands-of-illegal-homes-sour-development-minister-s-sales-pitch.html -
Spain’s Thousands of Illegal Homes Sour Development Minister’s Sales Pitch
http://www.bloomberg.com/news/2011-05-03/spain-s-thousands-of-illegal-homes-sour-development-minister-s-sales-pitch.html -
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“……municipal governments collected 40 billion euros ($59 billion) from real estate activities such as building permits and land sales in that year alone….”
Plus all the other taxes re. house purchase/sales, etc.
I wonder if the Prior’s got all their property taxes refunded considering their house was ‘illegal’ in the Junta’s view. Or is collecting taxes on illegal properties another nice little earner?
Only 340 officials and politicians under investigation, suspected of crimes? Tip of the blimmin’ iceberg!Bet Josefina Cruz is spitting feathers at all this bad publicity. 😆
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“……municipal governments collected 40 billion euros ($59 billion) from real estate activities such as building permits and land sales in that year alone….”
Plus all the other taxes re. house purchase/sales, etc.
I wonder if the Prior’s got all their property taxes refunded considering their house was ‘illegal’ in the Junta’s view. Or is collecting taxes on illegal properties another nice little earner?
Only 340 officials and politicians under investigation, suspected of crimes? Tip of the blimmin’ iceberg!Bet Josefina Cruz is spitting feathers at all this bad publicity. 😆
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OUR DAY AT THE SPANISH EMBASSY…………….
9.10am – Wed 4 May 2011
We have just been ejected from the Spanish Embassy in London.
We were very polite but the staff said to us:
“Todays event is private and by invitation only. It is to promote the Spanish Property Market to specially invited corporate investment companies. We are not here to discuss your issues. You must go through the courts. We must ask you to leave the building”
We did however leave some documentation with the staff and asked them to pass it to Sr. Blanco and Sra. Corredor.
The press conference is scheduled for 11am.
Will report more later.
Keith
***********************************************
11:30am
Nobody else here – just me and one other member of the Finca Parcs Action Group.
The Press Conference started at 11am.
We were at the main door just before the Press Conference handing out our Press Releases.
The press were very interested, especially the Spanish media and radio.
I was interviewd by El Mundo and a Spanish Radio Station.
We are doing more interviews when the Press Conference is finished.
Keith
*********************************************************
Afternoon Update:After standing outside the Spanish Embassy for almost 6 hours since being ejected early this morning and ringing the intercom and phoning them we were finally invited inside for a meeting at around 2:45pm.
The meeting was with an Embassy official and 2 representatives from the Government delegation (not Sr. Blanco or Sra. Corredor).
They listened to our views, took notes, took paperwork from us and said they were keen to work on solving the issues in the Spanish Property Sector.
We will keep in close contact with them and push them for a way forward over the next few weeks.
From previous experience we know words come easy – let us see if this time they are prepared to take action.
After today they are certainly aware of the level of feeling against the Spanish Property Market. They know that they can only move forward if they begin to tackle the problems of the past.
So after feeling very negative for most of the day we do now feel just a little tiny bit positive!
Let’s see what transpires over the next few weeks – only time will tell.
Keith
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Evening Update:I have learnt over the past 5 years that to get anything done in Spain you have to be persistent!!
The work with the Spanish Government has just begun!! There is much to do but we have surely made a small start today. They acknowlege us and know we exist and that we won’t just go away.
I was accompanied today by Reg – a member of the Finca Parcs Action Group.
We gave some newspaper and radio interviews in the morning to both the UK and Spanish Press. We distributed our Press Releases in English & Spanish (thanks to María de Castro for the translations).
Around midday we were joined by 5 other ‘protestors’ who were a great support. One of them was Mike who posts on EOS.
The Government delegation would only meet two of us – so myself and Mike were put forward to represent the small group.
We understand the BBC did an interview with Sra. Corredor inside the Embassy. The BBC then came outside and while myself and Mike were in the meeting they interviewed the other ‘protestors’ outside the Embassy.
I am sure Mike will add something to this thread following our meeting with the Government officials. I think Mike may have also spoken to the BBC after our meeting.
Kind regards
Keith
http://www.typicallyspanish.com/news/publish/article_30346.shtml
http://my.telegraph.co.uk/expat/annanicholas/10142990/buying-in-spain-is-not-as-safe-as-houses/
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OUR DAY AT THE SPANISH EMBASSY…………….
9.10am – Wed 4 May 2011
We have just been ejected from the Spanish Embassy in London.
We were very polite but the staff said to us:
“Todays event is private and by invitation only. It is to promote the Spanish Property Market to specially invited corporate investment companies. We are not here to discuss your issues. You must go through the courts. We must ask you to leave the building”
We did however leave some documentation with the staff and asked them to pass it to Sr. Blanco and Sra. Corredor.
The press conference is scheduled for 11am.
Will report more later.
Keith
***********************************************
11:30am
Nobody else here – just me and one other member of the Finca Parcs Action Group.
The Press Conference started at 11am.
We were at the main door just before the Press Conference handing out our Press Releases.
The press were very interested, especially the Spanish media and radio.
I was interviewd by El Mundo and a Spanish Radio Station.
We are doing more interviews when the Press Conference is finished.
Keith
*********************************************************
Afternoon Update:After standing outside the Spanish Embassy for almost 6 hours since being ejected early this morning and ringing the intercom and phoning them we were finally invited inside for a meeting at around 2:45pm.
The meeting was with an Embassy official and 2 representatives from the Government delegation (not Sr. Blanco or Sra. Corredor).
They listened to our views, took notes, took paperwork from us and said they were keen to work on solving the issues in the Spanish Property Sector.
We will keep in close contact with them and push them for a way forward over the next few weeks.
From previous experience we know words come easy – let us see if this time they are prepared to take action.
After today they are certainly aware of the level of feeling against the Spanish Property Market. They know that they can only move forward if they begin to tackle the problems of the past.
So after feeling very negative for most of the day we do now feel just a little tiny bit positive!
Let’s see what transpires over the next few weeks – only time will tell.
Keith
***************************************************************
Evening Update:I have learnt over the past 5 years that to get anything done in Spain you have to be persistent!!
The work with the Spanish Government has just begun!! There is much to do but we have surely made a small start today. They acknowlege us and know we exist and that we won’t just go away.
I was accompanied today by Reg – a member of the Finca Parcs Action Group.
We gave some newspaper and radio interviews in the morning to both the UK and Spanish Press. We distributed our Press Releases in English & Spanish (thanks to María de Castro for the translations).
Around midday we were joined by 5 other ‘protestors’ who were a great support. One of them was Mike who posts on EOS.
The Government delegation would only meet two of us – so myself and Mike were put forward to represent the small group.
We understand the BBC did an interview with Sra. Corredor inside the Embassy. The BBC then came outside and while myself and Mike were in the meeting they interviewed the other ‘protestors’ outside the Embassy.
I am sure Mike will add something to this thread following our meeting with the Government officials. I think Mike may have also spoken to the BBC after our meeting.
Kind regards
Keith
http://www.typicallyspanish.com/news/publish/article_30346.shtml
http://my.telegraph.co.uk/expat/annanicholas/10142990/buying-in-spain-is-not-as-safe-as-houses/
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This so called roadshow is a vain attempt to stimulate demand simply because Blanco etc say Spanish property has fallen by as much as 40%. It doesn’t inspire much confidence if they can’t mention the other issues below, and, a 40% drop in prices still means Brits are no better off financially in buying in Spain than when exchange rate was 1.60-1.70euros to the pound. The problem with their roadshow in the UK is that naive Brits could be duped into buying at the wrong time again. It’s ok to roadshow in Eurozone countries but not the UK. 🙄
They should be addressing their real issues which many have mentioned on this and other topics currently, but also to reduce their completion costs as well, taxes etc 🙄
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angie wrote:It’s ok to roadshow in Eurozone countries but not the UK. quote]
Even though I think Spain needs to boost the property market somehow, I agree with you on this, it is a good time for roadshows in the Eurozone & elsewhere and it will help Spain in the property sector, but the British will not part with their money not now or in the near future so it is a complete waste of time. As far as the Brits are concerned, once bitten twice shy…
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Link to the Government’s website on this subject:
http://www.fomento.gob.es/spanishrealestate/ -
The Spanish govt hired PR firm Burson-Marsteller to promote their road-show, the same PR firm Facebook hired to smear Google. Now looks like an unfortunate choice.
http://www.telegraph.co.uk/property/expatproperty/8512350/PR-firm-in-Facebook-controversy-promotes-real-estate-for-Spanish-government.html -
logan wrote:Snr. Blanco and his chums are a bit like the Pakistan government.
They have not a clue what’s really going on in their country and if some of them do they simply ignore it and pretend it’s not happening because it’s in their best interests so to do.
There has never been ‘transparency and legal security’ in the Spanish property market. Never has been and never will be. Why?
Like Pakistan, Spain is essentially a deeply corrupt country where the rule of law simply does not function.
These countries have a façade of respectability whilst on the ground where it matters foreigners are seen as fair game to exploit.
All Spanish property deals should like cigarettes carry a government health warning.
If you buy this property you may seriously damage your wealth.
It is said the way to make a small fortune in Spain is start with a big one.
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I am sure if we consult a lawyer to stop him entering the Country on some kind of grounds e.g he could be enticing people into a transaction that could be misleading &/or illegal.
A swithched on lawyer should be abke to dig up something. Imagine if he is refused entry into what the papers in Spain will report. I can assure you that prbebly 85% pf people have not a clue as to what is going on or had gone on.
This will also warn other Countries where his road show was suppose to be next.
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PRESS RELEASE – ISSUED: 20 June 2011 – BANK GUARANTEES IN SPAIN PETITION / FINCA PARCS ACTION GROUP
SPANISH GOVERNMENT IN DENIAL OVER THE NUMBER OF INNOCENT VICTIMS AFFECTED BY PROBLEMS IN THE PROPERTY SECTOR
BANK GUARANTEES FOR OFF-PLAN PROPERTIES IN SPAIN PETITION & FINCA PARCS ACTION GROUP CHALLENGE OFFICIAL FIGURES QUOTED BY SPANISH GOVERNMENT
As Phase One of the Spanish Government Property Road Show nears completion Keith Rule, coordinator of the Finca Parcs Action Group (http://www.fincaparcsactiongroup.com) and organiser of the Bank Guarantees In Spain Petition (http://www.bankguaranteesinspain.com) which mainly consists of British victims of the Spanish Property Scandals, is challenging official figures recently quoted by Spanish Housing Minister, Sra. Beatriz Corredor.
On 4 May 2011 for over 6 hours Keith led a group of protestors outside the Spanish Embassy in London, while inside, to a group of specially invited corporate guests, Jose Blanco and Beatriz Corredor attempted to ‘Highlight the strengths of the Spanish Economy and the transparency and legal security of buying a property in Spain’. The protestors were denied a meeting with Blanco or Corredor but were eventually granted a 45 minute discussion with two Government officials and an Embassy Representative during which they “asked questions, made notes and took paperwork” without guaranteeing they could resolve the problems.
However Keith feels it is clear from the attitude of the Government officials present at the meeting that they are in denial and are not prepared to accept the number of people affected by property scandals in Spain far exceeds their very conservative ‘official’ estimates.
In response to the protests Beatriz Corredor said “There are 850,000 Britons living in Spain and these problems apply to less than 1% of those”.
So according to Corredor there are less than 8,500 Britons affected by all property issues in Spain including Land Grab, Ley de Costas, Illegal Properties, Demolition and Off-Plan Bank Guarantee Issues.
