2 Easy jet flights from Malaga to Luton for 21 st ....23.15 pm

what happens now? you contact your solictor immediately. if you have a valid bg you should be ok. if not your joining a long line of creditors looking their money. good luck.

Kate and John:

I would highly advise you to go to Courts now if you have the original copy of your Bank Guarantee.

Best,

Maria

Hi Maria,

Our BG expired April 2008 and bank wouldn't renew (cos they knew what was ahead). We have been advised to sue the bank as BG's shouldn't have an expiration date on them (or not at least till completion?)....

Regards Claire...

You can execute your Bank Guarantee for the refund of all money paid plus legal interests.

Best regards,

Maria 

Hello Maria,   I,M in Liverpool. I replyed to you with a PM, however what happens if you never received a bank guarentee from the builder or the agent who took us out there ?

lauranorman

 Use a declarative judicial procedure against developer with same effects ( refund of all money paid plus legal interests).

Best regards,

Maria

Hi Maria and anyone interested

Just found this site, could have done with it a couple of years ago as we thought we were the only ones with the problem.

We had a BG and executed it succeeding in getting our money back, no interest though just the money at the exchange rate of the day, It took 2 visits to spain and MANY MANY phonecalls along with 1000 Euros paid to the solicitors PSI Consultants, What still grieves me is that I am still owed 3000 Euros from our original deposit to Ambasun International, they say its the builder and the builder says its them who do I go for?????. I dont want any company to gain that money from fraudulently selling us a property that didnt even have the licences in placeat the time it was sold to us, They had our money for three years before we got it back so good luck everyone................................I watch with interest

Richard Stevens

Ex plot 9 owner

hi maria

is it true that for people without bank gaurantees that the process of getting your money back would take much longer(years infact) and what if the developer goes bankrupt in the meantime? who do you sue and how long would that take?

Hi All, We fought and we won!!!! Keep the faith - We have today received back our deposit from Banco Popular in full((£42,000)) from a BG that expired in September last year - no legal interest but the capital in full - my lawyer will now persue the interest through the courts. The banks are just trying to scare us off and threatened not to refund my money based on the fact it had expired but my lawyer held firm stating the fact in writing that BG's can't expire and got the required result. My previous lawyer took no for an answer from Banco Popular 6 months ago and surprise, surprise..........she is no longer my lawyer!! Please PM me if you would like more info - good luck to everyone in the same situation - don't give up!!!
Regards
Ian & Kelly
 

hi

fair play to you ian. i was told a couple of months ago that the builder were instructing the bank to pay out on the bgs. so if you have one you should be safe. however, to my knowledge there is actually more people who dont have a bg and they will have to go to court. a lot of these people assummed the bgs where in place until they tryed to obtain them from there solictors or agents and surprise,surprise they disappeared.good luck to all those involved.

Just a quick note to say congratulations to Ian & Kelly. I know that you would sooner have your Spanish property but at least you haven't really lost anything apart from sleep and perhaps a bit of faith.

I truly hope the rest of Real purchasers get their money back as well (there but for the grace of God etc.)

Best Regards

Steve

Hi Ian & Kelly,

Well done on getting your money back. We are in the same situation you were in , BG expired April 2008, bank never renewed. We have been told to sue bank to get money back as you did.... thing is we don't know how? Could we use your lawyer? Any info/help much appreciated....

Thanks Claire & Paul....

Hello everybody: 

I'm a lawyer in (San Javier) Murcia, and we have managed to get deposits back for our clients. Last week we recoverd the deposits for 2 of our clients with expired bank guarantee. Feel free to contact me at this forum if you need any help.  

People, I have read through these replies with dismay!

A bank guarantee can never expire, even if the end date written on it has passed. A guarantee is put into place to protect you from the builder inability to deliver.  All builders know this for a fact, but will try by any means possible to pull the wool over your eyes.

If your builder has not delivered before the date stipulated, then get out. I myself have had a supposed expired guarantee fully refunded with legal interest. Spain is crumbling as we speak...............................get out! 

Hi All,

Thought you might be interested to hear that I have had an email from Yolanda today just hours after threatening to place an embargo on the land they havce at La Tercia - interesting read - could we look at putting a group embargo on this as a way of re-couping our varying levels of owed monies??

Good afternoon Mr. Bold,

Hi

I have recieved my monies back from the bank last year! executed bank gaurantee,

bank didnt want to pay up. but threatened them with court action and low and behold

two weeks later they repaid me.

Was then advised by solicitor to sue developer for interest on my money plus intial

deposit of 3000 euros. I took advise from solicitor to sue Peinsa, and won at court

 in November...Peinsa was ordered to pay up within 28 days ...nothing.!!!!!!!!!

It is now March and have recieved e.mail from solicitors, that they had meeting with Peinsa

solicitors...and are offering me 2000 euros ...this is pittyfull....as i was suing them origanally for

13.000 euros....after all deductions.... because at the start was told i could claim, court fees,solicitors fees,

personnel finances to and throw to spain, interest on the money, plus initial deposit. Total of 20.000 to 25.000

Well who wouldnt pay the solicitors to take it to court......so after all this stress...i may walk away with 2000 euros

and the solicitors have gained from my exsperience......8.000 euros in total..If i carry on with the lawsuit i might get nothing...

and the layers fees never stop.

My solicitor is erging me to take the money....2000 euros.

But i feel after all this time of stress, it has not only cost me financially but with my health.

NOT SURE WHAT TO DO........

Are the solicitors acting for me.... or is there back handers from Peinsa solicitors to help clients to settle

for as little as possible.

Anyone in same situation!!!!!!

v.j

We too have had monies (deposit) back thank God but still waiting for the interest and costs awarded by the court last June!  I cannot believe the way this country is run to be honest.  What is the point in awarding this to us and then not making someone pay it!  It's the Bank that have to pay us as they with-held our deposit even though we had BG's.

Exhausting the whole process.

I cannot understand why a developer should be expected to pay 'legal interest' when the Bank held your money?????

When  I settled my claim, I was refunded my BG + Interest from the Bank that issuesd the BG.

This make more sense to me that expecting a developer who never actually had your cash in hand to pay you interest!

Maybe I'm missing something here?

Joe, did you read my posting correctly?  It is the Bank that have to pay us according to the Court ruling.  Where have you got the idea the Developer has to pay us??  I've quite clealy stated it is the Bank.

I shall be glad when the whole sorry mess is finalised.

We were paid our deposit back by the bank on our bank guarantee, no interest.  We then changed solicitor who has pursued the interest from the builder.  We think the reason for this is because we were told our deposit would have been used by the builder to fund the project, therefore wouldn't have been gaining interest in the bank.  The builder must owe the interest it would have gained had it been sitting in a bank account.