Is The The Tide Turning

Fink your spelling is beta than mine!

Banks arent there to be fair, they make money, and usually shedloads of it! They have money, people want to borrow so they can buy things. The banks charge interest and if you default on the loan they claim it and as much back as they can. Its the way of the world Im afraid!

Its the way of the world Im afraid!

Unless you're in America where handing the keys back is the limit of your liability. I am sure the American banks will be looking to change this set up, it leaves them wide open!

Mark

Ah yes, I had forgotten about them! Late 80s there wasnt a lot the banks could do either, it was then they rushed legislation through so people can be chased almost for their lifetime!

Ahhhh the good old days

 Hi, I have very little sympathy with spanish developers.  I put a large deposit on an off plan apartment in April 2005,   The contract stated the completion date would be September 2006.  The apartment was completed in late 2007 and I transferred the necessary funds to spain and went out for 5 days to complete etc.   The developer refused to sign until the end of January 2008 and almost exactly a year later I am still waiting.  I  have like others in the same position have decided to sue the developer for breaking his contract.  The promotor has gone into administration, the builder is giving his debtors apartments in payment which they are renting out and despite the efforts of several lawyers no one seems to be able to contact the main man.   I have had months of stress and now like others have had enough.   If only the people concerned were up front about the issues and problems they faced and kept the buyers informed things might have been different.  I can ill afford to lose the money I have already invested but would welcome any thoughts about the costs and likely success of taking the builder to court in  Spain.  I see littlle point in throwing away any more money if I am unlikely to get even a small percentage of my money back.

Rregards,

Safia

Safia

Nor do many of us.sadly however they are not all bad.nor are solicitors or judges.

On the point of the thread is the tide turning and to clarify when I do mean against the buyer.

Now this situation I feel is going to swing more in the favour of the developers and banks and the real additional loosers are going to be those left with a massive legal bill  alongside the loss of deposit  in their fight for justice should they not complete,

Should they loose and decide to complete then they will find the whole situation then becomes a potential  financial nightmare.

Some will surely have wished they had not listened to the advice not to complete without a habitation licence on minor issues including the delays.

Now lets not forget our dear ole solicitors that failed thousands.

Some are almost 100% sure that cases cant be won however they go through the legal route with a nice sting in the tail.

You agree to pay their fees and costs win or loose. Will they chase assets in the U.K if you dont or cant pay.Think they just may somehow?

Seems a good time to bring in the Spanish version of No Win. No Fee

Just Dan