Keith is challenging those figures, he says “The many thousands, including myself, who paid their off-plan deposits in good faith and are now experiencing Bank Guarantee problems are totally unaccounted for and not included in any property register. Therefore they cannot possibly be among Sra. Corredor’s figure of 850,000 Britons ‘Living in Spain’ as they were denied that opportunity due to the fact their properties were either not completed or in many cases not even started. There are hundreds of half finished or abandoned developments all over Spain on which purchasers are at serious risk of losing their off-plan deposits due to Developers and Banks failing to issue or honour the legally required Bank Guarantees”.
He continues, “We know there are around 100 purchasers on the Finca Parcs development with Bank Guarantee issues and for example on the abandoned Grupo Trampolin developments in Murcia alone we hear figures of around 2000 buyers who paid deposits and now have Bank Guarantee issues. As there is no official register of deposits paid by buyers of off-plan property it is difficult to gain an accurate figure of exactly the number of buyers at risk. But one thing we know for sure is that they are all additional those 8,500 with problems as quoted by Sra. Corredor”.
According to Spanish Law, LEY 57/68, ‘The money paid in advance by buyers of off-plan purchases must be received though a Bank or Savings Bank and deposited in a Special Account separate from all other funds held by the developer’. The second article of the Law states that ‘The Bank or Savings Bank that receives the off-plan deposit must, under its responsibility, demand the issuing of the corresponding Bank Guarantee’
However Keith says “Developers and banks failed to issue all the legally required Bank Guarantees and in many cases where they were issued the Banks are now refusing to honour them. Much of the money paid in advance by purchasers is totally unaccounted for and in a ‘black hole’ as many Banks allowed developers to withdraw the off-plan deposits and use the funds for purposes other than the construction of the property which is contrary to LEY 57/68”.
Beatriz Corredor says Britons will only be refunded “if the courts order it”.
In direct response Keith says “it is totally unacceptable for Sra. Corredor to force all those innocent victims of Bank Guarantee abuse into expensive legal action through the already congested Spanish Courts”.
His Finca Parcs Action Group has been forced into exactly this situation and had to instruct their litigation team at Costa Luz Lawyers to file a very expensive Lawsuit against Caja de Ahorros del Mediterráneo (CAM) and the developer Cleyton GES SL for their failure to issue the legally required Bank Guarantees on the abandoned Finca Parcs development. The Lawsuit for the first 47 group members was submitted to the court earlier this year. However, due to slow nature of the Spanish Legal system he estimates it may take 12-18 months for the group to receive a First Instance court decision.
Keith says “There are thousands of simple bank guarantee cases similar to ours where purchasers can prove their funds were paid to the Banks funding the developers, yet the Banks failed to protect the money in a Special Account and failed to issue the legally required Bank Guarantees. There are also many other cases where purchasers did receive Bank Guarantees and the developer has ceased trading or failed to provide the property on time as per the purchase contract, yet the Bank still refuses to honour the Bank Guarantee. Even these purchasers are then forced into expensive and lengthy legal action”.
He continues “Why is it necessary for these relatively simple Bank Guarantee cases to be subjected to the inadequate Spanish Legal System? The Banco de España is the Supervisor of the Spanish Banking System – they stated in their 2008 Annual Report that some banks ‘had not acted with due diligence’ – yet the Banco de España does nothing to ensure these banks act in accordance with Spanish Law, LEY 57/68”.
In the UK relatively simple cases such as this would be dealt with by the Financial Ombudsman Service and only in the more complex cases would it be necessary for buyers to resort to the courts.
The Bank Guarantees In Spain Petition is calling on the Spanish Government to set up ‘fast track courts’ or an Ombudsman to deal with the thousands of outstanding Bank Guarantee cases. It also calls for the Banco de España to be given powers, surprisingly lacking at present, to review cases and force the banks that it supervises to issue refunds.
Spanish President, Zapatero said on 6 July 2010 in the European Parliament:
“My country is based on the rule of law and it respects and ensures that laws are respected. The courts are responsible for the application of law. We stand shoulder to shoulder with those people who, maybe, have had the wool pulled over their eyes (deceived) in the Spanish Property Sector” – but Keith says, “What has he done to address the issues?”
Sra. Corredor – when previewing the current Property Road Shows said: “Come here calmly and trust in the system that we have and the transparency we provide”.
There are thousands of victims of corruption in the Spanish Property Sector for whom there was and still is no transparency.
The online Bank Guarantees In Spain Petition is gathering detailed evidence relating to corrupt Developers and negligent Estate Agents, Banks & Lawyers. This evidence, together with the full text of the Petition will be presented to the Spanish Government and other official bodies in Spain and the UK later this year. So if you are at risk of losing your Spanish Off-Plan Property deposit please go to http://www.bankguaranteesinspain.com and join the Petition.
Over 1200 innocent victims of the Spanish Housing Market many of whom have found absolutely no justice despite suffering years of expensive and stressful legal action through the inadequate Spanish Justice System have also recently signed Ruth Genda’s online ‘Stop The Spanish Property Road Show’ Petition which is designed as an open letter to UK MP, David Lidington, Minister for Europe.
The only way Spain can rebuild confidence in its battered Property Sector is if the Spanish Government takes notice of the Petitions and Protests and begins to address the serious injustices that have occurred over the past 10 years and puts measures in place to ensure Banks, Developers, Agents and Lawyers can never be allowed to have such a blatant disregard for Spanish Law ever again.
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Additional Information
Bank Guarantees In Spain Petition
http://www.bankguaranteesinspain.comStop The Spanish Property Road Show Petition
http://www.gopetition.com/petitions/stop-the-spanish-property-roadshow-open-letter-to-davi.htmlFinca Parcs Action Group
http://www.fincaparcsactiongroup.comFor more information please contact:
Keith Rule
Organiser of the Bank Guarantees In Spain Petition & Coordinator of the Finca Parcs Action Group,
info@bankguaranteesinspain.com info@fincaparcsactiongroup.comNotes to Editors:
The Las Higuericas Finca Parcs development is in Agramon, near Hellín.
Off-Plan deposits were first accepted in 2005 and 5 years later in 2009 it was abandoned by the developer, Cleyton GES SL with only 36 of the 617 houses completed. However even those 36 properties do not have First Occupation Licences.
The Finca Parcs Action Group is made up of a total of 64 buyers who paid their off-plan deposits to the Caja de Ahorros del Mediterráneo accounts of the developer Cleyton GES SL. The developer and CAM failed to issue the legally required Bank Guarantees for the deposits.
A Lawsuit against CAM and Cleyton GES SL was submitted to the court in February 2011 for the first 47 group members.
A second Lawsuit is currently being prepared for the remaining group members.
Finca Parcs Action Group is legally represented by María Luisa de Castro, Director of Costa Luz Lawyers in Algeciras.
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“There are 850,000 Britons living in Spain and these problems apply to less than 1% of those”.
1% or 8500, to many.
“Developers and banks failed to issue all the legally required Bank Guarantees and in many cases where they were issued the Banks are now refusing to honour them.”
That is the law. If they have failed to do so. They are in breach. No if & buts. The Developers may be insolvent & it is for this reason the guarnatree is there.
“Banks allowed developers to withdraw the off-plan deposits and use the funds for purposes other than the construction of the property which is contrary to LEY 57/68”.
This means that the banks have been a party to it & as it is against the law. They should honour the guarantee. No if & buts.
“if the courts order it”.
Apart from the time. The Banks will bribe the judge & or appeal it.“the first 47 group members was submitted to the court earlier this year. However, due to slow nature of the Spanish Legal system he estimates it may take 12-18 months for the group to receive a First Instance court decision “.
Justice delayed is justice denied. This excatly what the Government wants.
”.In the UK relatively simple cases such as this would be dealt with by the Financial Ombudsman Service and only in the more complex cases would it be necessary for buyers to resort to the courts “
The Financial Ombudsman in UK is ok in so far small claims for compentsation etc. Anything serious they just cannot resolve the issue & invariably favour the banks. I can say this with personal experience. I have had some nine cases with them & only one went in my favour. which was a clerical error in placing my name with the credit agencies.
Infact the reason I even went to them in the first place was that if & when I go to the Courts
I am expected to have to go to Ombudsman first.“Spanish Government to set up ‘fast track courts’ or an Ombudsman to deal with the thousands of outstanding Bank Guarantee cases.”
How & where are they going to get the judges to preside over these cases and will they have adequately trained judges even with Spanish standards.
Sra. Corredor – “Come here calmly “
Indeed & go back cleaned up by all & sundrry.
“There are thousands of victims of corruption in the Spanish Property Sector for whom there was and still is no transparency “
Denial, is the word. If this was not the case the matter would have looked at long time ago.
The only way Spain can rebuild confidence is by compensating all & sundry, apology, take measure to beef up all institutions, accountabilty the biggest culprits are the Notaries who are getting scott free. How can they establish a legal document whose basis are illegal. The Government to establish a guarantee fund for future issues & this has to be monitered by an indepdent body outside Spain as no one in Spain can be trusted at any level. The Spanish ego will not allow this and I can understand being a soveirgn state. Sorry, but they are to be blamed as it has shown from the past.
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The simplest method for Spain to regain some public confidence in the property market is pass legislation making buying off plan properties illegal.
I know this will not help people who have suffered loss. They should be compensated and a condition made that financial support to the banks both by central government and the ECB be conditional upon them (the banks) honouring their guarantees.
Trying to influence the Spanish government however or expecting justice from the courts is I am afraid like knitting fog. Impossible. -
@logan wrote:
Trying to influence the Spanish government however or expecting justice from the courts is I am afraid like knitting fog. Impossible.
And ditto the UK government, given the story of the poor old pensioner who was recently featured on BBC Radio 4 and throughout the national UK press, as having been duped out of this entire life savings, by companies high pressure selling him investment strips / plots of land on the proposition that this would move from agricultural to urban zoning thereby returning huge profits. His investments of more than £100,000 are worth less than £100 but nothing to stop anyone going and selling him the same concept again today!
There is no influence on a UK government that supports these ‘entrepreneurial’ companies, making them entirely legal and the courts who have not stopped their activity, it’s the same old deal everywhere really, knitting fog is as often correct in the UK as it is in Spain, so lets not go overboard here.
Spain of course has to put these issues right and learn the lessons which have so seriously hurt and damaged their market now with massive loss of confidence and trust, but lets also be practical, there are abuses of the system, situation, and inadequate action by the courts in every country, including our own.
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@Chris McCarthy wrote:
@logan wrote:
Trying to influence the Spanish government however or expecting justice from the courts is I am afraid like knitting fog. Impossible.
And ditto the UK government, given the story of the poor old pensioner who was recently featured on BBC Radio 4 and throughout the national UK press, as having been duped out of this entire life savings, by companies high pressure selling him investment strips / plots of land on the proposition that this would move from agricultural to urban zoning thereby returning huge profits. His investments of more than £100,000 are worth less than £100 but nothing to stop anyone going and selling him the same concept again today!
There is no influence on a UK government that supports these ‘entrepreneurial’ companies, making them entirely legal and the courts who have not stopped their activity, it’s the same old deal everywhere really, knitting fog is as often correct in the UK as it is in Spain, so lets not go overboard here.
Spain of course has to put these issues right and learn the lessons which have so seriously hurt and damaged their market now with massive loss of confidence and trust, but lets also be practical, there are abuses of the system, situation, and inadequate action by the courts in every country, including our own.
But isn’t the biggest difference here that in Spain even though you get them to court more then often they favour the fraudesters. In UK the problem is that its so hard to get a hold of certain individuals. In Spain many peoples feelings are that even the government is in on it.
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Written by RTN Reporter
Thursday, 08 September 2011
Oh no not again: The Property Road Show goes back on the road
DESPITE PUBLIC criticism over its ‘Property Road Show’ in May this year and property experts cringing in disbelief, the Ministry for Development intends to repeat the tour of European capitals in a bid to sell some of Spain’s unsold property stock.
