Spanish Property Off-Plan Property Lost Deposits

Unfortunately, many people have lost off-plan deposits due to Spanish property disputes not being handled effectively. This results in losing large sums of money which can prove difficult to receive back without professional help. During the Spanish financial crisis in 2008, many property developers filed for bankruptcy, meaning that those who invested were left with unfinished property’s and loss of deposits, as well as stage payments. By virtue of this, they were left with no other option other than to abandon developments and due to unforeseen financial circumstances expenses were never refunded.

If you require immediate attention and would like your current case to be considered in greater detail, our soliciting practice incorporates the knowledge and skills required to settle disagreements. Here at Sarah Waddington Solicitors, we will effectively review, assess and evaluate your case to guarantee we gain all the necessary information needed to meritoriously solve your lost deposit property issue. Whether the case is minor or major, we always reflect on the final outcome. Therefore, if you are sceptical about the Spanish Legal System, we will assist all your legal and individual requirements, ensuring a reclaim of your rightfully deserved payment.

The Law involved in Spanish Property Deposits

As part of the Spanish Law, builders and developers who received deposits for property expansions were informed that they placed this money into a completely separate account and provide customers with a bank guarantee. This litigation meant that if developers unfortunately failed to complete the building work, they would have set aside enough funding to make returning payments to the customer. When this law was first created, legal authorities made it clear that developers should observe and conform to these requirements.

However, when the property crash hit in 2008, it became obvious that contractors did not respect and keep this money safe, meaning that they could not repay customers the deposits they acquired during the first stages of development. 2008 was the period of financial despair for developers in Spain. The country was unable to remove themselves from the situation due to a lack of funds and financial backing. When the crash first established, the Spanish government took a step back when supervising the financial sector which led to the banks violating regulations and resulted in economic cutbacks.

Supreme Court Ruling for Loss of Deposits

On 21 December 2015, the Spanish Supreme court issued a landmark judgment that the property developer’s bank is responsible for missing money deposited in their accounts. Holding them jointly responsible for the lost deposits, property developers and Spanish Banks could now be pursued for a reclaim of the misplaced payment. In the UK, there were around 100,00 investors who were thought to have submitted payment to developers in Spain, with the hope that their dream holiday home would-be built-in time for their next trip.

When financial crisis occurs it undoubtably leaves residents in distress as they have lost an excessive amount of money, leaving them unsure as to whether they’ll ever obtain this deposit again. As Spanish banks are worthied liable to refund all deposits made on unfinished properties, entities who have suffered from the recession could receive their refunds, which includes the original capital lost plus a rate of interest. It is essential to remember that each case is complex and you can only submit a claim through the courts once.

Preparing for Your Refund

Before seeking legal entitlement and progression, we recommend being fully prepared to ensure you have all relevant paperwork and evidence required to continue with the financial dispute. If you choose to enlist our services, and in the case where we may need to go to Court, this is an integral part and will increase your rate of success. When property developers went into administration, some tactically evaded making ongoing payments back to the customer, ensuring all of their expenditure was reimbursed.

However, when preparing for your repayment you must be aware that improperly taking action against accountable banks will dramatically decrease your overall chances of victory within your dispute. You still have the ability to reclaim your binding agreement, confirming that the legal entitlement remains valid. Alongside pursuing the guidance from specialists, we always inform clients that this process comes at an affordable cost, however we certify it does not compromise the quality we input into each case. Baring in mind that we work on a no win, no fee basis, it is guaranteed you will not miss out on your rightful entitlement.

Enlist in Sarah Waddington Solicitors Services Today

Over the years, our legal representatives have tailored the consultation process and we now offer a free, no obligation assessment of your case, offering guidance and support in all aspects. We undertake a formal and professional service, aiming to triumph in opulence for your personal legal settlement. With the necessary experience to efficiently handle each individual requirement, we acquire the ability to deal with the Spanish court, holding complete jurisdiction when acting as one of your representatives.

Helping you take action against the bank in order to receive full repayment, alongside an added interest on top, there is no better to way to resolve your financial implication than to get in touch with one of our legal experts. We are able to proficiently gain an insight into the individuals dispute and provide customers with a full understanding before beginning any processes. If you’ve lost money on an off-plan property, contact us today and we’ll immediately assist and create a case that will suffice against any bank. Call us on 01924 601112 to discuss your legitimation in further detail.

A Metcalf May 2021

It’s finally over and we are out of the timeshare.

When I called in October last year and you answered the phone I was in a very bad place, having just realised I was being scammed again by J Foster Associates. You managed to calm me down and get my money back. I will not forget your calming voice that day and I will always be crateful to you for that. All the staff at Sara Waddington Solicitors have been excellent and the whole process has been smooth.

