Recovery possible on money paid on off-plan properties in Spain

Recovery possible on money paid on off-plan properties in Spain

The Supreme Court of Spain passed a landmark judgment that offers closure to nearly 100,000 British people who wished to own a place in Spain but ended up badly.

With this judgment, people who have paid a deposit for purchasing an off-plan property or have paid in stages but lost money due to the prevailing financial crisis in Spain will now be able to recover the money.

Costa Del Sol Property Groups lawyer have the

fastest root to claiming lost off plan deposits back.

Prospective buyers had paid deposits to the tune of £40,000 on an average and suddenly realized that their money had washed away owing to the financial crisis.

However, with this judgment from the Spanish Supreme Court, banks will be held responsible for the missing money and the Brits can sue the bank to a tune of up to £4 billion for their off-plan lost deposits refunds, as per the findings of Costa Del Sol Property Group of Spain.

Although there is no official information available yet, Costa Del Sol Property Group estimates that refunds up to £15 billion might have to be shelled out by banks to off-plan buyers from all over Europe towards their lost deposits from the financial crisis.

Some of the victims include Malcom and Maxine Ball , who had paid £100,000 for their prospective off-plan property in Costa del Sol. As per their off-plan purchase, they paid £100,000 as 50% of the total price which included additional charges and other deposits.

Brits own the maximum number of properties in Spain after the locals and hence, UK citizens were affected the most due to the sudden property crash witnessed in Spain.

With their unchallenged experience in this aspect, Costa Del Sol Property Group has formed a dedicated team for foreign nationals to help and gain their money back without any fees or irrespective if they English or not.