The May attempt at marketing Spanish properties was a fiasco and brought scathing headlines and also a petition to bring the road show to a halt with advice NOT to buy in Spain’s ‘unstable market’ – the exact opposite of the desired result! Minister José Blanco will again take part in the tour, accompanied by real estate companies and banks. The second tour is to begin in Germany, visiting the same countries as before: the UK, France, Holland and Sweden.
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Latest Statement from the Spanish Government regarding Phase 2 (Commercial Stage) of the Spanish Property Road Show:
Commercial Stage
The Ministry of Public Works through the State Secretary for Housing and Urban Affaire, along with the Spanish Institute for Foreign Trade (ICEX), organizes a series of technical conferences with Spanish developers and financial institutions to give them the opportunity to show their product portfolio to international investors.
These conferences and meetings will take place in Germany, United Kingdom, Sweden, France and The Netherlands, with the aim of facilitating contacts between Spanish developers and real estate divisions of financial institutions and real estate agents and intermediaries of these countries.
This so-called commercial stage gives continuity and coherence to the message already given during the institutional stage in the aforementioned destinations, and it’s a good opportunity to show different quality real estate products.
Only participants that fulfil strict legal and quality criteria are allowed to take part in these events. The Spanish companies participating in the conferences will present a certificate of compliance of the standards fixed, by an international consultant of renowned business prestige.
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LATEST INFO FROM THE SPANISH GOVERNMENT WEBSITE – NOT SURE IF THIS IS 100% CONFIRMED YET – SO PLEASE DON’T MAKE TRAVEL PLANS BASED ON THIS INFO YET!
SEGUNDA FASE DE LA RONDA INTERNACIONAL DE PROMOCIÓN INMOBILIARIA
The Ministry of Development through the Ministry of Housing and Urban Projects in collaboration with the Spanish Institute of Foreign Trade announce in the context of the Second Phase of the International Property Tour, a Technical Meeting on Spanish Real Estate Development to be held in the UK.
The objective of this seminar is to connect developers and real estate divisions of Spanish financial institutions with industry professionals in the UK and allow the collective presence of the Spanish companies in the main event now in the UK aimed at ultimate purchaser and investors.
The Technical Seminar will consist of three elements:
• Collective presence at the show Property Investor Show & OPP Live 2011 through the Official Spanish Pavilion on 13 to 15 October
• Action networking among participants restricted to Spanish and English professionals that will be held at the Embassy of Spain in London on 13 October
• Institutional presentation by Secretary of State for Housing of the Spanish sector aimed at local professionals on 14 October
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Translated into English from the original Spanish Version:
PRESS RELEASE ISSUED ON 15 SEPTEMBER 2011 BY:
GOVERNMENT OF SPAIN
MINISTERIO DE FOMENTO
OFICINA DE INFORMACIÓNSpain presents a selection of Real Estate Products in Hamburg
In 2010, homeownership in Spain by German citizens increased by 13.1% over the previous year.
• Fifteen companies and financial institutions presented a sample of their housing stock, mainly holiday homes, aimed at German real estate professionals and brokers.
• The Ministry of Development in Germany starts the second phase of the international tour to promote foreign investment in the housing market in Spain.
Thursday, September 15, 2011
In Hamburg today, a delegation of fifteen promoters and Spanish financial institutions presents a sample of homes they have in stock, in a conference aimed at professionals and intermediaries in the German real estate.
With this meeting, the Ministry of Development, in collaboration with the Spanish Foreign Trade Institute (ICEX) in Germany started the second phase of the international tour that began in May to publicize the situation of the housing market in Spain, price adjustments, the available housing stock and legislative reforms implemented by the Government of Spain.
Secretary of State for Housing, Beatriz Corredor, who has accompanied the Spanish businesses, explained that the objective of this initiative is to “restore the channels of communication, distribution and marketing companies have lost during the crisis with the main markets with an interest in vacation homes, representing one third of the total housing in Spain.”
Housing prices in Spain are down 17% on average and 22% in real terms from their peaks, but in some areas, especially in the most popular for vacation homes, falls ranged between 30% and 40%. The available housing stock, which in 2010 began to decline, is 687,000 units, 47% of which is located on the Mediterranean coast.
In addition, the Government of Spain has approved a tax rebate for the purchase of new housing, which until December 31, 2011 will be taxed at a rate of 4% instead of 8%. Also, recently approved are new measures to increase transparency, guarantees and certainty in the Spanish property sector.
“This, coupled with competitive advantages that have characterized Spain as secure, geographic proximity, good climate, quality of life, universal public services of high quality and totally renovated transport network in our country has placed Spain as an ideal destination for investment at this time,” assured Corridor
According to recent data, Germany is one of the European countries with greater investment in Spain in 2010, home purchases by citizens Germans last year in our country increased by 13.1% over the previous one. In addition more than 8.8 million German tourists, 16.7% of the total, visited Spain in 2010, being the largest group of tourists behind only the British.
Housing characteristics
In this second phase, companies and entities have submitted a sample of about 4,000 homes. All of them have undergone a process of evaluation by recognized agencies, international valuation standards recognizable in all markets, all attesting to their characteristics, from quality to urban status, to the location (distance from the coast to the nearest airport, health services and leisure, etc.)..
Most of these houses are for holiday use and are distributed throughout Spain, mainly in the most popular destinations for foreign buyers, such as the Canary and Balearic Islands and in the regions of Catalonia, Valencia, Andalusia and Murcia or other areas such as Galicia and Cantabria. They also presented a selection of housing for main residence in big cities like Madrid and Barcelona.
The type of housing ranges from apartments, presented block houses and terraced houses. They are located both on serviced and unserviced developments and also within their own cities.
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Did Michael Cashman ever get a reply to his letter and did he publish it? As a prospective buyer in Spain I read all these horror stories about owners being cheated out of their property investment and wonder what percentage of the owners in Southern Spain fall into this category. Surely there are owners whose buying experience went smoothly? It would be educational to find out what they did and what pitfalls they avoided.
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Did Michael Cashman ever get a reply to his letter and did he publish it? As a prospective buyer in Spain I read all these horror stories about owners being cheated out of their property investment and wonder what percentage of the owners in Southern Spain fall into this category. Surely there are owners whose buying experience went smoothly? It would be educational to find out what they did and what pitfalls they avoided.
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SEGUNDA FASE DE LA RONDA INTERNACIONAL DE PROMOCIÓN INMOBILIARIA
Spanish Government Property Road Show
PHASE 2It is scheduled to be a 3 day visit to the UK from 13 to 15 October 2011 with various presentations and networking events at the Spanish Embassy in London.
The Spanish Government approved companies will be exhibiting their real estate and financial products in the ‘OFFICIAL SPANISH PAVILION’ on the 3 days of the Property Investor Show OPP Live at Excel London with the full backing and support of the Spanish Government.
OPP Live – ExCeL – London Docklands
ExCel, Royal Victoria Dock, London E16 1XLThursday 13th Oct. 10am-6pm
Friday 14th Oct. 10am-6pm
Saturday 15th Oct. 10.30am-5.00pmAlso the Spanish Secretary of State for Housing – Sra. Beatriz Corredor will conduct a free 30 minute seminar at OPP Live on 13 October at 3:15pm.
Here are the seminar details as issued by the Spanish Government and OPP Live:
Investment opportunities in the Spanish Real Estate Sector
Date: Thursday 13-10-2011
Room: 3
Time: 15:15
Duration: 30 mins
Cost: £0.00This presentation by the Spanish Secretary of State will focus on why Spain is an attractive place to invest, as the strong commercial relations between United Kingdom and Spain show.
More precisely, it will explain why NOW is the optimum time to invest in the real estate sector in Spain, with an overview of the Government measures put in place to promote this type of investment.
Beatriz Corredor Sierra
Spanish Secretary of State for Housing and Urban Development since 2008, Beatriz was born in Madrid on 1 July 1968.
She holds a Law Degree from Madrid´s Autonomous University, she is a Notary Public and belongs to the Association of Property Registrars.
She was the first woman to hold the position of Vocal-Registrar at the Board of Competitive Examinations to the Association of Property and Trade Registrars of Spain during 2005 and 2006.
Beatriz joined the PSOE (Spanish Socialist Workers´ Party) in 2003, and was elected city councilor of Madrid´s Town Hall in September 2007, where she remained in office till she became a member of the Spanish Government in 2008
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SEGUNDA FASE DE LA RONDA INTERNACIONAL DE PROMOCIÓN INMOBILIARIA
Spanish Government Property Road Show
PHASE 2It is scheduled to be a 3 day visit to the UK from 13 to 15 October 2011 with various presentations and networking events at the Spanish Embassy in London.
The Spanish Government approved companies will be exhibiting their real estate and financial products in the ‘OFFICIAL SPANISH PAVILION’ on the 3 days of the Property Investor Show OPP Live at Excel London with the full backing and support of the Spanish Government.
OPP Live – ExCeL – London Docklands
ExCel, Royal Victoria Dock, London E16 1XLThursday 13th Oct. 10am-6pm
Friday 14th Oct. 10am-6pm
Saturday 15th Oct. 10.30am-5.00pmAlso the Spanish Secretary of State for Housing – Sra. Beatriz Corredor will conduct a free 30 minute seminar at OPP Live on 13 October at 3:15pm.
Here are the seminar details as issued by the Spanish Government and OPP Live:
Investment opportunities in the Spanish Real Estate Sector
Date: Thursday 13-10-2011
Room: 3
Time: 15:15
Duration: 30 mins
Cost: £0.00This presentation by the Spanish Secretary of State will focus on why Spain is an attractive place to invest, as the strong commercial relations between United Kingdom and Spain show.
More precisely, it will explain why NOW is the optimum time to invest in the real estate sector in Spain, with an overview of the Government measures put in place to promote this type of investment.
Beatriz Corredor Sierra
Spanish Secretary of State for Housing and Urban Development since 2008, Beatriz was born in Madrid on 1 July 1968.
She holds a Law Degree from Madrid´s Autonomous University, she is a Notary Public and belongs to the Association of Property Registrars.
She was the first woman to hold the position of Vocal-Registrar at the Board of Competitive Examinations to the Association of Property and Trade Registrars of Spain during 2005 and 2006.
Beatriz joined the PSOE (Spanish Socialist Workers´ Party) in 2003, and was elected city councilor of Madrid´s Town Hall in September 2007, where she remained in office till she became a member of the Spanish Government in 2008
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Spanish Minister at OPPLive as home sales plummet
04 October 2011 13:07Home sales dropped 3% year-on-year in Spain during Q2 2011 to lowest quarterly figure on record according to the latest information from the Spanish Land Registry.
In total, just over 85,000 homes were sold in Q2, down 32% compared to Q1 this year.
On a 12-month basis, just over 400,000 Spanish residential units were sold to the end of Q2, fewer than half of the one million property sales recorded at the peak of the market during the 12 months to the end of Q1 2006.
According to the Land Registry report, “the trend shows continuity towards a deterioration in real estate activity in the last quarter, as we warned in previous quarters.”
The news comes as Spain’s housing minister Beatriz Corredor is set to give a high-profile speech at next week’s Property Investor Show & OPP Live in a bid to persuade investors to return to Spain, which currently has a stock of around 700,000 unsold homes.
She recently urged potential investors to “come [to Spain] calmly and trust in the system we have and the transparency we provide”.
The ministry’s involvement is part of an agreement with the Spanish Institute of Foreign Trade to launch Spain Invest at the show, an initiative to showcase Spain’s market and overseas property businesses to a wider audience.
Spanish authorities, however, hope that a recent boom in tourism levels may eventually translate into greater demand for holiday homes in Spain, which have fallen in value by up to 70% across some parts of the country in the past four years.
The number of international tourists in Spain rose to a record high of 7.6m in August, up 9.4% year-on-year, according to a survey by FRONUR, which monitors tourist activity.
