However, the British investors who lost substantial deposits have now been given hope of recovering their money by the Spanish courts.
Judges in Spain have said that people who lost money when ‘off-plan’ developments failed to be built are entitled to claim financial redress from the Spanish banks who failed to protect the deposits.
This decision will apply to properties that were left uncompleted or where building never started at all.
The precise number of people affected by this legal development is unknown but could hit 6 figures according to a BBC report.
Slee Blackwell Solicitors have been working with Spanish Abogados (lawyers) based in Madrid and Alicante for some months to enable claimants in Britain to recover compensation in Spain on a No Win, No Fee basis.
Anyone who has lost their deposit on a Spanish property development and wishes to claim compensation from a Spanish bank is invited to call our FREE Spanish Property Legal Helpline on 0333 888 0404 or email us at [email protected]