Reply To: Bank Guarantees/Will You Ever Win

#86272
Anonymous
Participant

claire:

Buying off plan with a BG should not be a problem, it allows the developer cash flow, the buyer pays in stages which is good for them & their cash flow & they have a guarantee that if it does go wrong they are protected, & there is a simple solution, the banks should honour the BG as the law demands! After all the developer has already paid for the BG. But this is Spain & they seem to be able to ignore the law (their law) when they want.

It has to come from central government that the banks obey the law.