In the most recent 12-month period more than 40m tourists have gone to Spain, up 7.8% compared to the previous 12 months, making the country the fourth most-visited country in the world.
The survey found that 23% of all Spain’s visitors during the first 7 months of 2011 were British with Germany contributing 18% of all tourists. France, the Scandinavian countries and the USA were all major contributors.
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Spanish Minister at OPPLive as home sales plummet
04 October 2011 13:07Home sales dropped 3% year-on-year in Spain during Q2 2011 to lowest quarterly figure on record according to the latest information from the Spanish Land Registry.
In total, just over 85,000 homes were sold in Q2, down 32% compared to Q1 this year.
On a 12-month basis, just over 400,000 Spanish residential units were sold to the end of Q2, fewer than half of the one million property sales recorded at the peak of the market during the 12 months to the end of Q1 2006.
According to the Land Registry report, “the trend shows continuity towards a deterioration in real estate activity in the last quarter, as we warned in previous quarters.”
The news comes as Spain’s housing minister Beatriz Corredor is set to give a high-profile speech at next week’s Property Investor Show & OPP Live in a bid to persuade investors to return to Spain, which currently has a stock of around 700,000 unsold homes.
She recently urged potential investors to “come [to Spain] calmly and trust in the system we have and the transparency we provide”.
The ministry’s involvement is part of an agreement with the Spanish Institute of Foreign Trade to launch Spain Invest at the show, an initiative to showcase Spain’s market and overseas property businesses to a wider audience.
Spanish authorities, however, hope that a recent boom in tourism levels may eventually translate into greater demand for holiday homes in Spain, which have fallen in value by up to 70% across some parts of the country in the past four years.
The number of international tourists in Spain rose to a record high of 7.6m in August, up 9.4% year-on-year, according to a survey by FRONUR, which monitors tourist activity.
In the most recent 12-month period more than 40m tourists have gone to Spain, up 7.8% compared to the previous 12 months, making the country the fourth most-visited country in the world.
The survey found that 23% of all Spain’s visitors during the first 7 months of 2011 were British with Germany contributing 18% of all tourists. France, the Scandinavian countries and the USA were all major contributors.
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Some of the Spanish Government approved companies who will be exhibiting their portfolios in the Spanish Pavilion at OPP Live are:
Banca Civica
Bancaja
Caixa Catalunya
Banco Pastor
Cimenta2 Gestion
Live in Spain
Marina D’Or
Anyone who has a Bank Guarantee issue with any of the 4 Banks named at the top of the list may wish to attend the show and challenge the banks concerned.
Kind regards
Keith
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Some of the Spanish Government approved companies who will be exhibiting their portfolios in the Spanish Pavilion at OPP Live are:
Banca Civica
Bancaja
Caixa Catalunya
Banco Pastor
Cimenta2 Gestion
Live in Spain
Marina D’Or
Anyone who has a Bank Guarantee issue with any of the 4 Banks named at the top of the list may wish to attend the show and challenge the banks concerned.
Kind regards
Keith
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SPANISH GOVERNMENT PROPERTY ROAD SHOW PHASE 2 IN SWEDEN – 5 OCTOBER 2011
PRESS RELEASE ISSUED BY SPANISH GOVERNMENT – 5 OCTOBER 2011 – ENGLISH TRANSLATION
Corredor supports Spanish Real Estate companies to strengthen business relationships in Sweden
Swedish citizens are among the major foreign buyers of property in Spain
The Secretary of State for Housing accompanies a business delegation on the second phase of the international Road Show to explain the evolution of the housing market situation in Spain and the reforms undertaken by the Spanish Government
Wednesday, October 5, 2011
A delegation of fifteen promoters and Spanish financial institutions held a meeting with investors, estate agents and brokers in Stockholm, Sweden to enhance trade relations between both countries in this sector, especially in the field of holiday homes.
Secretary of State for Housing, Beatriz Corredor, who has accompanied the Spanish business, explained that the objective of this initiative is to “restore the channels of communication and marketing that companies have lost during the crisis with the main markets with interest in vacation homes which represents one third of the total housing in Spain”
With this meeting in Sweden, the Ministry of Development, continues the second phase of the international Road Show tour that began in May to publicize the situation of the housing market in Spain, the price adjustments, the available housing stock and legislative reforms implemented by the Government of Spain.
Housing prices in Spain are down 17% on average and 22% in real terms from their peaks, but in some areas, especially in the most popular for holiday homes, the reduction ranged between 30% and 40%. The available housing stock, which began to decline in 2010, is 687,000 units, 47% of which is located on the Mediterranean coast.
In addition, the Government of Spain has approved a tax rebate for the purchase of new housing that until December 31, 2011 will be taxed at a rate of 4% instead of 8%. Also approved recently were new measures to increase transparency, guarantees and certainty in the Spanish property sector.
According to the latest data available, the purchase of homes by Swedish citizens in Spain increased by 105% in 2010 compared to 2009 and accounted for 4.36% of purchases made by foreigners. In addition, last year 1,112,561 Swedish tourists visited Spain, which represents more than 10% of the total population.
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SPANISH GOVERNMENT PROPERTY ROAD SHOW PHASE 2 IN SWEDEN – 5 OCTOBER 2011
PRESS RELEASE ISSUED BY SPANISH GOVERNMENT – 5 OCTOBER 2011 – ENGLISH TRANSLATION
Corredor supports Spanish Real Estate companies to strengthen business relationships in Sweden
Swedish citizens are among the major foreign buyers of property in Spain
The Secretary of State for Housing accompanies a business delegation on the second phase of the international Road Show to explain the evolution of the housing market situation in Spain and the reforms undertaken by the Spanish Government
Wednesday, October 5, 2011
A delegation of fifteen promoters and Spanish financial institutions held a meeting with investors, estate agents and brokers in Stockholm, Sweden to enhance trade relations between both countries in this sector, especially in the field of holiday homes.
Secretary of State for Housing, Beatriz Corredor, who has accompanied the Spanish business, explained that the objective of this initiative is to “restore the channels of communication and marketing that companies have lost during the crisis with the main markets with interest in vacation homes which represents one third of the total housing in Spain”
With this meeting in Sweden, the Ministry of Development, continues the second phase of the international Road Show tour that began in May to publicize the situation of the housing market in Spain, the price adjustments, the available housing stock and legislative reforms implemented by the Government of Spain.
Housing prices in Spain are down 17% on average and 22% in real terms from their peaks, but in some areas, especially in the most popular for holiday homes, the reduction ranged between 30% and 40%. The available housing stock, which began to decline in 2010, is 687,000 units, 47% of which is located on the Mediterranean coast.
In addition, the Government of Spain has approved a tax rebate for the purchase of new housing that until December 31, 2011 will be taxed at a rate of 4% instead of 8%. Also approved recently were new measures to increase transparency, guarantees and certainty in the Spanish property sector.
According to the latest data available, the purchase of homes by Swedish citizens in Spain increased by 105% in 2010 compared to 2009 and accounted for 4.36% of purchases made by foreigners. In addition, last year 1,112,561 Swedish tourists visited Spain, which represents more than 10% of the total population.
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SPANISH GOVERNMENT PROPERTY ROAD SHOW
‘More than one Spanish bank sees the sharp-suited foreigners arriving at their doors as vultures trying to take advantage of a wider crisis in the eurozone to snatch away investments that will eventually turn good.’ – FT today – this is how Spanish banks perceive the very people they are begging to buy their glut of properties!
These banks have defrauded thousands of us of millions of euros, whilst their government sit back and watch. Many of us have been fighting for 5 or 6 years for the return of deposits which have been wrongfully retained by banks who fraudulently refuse to honour guarantees or have taken our money and failed in their legal responsibility to arrange the obligatory guarantees.
There is an opportunity next week to confront some of these banks or the Spanish Housing Minister or representatives of the Spanish Ministry of Infrastructure or the Spanish Institute for Foreign Trade (ICEX). This is an opportunity not to be missed and one which will not be repeated. Please do not miss out!
We are asking a number of MP’s/MEP’s to attend the show and meet face to face with Spanish Ministers and question them as to why they allow the abuses to continue. Some of these will attend and are asking for as much support as possible from us, the victims. Please give them your support by registering and attending the show, and also registering for the Beatriz Corredor presentation on Thursday at 3:15pm.
You can find details and register for the show and seminar at:
http://www.propertyinvestor.co.uk/london/seminar_detail.asp
We have waited a very long time for this opportunity – Please be there and let the Spanish know how you feel! Anyone who has a breached purchase contract and a failed bank guarantee please bring copies to show – those 2 documents speak volumes.
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SPANISH GOVERNMENT PROPERTY ROAD SHOW
‘More than one Spanish bank sees the sharp-suited foreigners arriving at their doors as vultures trying to take advantage of a wider crisis in the eurozone to snatch away investments that will eventually turn good.’ – FT today – this is how Spanish banks perceive the very people they are begging to buy their glut of properties!
These banks have defrauded thousands of us of millions of euros, whilst their government sit back and watch. Many of us have been fighting for 5 or 6 years for the return of deposits which have been wrongfully retained by banks who fraudulently refuse to honour guarantees or have taken our money and failed in their legal responsibility to arrange the obligatory guarantees.
There is an opportunity next week to confront some of these banks or the Spanish Housing Minister or representatives of the Spanish Ministry of Infrastructure or the Spanish Institute for Foreign Trade (ICEX). This is an opportunity not to be missed and one which will not be repeated. Please do not miss out!
We are asking a number of MP’s/MEP’s to attend the show and meet face to face with Spanish Ministers and question them as to why they allow the abuses to continue. Some of these will attend and are asking for as much support as possible from us, the victims. Please give them your support by registering and attending the show, and also registering for the Beatriz Corredor presentation on Thursday at 3:15pm.
You can find details and register for the show and seminar at:
http://www.propertyinvestor.co.uk/london/seminar_detail.asp
We have waited a very long time for this opportunity – Please be there and let the Spanish know how you feel! Anyone who has a breached purchase contract and a failed bank guarantee please bring copies to show – those 2 documents speak volumes.
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Perhaps I have missed a post about it, but I wonder if there is any plan to protest/picket the Spanish Pavilion during the show. Challenging the presenters during presentations is of course an excellent idea; it also seems that a highly visible protest line with signs and chanting outside the Spanish Pavilion would damage the false aura of security with which they are attempting to imbue property transactions. I’m not familiar with how these things are done in England — in the U.S. we just show up and so long as we’re nonviolent we usually don’t get arrested. Sometimes it is especially effective to have persons in wheelchairs or the elderly holding signs and chanting as the police treat them more respectfully (at least here). Is there any talk of doing such a thing? I’m too far away (Seattle) and focused on our protests here. But it does sound like a golden opportunity to create a consequence for those who are using the roadshow to lie to prospective victims. Why let buyers even walk into the building without first hearing the truth from those who know it?
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Perhaps I have missed a post about it, but I wonder if there is any plan to protest/picket the Spanish Pavilion during the show. Challenging the presenters during presentations is of course an excellent idea; it also seems that a highly visible protest line with signs and chanting outside the Spanish Pavilion would damage the false aura of security with which they are attempting to imbue property transactions. I’m not familiar with how these things are done in England — in the U.S. we just show up and so long as we’re nonviolent we usually don’t get arrested. Sometimes it is especially effective to have persons in wheelchairs or the elderly holding signs and chanting as the police treat them more respectfully (at least here). Is there any talk of doing such a thing? I’m too far away (Seattle) and focused on our protests here. But it does sound like a golden opportunity to create a consequence for those who are using the roadshow to lie to prospective victims. Why let buyers even walk into the building without first hearing the truth from those who know it?
