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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 199. Banks and Charles Dickens´Mr. Scrooge
18 December 2009 @ 07:50

  

 The new housing plan will allow individuals, public companies and financial institutions  to request the conversion of freehouses to protected houses (VPO) provided that the work visa is prior to 1 September 2009.

 

 

 

   As it is Christmas time... I want to imagine Banks and Finantial Institutions as the Charles Dickens´ Mr. Scrooge paying back off plan purchasers to whom they did not  secure to protect with Guarantees according to provision 1.2 of Law 57/68. I also enjoy seeing much of their stock being put as protected housing.....Again... virtue by force, equilibrium out of excess. Banks fulfilling the social mission they need to develop: a new era. The Spanish Legal order is ready to admitt these solutions. Let´s play them. It is not just a Christmas Carol.

 

 

 

   Applicants for this type of houses are registered by Regional Governments and Local Councils and they have got also an easier access to  finantiation  through the line of guarantees prepared by the Housing Department to guarantee loans for the purchase of protected houses.

 

 

 

 Companies  and financial institutions will be able to take over  loans agreed by the promoters and these houses, initially intended for seling, will be available for renting too.

 

 

 The  Secretary of Housing wants to reach an "equilbrium" (much needed! ) between free and protected housing, purchase and rental,  new construction and rehabilitation.

 

 

   The Minister said this will but Spain in the real estate vanguard: good to hear as we are now the real estate shame and.... we do have lots of material to perform the revolution, we do!

   Maria

  www.costaluzlawyers.es

  

 Christmas lights in Diagonal Avenue Barcelonaby Dasoaz at Flickr.com



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