Mr B Davey

On behalf of my wife and myself, I would like to say a big thank you all at Sarah Waddington Solicitors who have helped us resolve our timeshare problem, you have put our minds at ease. I will not hesitate to recommend you should anybody who has a similar problem ask me in the future. Thanks again. Best Regards Mr B J Davey, Mrs J A Davey

Mr Terrence Webb

Former owner at Fortina Spa Resort, receiving over £14,000 in compensation. - "I was much relieved to be put in touch with you and I am just too impressed for words at the professionalism of the company."

P.A. Hobson

Thank you for your letter confirming the relinquishment of my timeshare. I was very pleased to receive it. I would like to thank you and your team for all your hard work, you made it very easy for me. All I had to do was be patient. So thank you very much and should anyone ask I will definitely recommend you.

Gary Semley

On a personal note today, after hearing the European Claim Centre (on the phone) call your company a 'scammer', today's conference came as further reassurance that we were absolutely with the right company. You may not realise it but your direct, and matter-of-fact 'bedside manner' left us in no doubt that we were under the care of very professional people (not that we should have needed any more reassurance).

Chris Roberton

Sarah gave excellent service and kept us informed in releasing us from Diamond Resorts points timeshare. Quite a relief to not have to pay those ever increasing maintenance fees. Thank you Sarah.

Mr and Mrs Andrews

When we got that final letter indicating that our membership with Diamond Resorts was now at an end it was such a relief. Financially it would have crippled us if we'd had to carry on paying the maintenance fees that were rising every year. When we took out our membership it was fine but everything went downhill after Diamond Resorts took over the business. It became a very expensive luxury which we could not afford and age and health became a problem. Diamond were very unhelpful when we tried to relinquish our membership and that was the reason why we turned to you for help. We would like to thank you for your help in this matter and we are more than happy with the representation and advice which you gave us.

Alan Clark

Sarah Waddington Solicitors has recently contested, and successfully won a flight compensation claim for me. I found them to be very friendly, helpful and extremely professional. The contact was minimal throughout with no hassle, and I was kept up to date with proceedings as things progressed. I received the full amount of compensation (although when I initially challenged the Airline myself they told me I wasn't entitled to anything!!) for which I am delighted. I would have no hesitation contacting Sarah Waddington again or recommending her to family, friends and colleagues.

Arman Mazlum

A first class service from an approachable yet highly professional practice. Dealt with my flight delay claim extremely swiftly and with minimal hassle. Much recommended.

Carol Walker

When the maintenance fees for our time share soared in price we decided to try and " get out of our contract" after much discussions we were told that it would be very difficult if not impossible eventually we were put in touch with Sarah and she said she could help. After many months of contact with the timeshare company Sarah was successful and our contract was cancelled. Sarah kept us informed every step of the way. So if you are looking to cancel your timeshare give Sarah a call I am sure she will give you excellent advice.

Colette Walton

When we were first told that Sarah Waddington Solicitors could terminate our contract with a points style timeshare company, we were concerned that it wasn't a legitimate claim, as we had been told by the timeshare company that it wasn't possible. However, Sarah Waddington's have managed to terminate our contract for us, for which we are very grateful. We were kept informed throughout the case, very politely and professionally. We would certainly recommend Sarah Waddington Solicitors to anyone who is having the same problems.

David Williams

I am very happy with the service and support Sarah has provide to me, in dealing with a complex case over the last 12 months. I would have no problems recommending Sarah to any of my friends. I have contacted other law firms in Leeds and found them pompous and arrogant, Sarah is not and works well those who have less or no legal knowledge. I would advise any new clients, Sarah is user friendly.

Paul Goodhall

Just received my cheque for over £600 for my Flight Delay claim which was handled by Sarah Waddington Solicitors. I had a flight delay with my family a few years ago and after coming across their website submitted my claim which was simple and stress free. They were able to get my compensation within a few months on a No Win No Fee basis, was well worth the wait and the fee and would highly recommend them to my friends and family which I have already done. The money will now go towards a much needed holiday for my family again and as much as the delay caused us to miss 3 hours of our holiday, to receive this money it goes a long way towards compensating us for the loss of the time and inconvenience. I now happily await the next 3 hour delay!!

Dr Pilkington

Thank you very much for your help on the Timeshare matter. I cannot tell you how relieved I am!

S Gerscher

It is indeed great news, my wife is highly delighted as there was the worry of anything had happened to me she would have struggled financially yo pay these fees. May I take this opportunity o thank you and your colleagues for making this possible.

Mr & Mrs Betchley

Thank you for all the work that you ad the team carried out for our Timeshare relinquishment.

Mrs & Mrs Laughton

Thanks to all the team at Sarah Waddington Solicitors for their expert assistance & work in bringing this Timeshare matter y a successful conclusion. I would recommend your Solicitors practice without reservation to others who may now have reached a stage in their life where circumstances are changing.

Mr & Mrs Allen

Many thank once again for all the work you have done to draw this Timeshare issue to a close. It is very much appreciated and a great relief.