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Written by Jack Troughton – ROUND TOWN NEWS
Thursday, 13 October 2011
Minister on board
MINISTER FOR Europe David Lidington has pledged his support in seeking solutions to Spanish property abuses after meeting a deputation of British victims.The talks were held at the Foreign and Commonwealth Office in London and it was an opportunity for the politician to learn first hand of the problems, frustrations and anguish suffered by some British purchasers.
Central to the one-off meeting with Mr Lidington was the controversial Spanish property road show – starting its second phase in the UK yesterday (Thursday) as RTN went to press – and the failure to honour legally required bank guarantees for off-plan property purchasers.
And meeting the Minister to demand action was Keith Rule, organiser of the Bank Guarantee in Spain Petition, Ruth Genda, responsible for the ‘Stop the Spanish Roadshow Petition’, together with Mike Kerr and Kafo Genda.
The on-line petitions were signed by thousands of people and outlined the anger and frustration of the victims.
Mr Lidington emphasised the Government was concerned about the impact problems were having on British citizens and said Ministers and the Ambassador would continue to raise property issues with Spain’s government.
He stressed the best advice he could give prospective purchasers was that they should do their research and seek appropriate legal advice.PREVENT
But the minister underlined that the Government could not prevent Spain from encouraging investment in its property market.
Mr Lidington said: “I advise anyone considering buying a property abroad to do your research, learn about what documentation you must have in hand, and make sure you seek independent legal advice from a lawyer who is experienced in property law.”
Afterwards Ruth Genda commented: “The Minister and his team seemed genuinely surprised when Keith brandished the dossier of evidence gathered on behalf of the Finca Parcs Action Group. This dossier was shown to the Minister as an example of the terrible situation that can occur when both the developer and the bank fail to act in accordance with Spanish law relating to bank guarantees for off-plan purchases.”
The minister was given a 200-page file containing hard evidence of the failure of banks and institutions, along with the Spanish government and the European Parliament.
Ruth added: “These are necessary pieces of evidence to help the Minister see through the smoke-and-mirrors fabrications of the Spanish government and enable him to get at the truth and reality of these dreadful situations in which we find ourselves”.DOSSIER
“If he and his team are not able to help us after reading through this dossier then we know exactly where we stand.”
Keith Rule’s action group was formed by 64 buyers of homes on the Finca Parcs development near Hellin, Spain, and is made up of 64 buyers who paid deposits but were never issued with legally required guarantees – the project was abandoned with only 36 of 617 houses completed.
After meeting Mr Lidington, Keith said: “It was a positive step forward and we now have some valuable contacts within the foreign Office, the Overseas Property Office in London and the British Embassy in Madrid.
Mr Lidington seemed keen to assist us in his role as Minister for Europe and only time will tell if he is able to deliver on his promises.”Undertakings given by the Minister included raising the issue of bank guarantees with the Spanish government at every opportunity and the possibility of organising a meeting between the Bank Guarantees Action Group and the Bank of Spain.
He also promised he would advise UK MEPs to create a formal cross-party working group to examine property issues in Spain, and said he would talk with Deputy Prime Minister Nick Clegg who might be able to assist through his personal knowledge and experience of Spain.
Additional Information: Bank Guarantees in Spain Petition – http://www.bankguaranteesinspain.com
Stop The Spanish Property Road Show Petition
http://www.gopetition.com/petitions/stop-the-spanish-property-roadshow-open-letter-to-davi.htmlFinca Parcs Action Group – http://www.fincaparcsactiongroup.com
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Written by Jack Troughton – ROUND TOWN NEWS
Thursday, 13 October 2011
Minister on board
MINISTER FOR Europe David Lidington has pledged his support in seeking solutions to Spanish property abuses after meeting a deputation of British victims.The talks were held at the Foreign and Commonwealth Office in London and it was an opportunity for the politician to learn first hand of the problems, frustrations and anguish suffered by some British purchasers.
Central to the one-off meeting with Mr Lidington was the controversial Spanish property road show – starting its second phase in the UK yesterday (Thursday) as RTN went to press – and the failure to honour legally required bank guarantees for off-plan property purchasers.
And meeting the Minister to demand action was Keith Rule, organiser of the Bank Guarantee in Spain Petition, Ruth Genda, responsible for the ‘Stop the Spanish Roadshow Petition’, together with Mike Kerr and Kafo Genda.
The on-line petitions were signed by thousands of people and outlined the anger and frustration of the victims.
Mr Lidington emphasised the Government was concerned about the impact problems were having on British citizens and said Ministers and the Ambassador would continue to raise property issues with Spain’s government.
He stressed the best advice he could give prospective purchasers was that they should do their research and seek appropriate legal advice.PREVENT
But the minister underlined that the Government could not prevent Spain from encouraging investment in its property market.
Mr Lidington said: “I advise anyone considering buying a property abroad to do your research, learn about what documentation you must have in hand, and make sure you seek independent legal advice from a lawyer who is experienced in property law.”
Afterwards Ruth Genda commented: “The Minister and his team seemed genuinely surprised when Keith brandished the dossier of evidence gathered on behalf of the Finca Parcs Action Group. This dossier was shown to the Minister as an example of the terrible situation that can occur when both the developer and the bank fail to act in accordance with Spanish law relating to bank guarantees for off-plan purchases.”
The minister was given a 200-page file containing hard evidence of the failure of banks and institutions, along with the Spanish government and the European Parliament.
Ruth added: “These are necessary pieces of evidence to help the Minister see through the smoke-and-mirrors fabrications of the Spanish government and enable him to get at the truth and reality of these dreadful situations in which we find ourselves”.DOSSIER
“If he and his team are not able to help us after reading through this dossier then we know exactly where we stand.”
Keith Rule’s action group was formed by 64 buyers of homes on the Finca Parcs development near Hellin, Spain, and is made up of 64 buyers who paid deposits but were never issued with legally required guarantees – the project was abandoned with only 36 of 617 houses completed.
After meeting Mr Lidington, Keith said: “It was a positive step forward and we now have some valuable contacts within the foreign Office, the Overseas Property Office in London and the British Embassy in Madrid.
Mr Lidington seemed keen to assist us in his role as Minister for Europe and only time will tell if he is able to deliver on his promises.”Undertakings given by the Minister included raising the issue of bank guarantees with the Spanish government at every opportunity and the possibility of organising a meeting between the Bank Guarantees Action Group and the Bank of Spain.
He also promised he would advise UK MEPs to create a formal cross-party working group to examine property issues in Spain, and said he would talk with Deputy Prime Minister Nick Clegg who might be able to assist through his personal knowledge and experience of Spain.
Additional Information: Bank Guarantees in Spain Petition – http://www.bankguaranteesinspain.com
Stop The Spanish Property Road Show Petition
http://www.gopetition.com/petitions/stop-the-spanish-property-roadshow-open-letter-to-davi.htmlFinca Parcs Action Group – http://www.fincaparcsactiongroup.com
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NOTA DE PRENSA / PRESS RELEASE
ISSUED BY THE SPANISH GOVERNMENTMINISTERIO DE FOMENTO
ENGLISH TRANSLATION
Spain shows in London a selection of real estate products
The British are the main foreign buyers of property in Spain.
• A group of companies involved in property development attend a technical conference in the United Kingdom
• Secretary of State for Housing notes that “the objective is to recover marketing channels with major markets in the residential sector interested in Spain.”
Thursday, October 13, 2011
A delegation of a dozen real estate development companies and divisions of Spanish financial institutions are in London today presenting a sample of homes they have in stock, in a technical seminar on real estate in the United Kingdom.
The conference, organized by the Ministry of Development in collaboration with the Spanish Foreign Trade Institute (ICEX), is held as part of the Property Investor Show & OPP Live 2011, a major real estate event in the UK.
Secretary of State for Housing, Beatriz Corredor, who accompanied the Spanish businessmen who participated in the day and explained the situation of the housing market in Spain, the evolution of prices, the housing stock available and legislative reforms implemented by the Government of Spain.
The aim of the day was to introduce the Spanish companies with industry professionals in the UK and allow collective presence of the Spanish offer. The purpose, explained Corredor “is to restore the channels of communication and distribution, which were lost during the crisis, with the main markets that have an interest in the Spanish real estate sector, mainly in the leisure & holiday segment, which represents one third of the total housing stock in Spain “.
Housing prices in Spain have fallen by 17% on average and 22% in real terms from their peak levels, but in some areas, especially in the most popular for holiday homes, the falls have exceeded 30%, reducing in some cases by 50% The stock of housing available, which in 2010 began to decline, is 687,000 units, 61% of which is on the Mediterranean coast and the archipelagos.
In addition, the Government of Spain has approved a tax rebate for the purchase of new housing up to December 31, 2011 which will be taxed at a rate of 4% instead of 8%. Also, recently, the Government of Spain has adopted new measures to enhance transparency, guarantees and legal security in the Spanish property sector.
Thus, Corredor has stressed that there is now increased information about the state of housing available in the Land Registry for public and universal access. Furthermore, that information can be obtained, since last July, in English, thanks to an agreement between the Ministry of Development and the Association of Registrars.
“This, coupled with the competitive advantages that have characterized Spain as a secure destination, geographic proximity, good weather, quality of life, universal public services and a high quality transport network fully renovated makes Spain an ideal destination for investment,” she assured.
According to recent data, British citizens are the main foreign buyers of property in Spain with 23.4% of all purchases made by foreigners in 2010 and around one million Britons living in Spain for all or part of the year. In addition 9.47 million British tourists visited Spain in the first eight months of 2011, 8.8% more than the same period in 2010.
Housing characteristics
In London Spanish companies and institutions have presented a sample of dwellings which were subject to an evaluation process in accordance with international valuation standards. Most of these vacation homes are used and are distributed throughout Spain, especially in the most popular destinations for foreign buyers, such as the Canary and Balearic Islands and the Spanish coast. They have also presented a selection of housing for first residence in large towns.
The type of housing made available ranges from apartment block houses to terraced houses. They are located both in serviced residential areas and within their own towns.
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NOTA DE PRENSA / PRESS RELEASE
ISSUED BY THE SPANISH GOVERNMENTMINISTERIO DE FOMENTO
ENGLISH TRANSLATION
Spain shows in London a selection of real estate products
The British are the main foreign buyers of property in Spain.
• A group of companies involved in property development attend a technical conference in the United Kingdom
• Secretary of State for Housing notes that “the objective is to recover marketing channels with major markets in the residential sector interested in Spain.”
Thursday, October 13, 2011
A delegation of a dozen real estate development companies and divisions of Spanish financial institutions are in London today presenting a sample of homes they have in stock, in a technical seminar on real estate in the United Kingdom.
The conference, organized by the Ministry of Development in collaboration with the Spanish Foreign Trade Institute (ICEX), is held as part of the Property Investor Show & OPP Live 2011, a major real estate event in the UK.
Secretary of State for Housing, Beatriz Corredor, who accompanied the Spanish businessmen who participated in the day and explained the situation of the housing market in Spain, the evolution of prices, the housing stock available and legislative reforms implemented by the Government of Spain.
The aim of the day was to introduce the Spanish companies with industry professionals in the UK and allow collective presence of the Spanish offer. The purpose, explained Corredor “is to restore the channels of communication and distribution, which were lost during the crisis, with the main markets that have an interest in the Spanish real estate sector, mainly in the leisure & holiday segment, which represents one third of the total housing stock in Spain “.
Housing prices in Spain have fallen by 17% on average and 22% in real terms from their peak levels, but in some areas, especially in the most popular for holiday homes, the falls have exceeded 30%, reducing in some cases by 50% The stock of housing available, which in 2010 began to decline, is 687,000 units, 61% of which is on the Mediterranean coast and the archipelagos.
In addition, the Government of Spain has approved a tax rebate for the purchase of new housing up to December 31, 2011 which will be taxed at a rate of 4% instead of 8%. Also, recently, the Government of Spain has adopted new measures to enhance transparency, guarantees and legal security in the Spanish property sector.
