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Deposits lost on off-plan Spanish property purchases 

Spain’s Supreme Court could finally offer closure to the estimated 100,000 Britons whose dreams of owning a place in the sun ended in disaster when constructors and builders went bankrupt or just disappeared and left the development unfinished.

With this new Court Ruling in place, many Britons who lost their deposit to secure a property ‘off-plan’ and/or who made further stage payments can now claim back their lost monies. The average deposits paid were at least £60,000 and some much higher, as the companies involved were hit by Spain’s financial crisis in around 2008.

Now Spain’s highest court is holding the banks responsible for the missing money deposited in their accounts which could allow British victims to claim back up to £4bn in lost deposits, according to research by the law firm Spanish Legal Reclaims.

Although official data is not available, Spanish Legal Reclaims estimates that Spanish banks could be forced to refund up to £15bn to “off-plan” buyers from across Europe who lost their deposits in the crash.

One such person caught in these tragic circumstances was Stephanie Davis and her late husband who lost around 75,000 Euros. They intended buying their ‘place in the sun’ on the Costa del Sol and had paid this as a deposit plus several additional payments, totalling over half of the150,000 Euros asking price.

Stephanie now has her fingers crossed as she is now in the expert hands of Spanish Legal Reclaims of Barcelona, who are in the process of claiming her monies back. There is no language barrier for her either, as Spanish Legal Reclaims speak English and will handle the whole case on her behalf.

With more Britons owning a holiday home in Spain than any other nationality, UK citizens were hit hard by Spain’s property crash.

Spanish Legal Reclaims has unparalleled expertise in this area of law, and has formed a dedicated legal team to help non-Spaniards lodge a successful claim and win their money back on a no win, no fee basis and, as mentioned previously, they speak English.

Spanish Legal Reclaims can be contacted by telephone in Spain on 936 804 563 or in the UK on FREEFONE 0800 689 0687. Alternatively by email to:

info@spanishlegalreclaims.com. Also, for more information and to see other case studies visit: www.spanishlegalreclaims.com