Mr & Mrs Cumberauld

After seeking to free ourselves from the trauma of timeshare, pestered by organisations who wanted to “help”, but it felt like timeshare selling all over again! We then found the team at Sarah Waddington Solicitors. An incredible team that communicates frequently and they successfully steered us through to our relinquishment. What a result SWS has our deepest thanks.

Mr & Mrs Sides

Thank you so much for getting me out of my Timeshare contract and getting all my money back. Please accept my very sincere thanks for all your help and hard work on my behalf. I cannot begin to say how grateful I am.

Ms G Cope-Brown. 3/06/2019

“Thank you to the team at Sarah Waddington Solicitors for getting me out of my Timeshare. We were impressed with just how quick and easy it was”.

Ms Aerts, Berkshire. 13/6/2019

“I would like to thank Sarah Waddington Solicitors for dealing with my Holiday Sickness Claim on my behalf. I have now received the compensation that I was rightfully owed and I’m very grateful for all of their help”

Mr Rowley. 13/6/2019

“On behalf of Mrs Evans & I. We both thank you so very very much, for your determination & persistence in managing to resolve our claim against, Vuelling Airlines. Lisa, you have shown so much empathy & understanding to us both in this long fought battle & I hope your superiors appreciate that your a great asset to their firm!!!You have made to over 70s very happy & we shall recommend your firm to others, who have had similar unfortunate & stressful dealing with Airline Companies regarding similar flight cancellations. We shall now book another holiday but no flights with, Vuelling Airlines!!!'”.

Mr & Mrs Scullion, 14/6/2019

“Hello to all, just received the excellent news regarding our claim against Fuelling Airlines and would like to thank you for all your hard work and perseverance regards our claim excellent result”

Mrs Evans. 14/6/2019

I would like to thank everyone at Sarah Waddington especially John Hurley for Issuing proceedings and getting me out of the contract I had with Club la Costa. It's a relief to have that weight taken off me. I would recommend this business to anyone in my situation.

Ms Vail. 19/6/2019

Thank you for your call today letting us know we are out of our Timeshare, we are both so grateful for this piece of news. At this point, we are both looking forwards to finally thinking about 'living' again after the last four years or so of feeling like we'd completely wrecked the financial lives of our children as well as our own. Thanks to the persistence and sheer hard work of Sarah Waddington Solicitors it is now dawning on us that we can move on with our lives and we are eternally grateful to them for this.

Mr & Mrs Semley, Barnsley. 24/5/2019

Thank you to Sarah Waddingtons for their help terminating my timeshare contract- it is a great relief to have this finalised so that my daughter does not have to be bothered with it in the future

Ms Yellop. 29/7/2019

Thank you to Sarah Waddingtons for their help terminating my timeshare contract- it is a great relief to have this finalised so that my daughter does not have to be bothered with it in the future

Mr & Mrs Pask. 07/8/2019

We have today received a letter from Lena Karisson of Palm Oasis confirming our contract is cancelled. Hallelujah it has taken a lot of time and work to achieve. So thank you.

Ms Toone, Leicestershire. 28/8/2019

Thank you for getting me my compensation for my holiday sickness claim, such a relief. Please extend my thanks to Ornella and Alfie for bringing this to such a satisfactory conclusion.

Mr & Mrs Ramage 4/9/2019

We are delighted at the work carried out on our behalf, and our successful relinquishment of our timeshare by Sarah Waddington solicitors, and all so quick and pleasant. Mr Robert Adam was a joy to talk to and kept us informed throughout the process.

Mr & Mrs Jervis 10/9/2019

A big thank you to Sarah Waddington and her team for the hard work and unflappable, steady and reassuring professionalism throughout. Thanks to the team’s efforts and expertise we are finally released from our timeshare contract

Z Chaieb 21/10/2019

Richard Ricks is a knowledgeable, helpful, professional, understanding, and calm Barrister. He dealt with my case incredibly well, and got me the result I needed and wanted. I would highly recommend him to anybody in need of legal support.

T.G. & R.A. Booth. 21/10/2019

We are extremely grateful that Sarah Waddington Solicitors have managed to cancel our contract with Club la Costa. It has been like an albatross around our necks and it hasn't helped the health issues that we both have been suffering from for the last few years. It feels like a great weight has been lifted.

Mr and Mrs Byrne 27/9/2019

We have received today 27/9/2019 a letter from V C Lawson Legal Dept Diamond Resorts confirming our contract with them has been cancelled, it has taken 2 years and money to do it but we are finely FREE hooray!!!.Thank You for all the work you have done to get us and our family out of all this situation.

Contact Us Today

Contact Sarah Waddington Solicitors today by calling us direct on 01924 601112 or emailing us on info@sarahwaddingtonsolicitors.co.uk. Alternatively Send us a message and one of our professional team will be in touch with you shortly.

Remember, there is no obligation to instruct us so contact us now for your free consultation.