Thus, Corredor has stressed that there is now increased information about the state of housing available in the Land Registry for public and universal access. Furthermore, that information can be obtained, since last July, in English, thanks to an agreement between the Ministry of Development and the Association of Registrars.
“This, coupled with the competitive advantages that have characterized Spain as a secure destination, geographic proximity, good weather, quality of life, universal public services and a high quality transport network fully renovated makes Spain an ideal destination for investment,” she assured.
According to recent data, British citizens are the main foreign buyers of property in Spain with 23.4% of all purchases made by foreigners in 2010 and around one million Britons living in Spain for all or part of the year. In addition 9.47 million British tourists visited Spain in the first eight months of 2011, 8.8% more than the same period in 2010.
Housing characteristics
In London Spanish companies and institutions have presented a sample of dwellings which were subject to an evaluation process in accordance with international valuation standards. Most of these vacation homes are used and are distributed throughout Spain, especially in the most popular destinations for foreign buyers, such as the Canary and Balearic Islands and the Spanish coast. They have also presented a selection of housing for first residence in large towns.
The type of housing made available ranges from apartment block houses to terraced houses. They are located both in serviced residential areas and within their own towns.
-
Criticism for property service run by Spanish government
When the Spanish government unveiled a new property register in English designed to simplify the buying process and clarify whether properties were legal and safe to buy, it was supposed to encourage British buyers to dip a toe back into the Spanish property market.
Despite the hype, Spain’s online Land Registry service has been criticised as unreliable and out-of-date Photo: Frans Lemmens / AlamyBy Sean O’Hare – THE TELEGRAPH
3:17PM BST 14 Oct 2011
That was until users began to complain that the service provides what they say is misleading documentation in indecipheral English.
In exchange for €23 euros, prospective British buyers can search for a property online, carry out their own due diligence and, should they wish to buy one, receive a Land Registry Certificate that proves they bought their property in good faith. In theory completing this process guarantes them judicial support.
However, a check on a 5,000 square-metre property bought by Colin and Sandra Byrne in 2006 correctly states the size and description of the property in Albanilla, even down to the sloping ceilings and the fact that “the main front faces the mid day” [sic].
What it fails to mention is that the €275,000 property with a €25,000 landscaped garden is subject to a land grab by a developer, who plans to use half of the Byrnes’ land as part of an urbanisation project that will include 47 car parking spaces, two houses and a public space.
Colin Byrne said: “The first thing that struck me was it looked as if someone had taken the information in Spanish from the records and ‘googled’ it into English.
“They described my plot, which is full of olive and almond trees, as ‘a piece of dry land for cultivation of cereals with an area of 48 areas 80 centiares’.
“But more importantly for a prospective buyer, I would think, is the fact that my property is subject to a ‘land grab’, which went unmentioned on the document that cost me €23.
“A builder is planning an urbanisation and I and three of my neighbours stand to lose over 50 per cent of our gardens. The plans have been in Abanilla Town Hall since June 2007 and we had the official notification in 2010.”
It is not just the translated documents that are giving cause for concern. The service seems to be equally flawed in Spanish.
A check on a house bought by Len and Helen Prior in 2003 reveals its location in Almeria and the fact it had a “rectangular pool with semicircular stair access”, but doesn’t disclose the fact it was deemed to be illegal. It was demolished in January 2008.
A search for details on a further two properties deemed illegal three years ago in Albox and subjected to demolition orders that were later suspended pending a retrial, returns no information relating to the properties’ legal history.
The property service in English was rolled out shortly after Spain’s housing secretary Beatriz Corredor came to London with the Spanish Property Roadshow in April this year.
Prior to her arival, she was reported in a Sunday Telegraph interview as saying: “Come here calmly, and trust in the system that we have and the transparency we provide.
“If there is not any mention of legal proceedings on the document, the person who buys the property through the correct channels will then know there is judicial support.”
The online service was part of a package of reforms steered through the Spanish parliament in a bid to improve Spain’s tarnished real estate reputation and boost its withered economy by encouraging investment.
A spokesman for the Spanish government said: “Last July, the Spanish government approved a new regulation that, amongst other measures, obliges town councils to inform the Association of Spanish Property and Commercial Registrars about any urban development regarding properties. As every regulation in democracy, it doesn’t have retroactively [sic].”
There are estimated to be 700,000 unsold holiday homes in Spain, the majority of which are located along the southern coastlines, where property prices have dropped by as much as 60 per cent in certain regions.
The second leg of the Spanish property roadshow is currently in London, providing a platform for developers to sell their properties to UK buyers.
-
Criticism for property service run by Spanish government
When the Spanish government unveiled a new property register in English designed to simplify the buying process and clarify whether properties were legal and safe to buy, it was supposed to encourage British buyers to dip a toe back into the Spanish property market.
Despite the hype, Spain’s online Land Registry service has been criticised as unreliable and out-of-date Photo: Frans Lemmens / AlamyBy Sean O’Hare – THE TELEGRAPH
3:17PM BST 14 Oct 2011
That was until users began to complain that the service provides what they say is misleading documentation in indecipheral English.
In exchange for €23 euros, prospective British buyers can search for a property online, carry out their own due diligence and, should they wish to buy one, receive a Land Registry Certificate that proves they bought their property in good faith. In theory completing this process guarantes them judicial support.
However, a check on a 5,000 square-metre property bought by Colin and Sandra Byrne in 2006 correctly states the size and description of the property in Albanilla, even down to the sloping ceilings and the fact that “the main front faces the mid day” [sic].
What it fails to mention is that the €275,000 property with a €25,000 landscaped garden is subject to a land grab by a developer, who plans to use half of the Byrnes’ land as part of an urbanisation project that will include 47 car parking spaces, two houses and a public space.
Colin Byrne said: “The first thing that struck me was it looked as if someone had taken the information in Spanish from the records and ‘googled’ it into English.
“They described my plot, which is full of olive and almond trees, as ‘a piece of dry land for cultivation of cereals with an area of 48 areas 80 centiares’.
“But more importantly for a prospective buyer, I would think, is the fact that my property is subject to a ‘land grab’, which went unmentioned on the document that cost me €23.
“A builder is planning an urbanisation and I and three of my neighbours stand to lose over 50 per cent of our gardens. The plans have been in Abanilla Town Hall since June 2007 and we had the official notification in 2010.”
It is not just the translated documents that are giving cause for concern. The service seems to be equally flawed in Spanish.
A check on a house bought by Len and Helen Prior in 2003 reveals its location in Almeria and the fact it had a “rectangular pool with semicircular stair access”, but doesn’t disclose the fact it was deemed to be illegal. It was demolished in January 2008.
A search for details on a further two properties deemed illegal three years ago in Albox and subjected to demolition orders that were later suspended pending a retrial, returns no information relating to the properties’ legal history.
The property service in English was rolled out shortly after Spain’s housing secretary Beatriz Corredor came to London with the Spanish Property Roadshow in April this year.
Prior to her arival, she was reported in a Sunday Telegraph interview as saying: “Come here calmly, and trust in the system that we have and the transparency we provide.
“If there is not any mention of legal proceedings on the document, the person who buys the property through the correct channels will then know there is judicial support.”
The online service was part of a package of reforms steered through the Spanish parliament in a bid to improve Spain’s tarnished real estate reputation and boost its withered economy by encouraging investment.
A spokesman for the Spanish government said: “Last July, the Spanish government approved a new regulation that, amongst other measures, obliges town councils to inform the Association of Spanish Property and Commercial Registrars about any urban development regarding properties. As every regulation in democracy, it doesn’t have retroactively [sic].”
There are estimated to be 700,000 unsold holiday homes in Spain, the majority of which are located along the southern coastlines, where property prices have dropped by as much as 60 per cent in certain regions.
The second leg of the Spanish property roadshow is currently in London, providing a platform for developers to sell their properties to UK buyers.
-
I Tackle Spanish Housing Minister on Land Grab
October 14, 2011 4:41 pm – Posted by Marta in Behind the scenesSpanish Housing Minister Beatriz Corredor
Yesterday I went to an International Property Exhibition in the Excel Centre in the Docklands, London. This event had been brought to my attention by two of my constituents, Mike Kerr and Keith Rule who have had to suffer their Spanish investment backfiring.
Obviously, they were not attending to purchase more Spanish property, to the contrary – they’d advise others not to invest in Spain. We were there to listen to the Spanish Minister for Housing, Beatriz Corredor. She had flown over from Spain with around ten Spanish property developers hoping to attract British buyers.
The British are amongst the highest proportion of foreign property purchasers, but the bad reputation Spain has earned itself has seen the level of interest in Spanish property plummet. This so-called ‘roadshow’ was to address that with the aiming of portraying that everything is fixed and the Brits can start spending their money again. How wrong this is.
Regional Governments pick fights with Local Governments, Mayors and politicans take bribes, then get prosecuted for corruption – it really is difficult for any British person to trust anyone throughout the home buying process. Regular readers of my blog and newsletter will know that I’ve been fighting for victims of Spanish property related injustice since my election.
Yesterday was the perfect opportunity for me to fight those who have suffered such ordeals.
After Mrs Corredor’s speech, there was a drinks reception where the Minister would be present. But Mike and Keith couldn’t attend that because a cleverly-timed meeting with some of Mrs Corredor’s staff had been arranged. However, that meeting didn’t involve me, so I went to the drinks reception.
It didn’t take me long to introduce myself to the Minister and have a conversation with her. I shall describe it as ‘frank and passionate’, with the conversation both in English and Spanish attracting attention from many around.
Mrs Corredor quite clearly lives on another planet. She refused to acknowledge the problems there have been and continue to be with people who have invested in Spain. Through her denial, she is unwilling to help those who have suffered and I question whether she even cares given there’s an election in Spain in a few weeks time.
Not surprisingly, Mrs Corredor fled her own drinks reception leaving me to talk to many who attended, not in fact to buy property or invest in Spain – but to share their Spanish horror stories. Interestingly, the developers who were there were also frustrated with the Government. They agreed with me that the problems have not been dealt with and while that remains the case, they will be unable to sell any properties.
The Spanish Government is a Government which is failing British expats and failing British people who live in the UK but have made investments in Spain. The Government is even failing it’s own people in the property sector. I question whether the new Government will be any better.
-
I Tackle Spanish Housing Minister on Land Grab
October 14, 2011 4:41 pm – Posted by Marta in Behind the scenesSpanish Housing Minister Beatriz Corredor
Yesterday I went to an International Property Exhibition in the Excel Centre in the Docklands, London. This event had been brought to my attention by two of my constituents, Mike Kerr and Keith Rule who have had to suffer their Spanish investment backfiring.
Obviously, they were not attending to purchase more Spanish property, to the contrary – they’d advise others not to invest in Spain. We were there to listen to the Spanish Minister for Housing, Beatriz Corredor. She had flown over from Spain with around ten Spanish property developers hoping to attract British buyers.
The British are amongst the highest proportion of foreign property purchasers, but the bad reputation Spain has earned itself has seen the level of interest in Spanish property plummet. This so-called ‘roadshow’ was to address that with the aiming of portraying that everything is fixed and the Brits can start spending their money again. How wrong this is.
Regional Governments pick fights with Local Governments, Mayors and politicans take bribes, then get prosecuted for corruption – it really is difficult for any British person to trust anyone throughout the home buying process. Regular readers of my blog and newsletter will know that I’ve been fighting for victims of Spanish property related injustice since my election.
Yesterday was the perfect opportunity for me to fight those who have suffered such ordeals.
After Mrs Corredor’s speech, there was a drinks reception where the Minister would be present. But Mike and Keith couldn’t attend that because a cleverly-timed meeting with some of Mrs Corredor’s staff had been arranged. However, that meeting didn’t involve me, so I went to the drinks reception.
