06 Sep 2008 11:32 AM:

Interesting article.

Consumer organisations and buyers have complained to the bank of spain, which claims it has never had this type of complaint before IE: banks not paying back money under bank guarantee's.

Bank of Spain is preparing a report for release in september, that criticises the pratice of certain banks . They are looking into some cases, but the conclusion is that some banks have not behaved diligently.

Those lucky enough to have a bank guarantee are finding the banks are using the company's status under administration as an excuse to delay paying out . This is not a valid excuse , according to Fernando Herrero , vice president of the Adicae association of bank users.

"THE LAW IS CLEAR. If the conditions of the guarantee are satisfied, execution is obligatory, regardless of the situation of the developer.

So are we being led along the garden path of our solicators in that they are saying the courts are refusing the banks to pay out?

Community thread: Skype phones

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28 Jul 2008 7:52 PM:

Weve been told by our solicator that the courts are not letting the banks pay out yet or if they even will. Can they do this?

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27 Jul 2008 10:29 PM:

Has anyone got there money back off arriba homes yet. Our solicator is saying that the courts have blocked the banks from paying out, under the bank guarantee. Is this a fact that they can do this or is it more bull.

Community thread: HOUSES IN ALMENARA BEACH

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16 Jun 2008 7:17 PM:

6% interest should be paid on your bank guarantee's its the law,oh it is Spain. We've been told that the bank may not honour the guarantee yet another load bxxxxxxs why is there always someone ruining our day. A good bit of advice never never use a solicitor recommended by estate agents conflict of interests.


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25 May 2008 12:00 AM:

Like us did anyone else buy off Arriba homes with only 15% deposit at first release.  If so what have you been told regarding your part of the bank guarantee and has any action been taken to call in the bank guarantee ?

Community thread: HOUSES IN ALMENARA BEACH

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