Asked for a responce from my solicitors on what looked a promising report.
This was the reply and its specific for people WITH? YES WITH BANK GUARANTEES. and in many cases excellent reasons for a claim.
No I am not talking about just being late in construction here.
Clear they are never going to pay out in any numbers and with property value falling they could be paying out on negative equity.
With the Banks already having the keys returned in the thousands what chance is there of the whole Banking sytem crashing.
Now those that have lost there deposits have lost say 30% .Now the ones that have completed have probably lost the same so it doom and gloom for almost everyone on a finacial basis.
Love it, especially the comments by the Bank of Spain who in my experience have been as much use as a chocolate teapot! We have reported three banks to them and they told us on two occasions it was a matter between us and the bank and they had no involvement!
It’s one of the hot topics of conversation when we meet up in the notary and all the lawyers are saying the same, they just won’t pay out and they push you to taking them to court!
Just Frank 8)