It didn’t take me long to introduce myself to the Minister and have a conversation with her. I shall describe it as ‘frank and passionate’, with the conversation both in English and Spanish attracting attention from many around.
Mrs Corredor quite clearly lives on another planet. She refused to acknowledge the problems there have been and continue to be with people who have invested in Spain. Through her denial, she is unwilling to help those who have suffered and I question whether she even cares given there’s an election in Spain in a few weeks time.
Not surprisingly, Mrs Corredor fled her own drinks reception leaving me to talk to many who attended, not in fact to buy property or invest in Spain – but to share their Spanish horror stories. Interestingly, the developers who were there were also frustrated with the Government. They agreed with me that the problems have not been dealt with and while that remains the case, they will be unable to sell any properties.
The Spanish Government is a Government which is failing British expats and failing British people who live in the UK but have made investments in Spain. The Government is even failing it’s own people in the property sector. I question whether the new Government will be any better.
-
PRESS RELEASE
14 October 2011
ISSUED BY:
BANK GUARANTEES IN SPAIN ACTION GROUP
Highlighting Spanish Off-Plan Property Bank Guarantee Issues : Demanding Action
http://www.bankguaranteesinspain.comSUBJECT: SPANISH GOVERNMENT PROPERTY ROAD SHOW
PHASE TWO – 13 OCTOBER 2011 – AT OPP LIVE – ExCel –
LONDON DOCKLANDSBEATRIZ CORREDOR – SPANISH SECRETARY OF STATE
FOR HOUSING DELIVERS KEY NOTE SEMINAR SPEECH
AND ATTEMPTS TO EXPLAIN WHY NOW IS THE RIGHT
TIME TO INVEST IN THE SPANISH REAL ESTATE MARKET.
HOWEVER SHE FAILS TO ACKNOWLEGE THAT ANY
PROBLEMS EXIST WITH PREVIOUS PURCHASERSPOST SEMINAR DRINKS RECEPTION MARRED DUE TO
ANGRY EXCHANGES BETWEEN VICTIMS OF SPANISH
PROPERTY ABUSE AND SPANISH SECRETARY OF
STATE BEATRIZ CORREDORMARTA ANDREASEN MEP HAS FRANK EXCHANGE WITH
BEATRIZ CORREDOR AT POST SEMINAR DRINKS
RECEPTIONBANK GUARANTEE ACTION GROUP ATTENDS FOLLOW
UP MEETING WITH SPANISH GOVERNMENT OFFICIALS
FROM THE HOUSING MINISTRYBEATRIZ CORREDOR REFUSES TO MEET PERSONALLY
WITH THE BANK GUARANTEES ACTION GROUPPhase 2 of the Spanish Government Property Road Show arrived in London
Docklands yesterday where the ‘main event’ was a 30 minute ‘key note’ speech
from Beatriz Corredor, Spain’s Housing Minister.The Road Show, which was part of the Property & Investor Show OPP Live,
consisted of a Spanish Government stand in the centre of the exhibition hall
around which 12 Government approved companies were provided with individual
podiums to market their real estate portfolios.Throughout the day the Spanish area was fairly quiet and there was not much
evidence of prospective purchasers for Spanish Property. However, a number of
victims of various Spanish Property Abuses did make the exhibitors aware of their
problems.At one point in the early afternoon it seemed as though many of the Spanish Real
Estate exhibitors had gone for lunch as most of the podiums were empty.KEY NOTE SPEECH
At 3:15pm Beatriz Corredor delivered her ‘key note’ speech in a small seminar
room screened off from the main exhibition hall. The audience of around 70
people was made up of trade guests, individual investors, Spanish Government
Embassy Officials and a number of victims of property abuse in Spain.The audience was provided with copies of the Spanish Government publication
‘How to buy a home in Spain – Step by Step Guide’.Beatriz Corredor was introduced by the Spanish Ambassador to the UK, Sr. Carles
Casajuana. He advised the audience that instead of a question and answer
session at the end of the seminar Beatriz Corredor would host a drinks reception
where the audience could enjoy some Spanish Wine.Her speech lasted for around 30 minutes and she explained how this was now the
optimum time to invest in Spanish Property due to the falling property prices, IVA
reduction on new properties, Land Registry searches now available in English and
the transparency and legal security available to purchasers. Significantly the
Minister failed to acknowledge that there were any problems within the Spanish
real estate sector.DRINKS RECEPTION & CHALLENGE FROM MARTA ANDREASEN MEP
At the end of the seminar the audience was then taken to the drinks reception
hosted by Beatriz Corredor and the Spanish Government.The drinks reception was marred by some angry exchanges between Beatriz
Corredor and victims of Spanish Property Abuse. Sra. Corredor attempted to
defend the Spanish Real Estate Sector and together with the Spanish Ambassador
they denied there were any major problems.Marta Andreasen MEP who had flown into London specially to attend the seminar
in support of the victims of property abuse also challenged Beatriz Corredor at
the drinks reception. http://www.martaandreasen.com/?p=1011Marta Andreasen comments: “It didn’t take me long to introduce myself to
the Minister and have a conversation with her. I shall describe it as
‘frank and passionate’, with the conversation both in English and Spanish
attracting attention from many around.Mrs Corredor quite clearly lives on another planet. She refused to
acknowledge the problems there have been and continue to be with
people who have invested in Spain. Through her denial, she is unwilling
to help those who have suffered and I question whether she even cares
given there’s an election in Spain in a few weeks time”REFUSAL BY MINISTER TO ATTEND MEETING
Keith Rule coordinator of the Finca Parcs Action Group and organizer of the Bank
Guarantees in Spain Petition says: “After listening to the Seminar from our front
row seats, it was obvious they did not want us anywhere near Beatriz
Corredor. Immediately the seminar ended myself and two other
representatives of the Bank Guarantees In Spain Petition, Mike Kerr and Reg
Matthews were taken for a pre-arranged meeting with two senior members
of Beatriz Corredor’s team.We asked Beatriz Corredor to join the meeting but she refused. The meeting
which was a follow up to our first meeting held during the first phase of the
Road Show at the Spanish Embassy in May lasted for around 75 minutes and
at times became rather heated due to the serious nature of the subject
matter”The meeting was arranged to discuss the wider issue of Bank Guarantee Abuse
including circumstances where developers and banks failed to issue the legally
required Bank Guarantees and where Banks were refusing to honour Bank Guarantees
for no legitimate legal reason.COMPLAINT TO THE BANK OF SPAIN
Keith continues: “After reaching the end of the complaints procedure with Caja
de Ahorros del Mediterráneo (CAM) the Bank who accepted our off-plan
deposits at Finca Parcs we then forwarded our complaint to the Valencian
Savings Ombudsman who advised us that the complaint was ‘out of their
remit’ and then referred us to the Bank of Spain. We submitted our
complaint and dossier of evidence to the Banco de España on 12 October
2010. The complaint was not only in relation to the Finca Parcs/CAM
situation but it also criticized the Banco de España for their lack of
supervision with regards to the wider issue of Bank Guarantee Abuse.The Banco de España notified us in writing on 3 January 2011 that they had
accepted our complaint into their system. We have not heard from them
since. We took this matter up with the Spanish Government at our meeting
in May and were now looking for some information on the progress of our
complaint. Unfortunately Beatriz Corredor’s team was unable to give us any
positive news.Keith says: they told us: ‘Sra. Corredor has personally contacted the Governor
of the Bank of Spain but we are still waiting for an answer with regards to
your complaint. The Bank of Spain is independent and we as a Government
cannot tell them what to do. You must make a complaint to the Defensor del
Pueblo regarding the lack of response from the Bank of Spain. We will also
continue to chase them on your behalf’Keith adds: ”We have now demanded a meeting with the Bank of Spain and
Beatriz Corredor’s team has assured us that although they are unable to
instruct the Bank of Spain to meet with us they will support us with our
request.LAND REGISTRY SEARCHES – INNACURATE AND INCOMPLETE
At the meeting we also challenged many of the things said by Beatriz
Corredor during her 30 minute seminar.We highlighted the fact that the information provided by the Spanish Land
Registry was inaccurate and we had with us copies of recent Land Registry
Searches for a property that was demolished in 2008, two other properties
that were issued with demolition notices in 2009 and a property that was
subject to Land Grab. The Land Registry searches did not make any
reference to these very serious issues.The officials attempted to defend the Land Registry system which is all part
of their claim that the system now offers legal security and transparency by
saying that “The English translation system for the Land Registry was only
introduced in July this year and it would take a little time to be accurate.
They said ‘we have to start somewhere”. We then gave them evidence of the
fact that the documents we were referring to were actually in Spanish from
the Spanish Land Registry search and not from the new English system.“We insist that buying a house in Spain has always been safe.” Beatriz Corredor
Spanish secretary of state for housingDuring a recent interview with the BBC’s Sarah Rainsford, Beatriz Corredor said
“We insist that buying a house in Spain has always been safe”. When
pressed further on this issue she conceded, “Those who have had problems
are on the path to a solution”
http://www.bbc.co.uk/news/world-europe-15293808Keith challenges the statement from Beatriz Corredor: ”This statement is
completely untrue. If as the Minster says, buying a house in Spain has
always been safe, then why are so many people suffering from issues
such as Land Grab, Demolition Orders, Ley de Costas and Bank Guarantee
Abuse? I am shocked that she can continue to make such inflammatory
and insensitive statements. If we are now on a ‘path to a solution’ the
least we deserve is to be told just how long that path is.Sra. Corredor must understand that now is the optimum time to meet
with the victims and put in place measures to resolve the serious issues
that are still outstanding as a result of the complete lack of supervision
in the Spanish Real Estate Sector.If the Spanish Government and Banco de España really want us to
believe that the Spanish Real Estate Sector is transparent and offers
legal security then they must stop papering over the cracks and act now
to resolve the outstanding issues.Now is not the time for Sales Seminars and Road Shows; it is time for
some real action from the Spanish Government and Banco de España.We are sick of hearing about the transparency and legal security on offer,
because all we have experienced and are still experiencing is the
complete opposite – corruption, fraud, negligence and continual denial.The Spanish Government must immediately clean up the property sector,
take action to resolve the property abuses, give more power to the Banco
de España to make them an effective supervisor of the Banks and ensure
that the Law relating to off-plan property purchases, LEY 57/68 is
enforced in all cases both past and present.We have made it clear to the Spanish Government that we will not go
away and that will continue to fight to recover our money that should
have been protected by the inalienable rights granted to us by Spanish
Law, LEY 57/68”Mike Kerr who was also present at the meeting comments: “I was disappointed
that I was not allowed to speak directly to Beatriz Corredor. As I
approached her she turned her back on me and walked away. We have
made the Spanish Government fully aware of the fraudulent actions of
the Spanish Banks but are surprised that they still refuse to intervene to
change their behaviour. By failing to take action it could be said that they are
condoning the fraudulent activity of the banks”-Ends-
-
PRESS RELEASE
14 October 2011
ISSUED BY:
BANK GUARANTEES IN SPAIN ACTION GROUP
Highlighting Spanish Off-Plan Property Bank Guarantee Issues : Demanding Action
http://www.bankguaranteesinspain.comSUBJECT: SPANISH GOVERNMENT PROPERTY ROAD SHOW
PHASE TWO – 13 OCTOBER 2011 – AT OPP LIVE – ExCel –
LONDON DOCKLANDSBEATRIZ CORREDOR – SPANISH SECRETARY OF STATE
FOR HOUSING DELIVERS KEY NOTE SEMINAR SPEECH
AND ATTEMPTS TO EXPLAIN WHY NOW IS THE RIGHT
TIME TO INVEST IN THE SPANISH REAL ESTATE MARKET.
