The legal team at MySpanishDeposit will pursue a claim for your deposit, plus interest at a fixed yearly rate set by the Spanish Government, typically between 3-6% per year. Your claim will be assessed for free without any commitment, and there is zero obligation, zero up-front cost and zero risk to you. If your case is unsuccessful, you won’t pay anything. If your claim is successful, you will pay a fixed percentage of the sum awarded, with no hidden fees and no extras such as VAT. If you need help with completing your claim, call or email us now.
Register with MySpanishDeposit and lawyers from Hausfeld & Co and Eskariam will review your claim free of charge on a no-obligation basis. If you have a case to pursue, the legal team will work with you to bring your claim on your behalf at no cost and no risk to you. You can start your claim here or contact us for more information here.
While your claim against insolvent developers may have failed in the past, since a ruling from Spain’s Supreme Court in 2015, you can claim against the developers’ banks who are now legally liable for the losses. Any previous and unsuccessful legal action against a developer will not be taken into consideration – you can start a fresh claim.
There is no up-front cost. The lawyers will pay for all expenses and pursue your claim on a no-risk, no-cost basis. If your claim is successful, you will pay your lawyers a fixed percentage of the sum awarded, with no hidden fees and no extras such as VAT. If your claim is unsuccessful, you won’t pay anything at all.
No. You risk nothing by letting us handle your claim. If your claim is unsuccessful, you won’t have to pay any fees or costs, and you also won’t have to pay the costs of the other side, which will be covered by the legal team. If your claim is successful, you will pay your lawyers a fixed percentage of the sum awarded, with no hidden fees and no extras such as VAT.
When deposits were paid into the developers’ bank accounts, their banks should have made sure that each deposit was put into a specially protected account or, alternatively, covered by an insurance policy or bank guarantee. The reason for this was to provide the customer with legal protection so that their deposit would be refunded if the developer went bankrupt before the property was built.
Many developers didn’t do this, so when they were declared bankrupt, they were unable to refund the deposits. In 2015 the Spanish Supreme Court declared that, as the developers’ banks hadn’t put the appropriate protections in place, the banks themselves should pay back the deposits to customers who lost out. This means that if you lost out, you can now claim against your developer’s bank. You can start your claim now here or contact us for more information here.
To claim your deposit back, you must lodge a claim before the Spanish court and obtain a judgment from a Spanish judge. In order to do this, you will need to be represented by Spanish lawyers. If you register with MySpanishDeposit, you will be represented before the Spanish courts by local Spanish law experts Eskariam. Eskariam’s team have successfully acted for over 4,500 claimants, making them the market leaders in off-plan deposit claims. Lawyers from Eskariam were instrumental in obtaining the 2015 Supreme Court decision in Spain that made these claims against the developers’ banks possible. Hausfeld is an international law firm with extensive experience acting for large groups of claimants, including consumers. The team also has a significant track record in bringing high-profile cases against major banks.
By instructing the legal team at MySpanishDeposit, you will get the benefit of an international law firm, together with the expertise of highly regarded local lawyers, to bring your claim at no risk or upfront cost to you.
The deadline for making a claim is 7 October 2020 and the claim must be lodged at court before this date. However, Spanish law requires that various legal formalities for each individual case must be complete before a claim can be lodged. Also, the sooner your claim is started, the sooner your money may be recovered. This means that if you are affected, it makes sense to register with MySpanishDeposit now.
Eskariam will handle your claim in the Spanish courts on your behalf, so it is extremely unlikely that you would need to visit Spain or appear before the Spanish court.
Claimants who register with MySpanishDeposit will be represented by a legal team comprised of English and Spanish qualified lawyers from Hausfeld & Co and Eskariam. Eskariam’s team have successfully acted for over 4,500 claimants, making them the market leaders in off-plan deposit claims. Lawyers from Eskariam were instrumental in obtaining the 2015 Supreme Court decision in Spain that made these claims against the developers’ banks possible. Hausfeld is an international law firm with extensive experience acting for large groups of claimants, including consumers. The team also has a significant track record in bringing high-profile cases against major banks. By instructing the legal team at MySpanishDeposit, you will get the benefit of an international law firm, together with the expertise of highly regarded local lawyers, to bring your claim at no risk or upfront cost to you.
If your claim isn’t successful, you won’t pay a penny. Other firms may require you to pay legal costs.
No. If your claim isn’t successful, you won’t pay a penny. Other firms may require you to pay legal costs in the event your case is unsuccessful.
To get proof of payment of your deposit, contact your bank to request statements that show the payment was made. In some rare cases, the legal team at MySpanishDeposit may be able to pursue your claim without all of the documents requested. Please contact us for more detail.
Once you have completed the registration process, the legal team at MySpanishDeposit will manage your claim for you, on your behalf. The team will provide regular updates on the claim’s progress. You will not need to spend time managing it yourself.
Following a Spanish Supreme Court ruling in 2015, you can now claim the money back from the banks who held your deposit on behalf of the developer. Register to start your claim against the banks with the legal team at MySpanishDeposit now.
If you lost your deposit on an off-plan holiday home due to complete before 2016, and you have the documentary evidence, you are likely to have a strong claim. If you register with MySpanishDeposit you will be represented by lawyers who have brought successful claims for over 4,500 claimants. Register with MySpanishDeposit today.
Registering with MySpanishDeposit will take just a few minutes. The registration form asks for your personal details and you will then receive an email asking you to upload supporting documents, so that your claim can be reviewed. On receiving the relevant documents, the legal team will confirm if you have a claim, and will send you your client engagement pack, within 72 hours. If you have a claim and wish to proceed, the Spanish lawyers will then prepare your claim to be lodged in the Spanish courts on your behalf. The length of time required to process claims can vary, but the typical length of time taken to reach judgment is between 18 to 24 months from registration.
It typically takes 18 – 24 months from registration to receive a court award.
The interest added to your deposit by the court uses a fixed annual rate, set by the Spanish government, applied for every year since the deposit was lost. This rate is typically in the range of 3-6% per year and could be worth approximately 15-20% of the value of your deposit.
The only document that will need to be notarised is the Power to Litigate. This will allow the legal team at MySpanishDeposit to pursue your claim on your behalf. The team at Hausfeld will make the necessary arrangements for this, for you in the UK at the appropriate time. You will not need to pay any associated fees.
This is not a problem. Through the registration process, you will provide the legal team at MySpanishDeposit with all the information needed to launch the claim and manage it for you. Your claim will be brought in Spain by Eskariam’s Spanish-qualified lawyers. The Eskariam team has a significant track record in successfully claiming against the banks for lost deposits, with over 4,500 successful recoveries to date.
Yes, even where deposits were paid to a co-operative, rather than a developer, they should have been protected by the same system of guarantees and/or insurance. So, pursuant to the Supreme Court ruling of 2015, if you lost your deposit through a co-operative, the developers’ banks are still liable to pay you back.
Compensation for losses will be transferred in euros. If you have a EUR bank account, there won’t be any exchange rate. If you have a GBP bank account, the amount will be subject to your bank’s exchange rate. Your bank might also charge additional payment fees. For further information you should contact your bank and request confirmation of the fees and exchange rate they charge for payments received in foreign currency into your GBP bank account.
Yes, although these claims can be more challenging to pursue in the courts. For more detail and for guidance on completing the registration form, please contact us to discuss your situation in more detail.