As a lawyer I am sorry to say that your lawyer should have never allowed you to sign that contract and pay the deposit without the bank guarantee being ready, or at least one of the clauses in the contract should oblige the developer to hand the buyer a copy of the bank guarantee.
This subject has been discussed in this forum in several occasions, and it always becomes clear that one of the main issues when buying off plan is the bank guarantee. In Andalucia now we have rather strict regulations regarding off plan purchases, one of the main point of that “new” laws is the requirement of bank guarantees.
What to do now you may ask, well you are not now in a very strong position as you can imagine after having paid the deposit, your options:
A) first of all your lawyer MUST get that bank guarantee, he must put preassure on the developer, enquire at the bank that financing the development, etc. He must get that document for you. You should be very strict with your lawyer about it.
B) Do no t pay any more installments until you get the guarantee, as that bank guarantee specificallly covers the installments.
C) Threaten the developer with publishing your case in the local (and not so local as well) media and other actions, I know by experience that threatens works !.
José María Sánchez Alfonso
Costa del Sol, Málaga