HOWEVER SHE FAILS TO ACKNOWLEGE THAT ANY
PROBLEMS EXIST WITH PREVIOUS PURCHASERSPOST SEMINAR DRINKS RECEPTION MARRED DUE TO
ANGRY EXCHANGES BETWEEN VICTIMS OF SPANISH
PROPERTY ABUSE AND SPANISH SECRETARY OF
STATE BEATRIZ CORREDORMARTA ANDREASEN MEP HAS FRANK EXCHANGE WITH
BEATRIZ CORREDOR AT POST SEMINAR DRINKS
RECEPTIONBANK GUARANTEE ACTION GROUP ATTENDS FOLLOW
UP MEETING WITH SPANISH GOVERNMENT OFFICIALS
FROM THE HOUSING MINISTRYBEATRIZ CORREDOR REFUSES TO MEET PERSONALLY
WITH THE BANK GUARANTEES ACTION GROUPPhase 2 of the Spanish Government Property Road Show arrived in London
Docklands yesterday where the ‘main event’ was a 30 minute ‘key note’ speech
from Beatriz Corredor, Spain’s Housing Minister.The Road Show, which was part of the Property & Investor Show OPP Live,
consisted of a Spanish Government stand in the centre of the exhibition hall
around which 12 Government approved companies were provided with individual
podiums to market their real estate portfolios.Throughout the day the Spanish area was fairly quiet and there was not much
evidence of prospective purchasers for Spanish Property. However, a number of
victims of various Spanish Property Abuses did make the exhibitors aware of their
problems.At one point in the early afternoon it seemed as though many of the Spanish Real
Estate exhibitors had gone for lunch as most of the podiums were empty.KEY NOTE SPEECH
At 3:15pm Beatriz Corredor delivered her ‘key note’ speech in a small seminar
room screened off from the main exhibition hall. The audience of around 70
people was made up of trade guests, individual investors, Spanish Government
Embassy Officials and a number of victims of property abuse in Spain.The audience was provided with copies of the Spanish Government publication
‘How to buy a home in Spain – Step by Step Guide’.Beatriz Corredor was introduced by the Spanish Ambassador to the UK, Sr. Carles
Casajuana. He advised the audience that instead of a question and answer
session at the end of the seminar Beatriz Corredor would host a drinks reception
where the audience could enjoy some Spanish Wine.Her speech lasted for around 30 minutes and she explained how this was now the
optimum time to invest in Spanish Property due to the falling property prices, IVA
reduction on new properties, Land Registry searches now available in English and
the transparency and legal security available to purchasers. Significantly the
Minister failed to acknowledge that there were any problems within the Spanish
real estate sector.DRINKS RECEPTION & CHALLENGE FROM MARTA ANDREASEN MEP
At the end of the seminar the audience was then taken to the drinks reception
hosted by Beatriz Corredor and the Spanish Government.The drinks reception was marred by some angry exchanges between Beatriz
Corredor and victims of Spanish Property Abuse. Sra. Corredor attempted to
defend the Spanish Real Estate Sector and together with the Spanish Ambassador
they denied there were any major problems.Marta Andreasen MEP who had flown into London specially to attend the seminar
in support of the victims of property abuse also challenged Beatriz Corredor at
the drinks reception. http://www.martaandreasen.com/?p=1011Marta Andreasen comments: “It didn’t take me long to introduce myself to
the Minister and have a conversation with her. I shall describe it as
‘frank and passionate’, with the conversation both in English and Spanish
attracting attention from many around.Mrs Corredor quite clearly lives on another planet. She refused to
acknowledge the problems there have been and continue to be with
people who have invested in Spain. Through her denial, she is unwilling
to help those who have suffered and I question whether she even cares
given there’s an election in Spain in a few weeks time”REFUSAL BY MINISTER TO ATTEND MEETING
Keith Rule coordinator of the Finca Parcs Action Group and organizer of the Bank
Guarantees in Spain Petition says: “After listening to the Seminar from our front
row seats, it was obvious they did not want us anywhere near Beatriz
Corredor. Immediately the seminar ended myself and two other
representatives of the Bank Guarantees In Spain Petition, Mike Kerr and Reg
Matthews were taken for a pre-arranged meeting with two senior members
of Beatriz Corredor’s team.We asked Beatriz Corredor to join the meeting but she refused. The meeting
which was a follow up to our first meeting held during the first phase of the
Road Show at the Spanish Embassy in May lasted for around 75 minutes and
at times became rather heated due to the serious nature of the subject
matter”The meeting was arranged to discuss the wider issue of Bank Guarantee Abuse
including circumstances where developers and banks failed to issue the legally
required Bank Guarantees and where Banks were refusing to honour Bank Guarantees
for no legitimate legal reason.COMPLAINT TO THE BANK OF SPAIN
Keith continues: “After reaching the end of the complaints procedure with Caja
de Ahorros del Mediterráneo (CAM) the Bank who accepted our off-plan
deposits at Finca Parcs we then forwarded our complaint to the Valencian
Savings Ombudsman who advised us that the complaint was ‘out of their
remit’ and then referred us to the Bank of Spain. We submitted our
complaint and dossier of evidence to the Banco de España on 12 October
2010. The complaint was not only in relation to the Finca Parcs/CAM
situation but it also criticized the Banco de España for their lack of
supervision with regards to the wider issue of Bank Guarantee Abuse.The Banco de España notified us in writing on 3 January 2011 that they had
accepted our complaint into their system. We have not heard from them
since. We took this matter up with the Spanish Government at our meeting
in May and were now looking for some information on the progress of our
complaint. Unfortunately Beatriz Corredor’s team was unable to give us any
positive news.Keith says: they told us: ‘Sra. Corredor has personally contacted the Governor
of the Bank of Spain but we are still waiting for an answer with regards to
your complaint. The Bank of Spain is independent and we as a Government
cannot tell them what to do. You must make a complaint to the Defensor del
Pueblo regarding the lack of response from the Bank of Spain. We will also
continue to chase them on your behalf’Keith adds: ”We have now demanded a meeting with the Bank of Spain and
Beatriz Corredor’s team has assured us that although they are unable to
instruct the Bank of Spain to meet with us they will support us with our
request.LAND REGISTRY SEARCHES – INNACURATE AND INCOMPLETE
At the meeting we also challenged many of the things said by Beatriz
Corredor during her 30 minute seminar.We highlighted the fact that the information provided by the Spanish Land
Registry was inaccurate and we had with us copies of recent Land Registry
Searches for a property that was demolished in 2008, two other properties
that were issued with demolition notices in 2009 and a property that was
subject to Land Grab. The Land Registry searches did not make any
reference to these very serious issues.The officials attempted to defend the Land Registry system which is all part
of their claim that the system now offers legal security and transparency by
saying that “The English translation system for the Land Registry was only
introduced in July this year and it would take a little time to be accurate.
They said ‘we have to start somewhere”. We then gave them evidence of the
fact that the documents we were referring to were actually in Spanish from
the Spanish Land Registry search and not from the new English system.“We insist that buying a house in Spain has always been safe.” Beatriz Corredor
Spanish secretary of state for housingDuring a recent interview with the BBC’s Sarah Rainsford, Beatriz Corredor said
“We insist that buying a house in Spain has always been safe”. When
pressed further on this issue she conceded, “Those who have had problems
are on the path to a solution”
http://www.bbc.co.uk/news/world-europe-15293808Keith challenges the statement from Beatriz Corredor: ”This statement is
completely untrue. If as the Minster says, buying a house in Spain has
always been safe, then why are so many people suffering from issues
such as Land Grab, Demolition Orders, Ley de Costas and Bank Guarantee
Abuse? I am shocked that she can continue to make such inflammatory
and insensitive statements. If we are now on a ‘path to a solution’ the
least we deserve is to be told just how long that path is.Sra. Corredor must understand that now is the optimum time to meet
with the victims and put in place measures to resolve the serious issues
that are still outstanding as a result of the complete lack of supervision
in the Spanish Real Estate Sector.If the Spanish Government and Banco de España really want us to
believe that the Spanish Real Estate Sector is transparent and offers
legal security then they must stop papering over the cracks and act now
to resolve the outstanding issues.Now is not the time for Sales Seminars and Road Shows; it is time for
some real action from the Spanish Government and Banco de España.We are sick of hearing about the transparency and legal security on offer,
because all we have experienced and are still experiencing is the
complete opposite – corruption, fraud, negligence and continual denial.The Spanish Government must immediately clean up the property sector,
take action to resolve the property abuses, give more power to the Banco
de España to make them an effective supervisor of the Banks and ensure
that the Law relating to off-plan property purchases, LEY 57/68 is
enforced in all cases both past and present.We have made it clear to the Spanish Government that we will not go
away and that will continue to fight to recover our money that should
have been protected by the inalienable rights granted to us by Spanish
Law, LEY 57/68”Mike Kerr who was also present at the meeting comments: “I was disappointed
that I was not allowed to speak directly to Beatriz Corredor. As I
approached her she turned her back on me and walked away. We have
made the Spanish Government fully aware of the fraudulent actions of
the Spanish Banks but are surprised that they still refuse to intervene to
change their behaviour. By failing to take action it could be said that they are
condoning the fraudulent activity of the banks”-Ends-
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Banca Civica
Bancaja
Caixa Catalunya
Banco Pastor
Cimenta2 Gestion
Live in Spain
Marina D’Or
The majority of the names above are Banks & not constrsuction/development companies. Banks dont build on illegal site, Bank dont grab land, provide shoddy & sub quality housing. They are well at the end of the corruption food chain.
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Banca Civica
Bancaja
Caixa Catalunya
Banco Pastor
Cimenta2 Gestion
Live in Spain
Marina D’Or
The majority of the names above are Banks & not constrsuction/development companies. Banks dont build on illegal site, Bank dont grab land, provide shoddy & sub quality housing. They are well at the end of the corruption food chain.
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Shakeel
You say “Banks are well at the end of the corruption food chain”
Absoloutely not.
Banks were/are a main part of the corruption involving Bank Guarantee abuse. Many Banks were complicit in the illegalities committed by the developers they financed. We have the evidence.
The Banks are at the top of the corruption food chain. Without their funding much of the corruption and illegal builds would not have taken place. The Banks have been negligent and lacked professional due diligence. Who do you think funded all the illegal developments – the Banks of course.
Banks also issued mortgages on illegal properties. We have the evidence.
We have evidence of CAM financing the build of illegal houses with no building licence, then giving the first purchasers a mortgage on the property even though it did not have a building licence or first occupation licence. CAM has now repossessed that property and are re-selling it with a 100% mortgage available – but it is a totally illegal house on an illegal urbanisation.
As the Bank of Spain have just found out – CAM was corrupt from top to bottom. They are not the only ones.
Kind regards
Keith
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Shakeel
You say “Banks are well at the end of the corruption food chain”
Absoloutely not.
Banks were/are a main part of the corruption involving Bank Guarantee abuse. Many Banks were complicit in the illegalities committed by the developers they financed. We have the evidence.
The Banks are at the top of the corruption food chain. Without their funding much of the corruption and illegal builds would not have taken place. The Banks have been negligent and lacked professional due diligence. Who do you think funded all the illegal developments – the Banks of course.
Banks also issued mortgages on illegal properties. We have the evidence.
We have evidence of CAM financing the build of illegal houses with no building licence, then giving the first purchasers a mortgage on the property even though it did not have a building licence or first occupation licence. CAM has now repossessed that property and are re-selling it with a 100% mortgage available – but it is a totally illegal house on an illegal urbanisation.
As the Bank of Spain have just found out – CAM was corrupt from top to bottom. They are not the only ones.
Kind regards
Keith
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Good article from Citywire which refers to this topic:
http://citywire.co.uk/money/spanish-property-has-it-tidied-up-its-act/a536337
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