Legal tip 1318. Mortgage on an illegal property? Did the Bank impose a mortgage on you?
Thursday, September 3, 2015 @ 2:23 PM
Do you have a mortgage on an illegal property? Did the Bank impose the mortgage on you?
I have recently been reviewing great pro-consumer, pro-buyer Case Law on illegal mortgages. We have several clients suffering from these situations: either because of having mortgages on illegal properties or because the mortgages were illegally imposed on the buyer.
So….maybe not you (lucky you), but perhaps a family member or a friend is in one of these predicaments:
- Is paying a mortgage which was imposed on them before completing because the developer had over-mortgaged the development with no previous consent of the off-plan buyers
- Is paying thousands of euros for a mortgage on an illegal property.
There is now Case Law for a solid defence of these situations in favour of consumers. Good punishment to Banks again!
A field closed to Zahara de los Atunes, Cadiz, Costa de la Luz, South west of Spain