proposed rental prices?

Has anyone as yet, had their bank guarantee renewed/extended?

I have written off to all concerned to try to achieve this end, but as yet I have had no response!

Anyone with any input................................

Hi Joe

I live in Murcia and having purchased a villa on Trampolin Hills have decided to go and visit the head office later this week. I have a bank guarantee which ends shortly so am going to ask to have this extended. If they are not prepared to do this then I will instruct my lawyer to try and get my money back. This is not something that I wish to do as I think the resort will be great when finished but I am not prepared to take the risk of having a worthless bank guarantee if all goes wrong.
I will let you know how I get on after my meeting.

Thank you
Emma Beechey

Hi I am also in the same boat. Today I have instructed my lawyer to either thry and get my money back or get an extension
Are your guarantees with La Caxia??

Keith

Emma,

We are in the same situation as you.  We have a bank guarantee which expires on 14 August.  It can be renewed but you have to do it directly with the bank and not TH.  I'm not going to say anything about a company guarantee because we do not have a company guarante neither do we want one.  But our bank guarantee is with La Caixa bank in Murcia and we are in the process of having it transeferred to La Marina where my parents live so they can pick it up for us.  We are having a meeting with our solicitor and TH on 20th and will decide then what we are going to do.  In reality we do not want to give up in which case we will renew the guarantee.  If decide not to go ahead we will get our money back but lose the black money that we put down.  After my father being rushed to the Cardiac Unit in Torreveija during the early hours of Monday morning I think there is more to life than to worry about money.

I know, I know there are plenty of you shouting out "But we're not all in the same situation as you".  But life's too short and if you make mistakes, bad decisions, get s**t on by people, so be it.

I'm still having on in there with hope though.

Tracy

Tracy

It seems we are neighbours. I am on plot 12 with a villa Triana.
I think I will be going to the resort tomorrow so will post any update on developments when I get back.

Emma

Hi Tracy,

You are absolutely right. Your situation, is indeed your situation! 

However, if and when the time comes to initiate proceedings, then we really should come together and form a group to deal with the legalities and undoubted hardship and grief to follow. Not to mention the expense! 

Sorry to hear about your Dad, here's wishing him a speedy recovery!

Regards

Joe

Hope this helps, from ano forum:


I have always been of the opinion that whereas it is possible for a local judge to be 'a little biased' in their resolutions in some cases, and where perhaps the outcome rather favoured an 'outside agenda' (have I been subtle enough...?), I have also been of the opinion that once a case goes to the Supreme Court, the letter of the law would be upheld. That the Supreme Court cannot/would not ignore the law.

Many of us with Bank Guarantees know that some banks (on instruction from the developer? I don't know) actually include an expiry date. Our BG certainly had one. This is technically known as an 'illegal clause' because the spirit behind the BG law is that a purchaser's payment should be protected up until the property is handed over at the notary's office with all licences in place. Payments are not supposed to be protected only until a date the bank/developer picks out of the sky.

As a consequence many people due to delays in their properties being finished (or indeed delays due to revoked licences or the property not fullfilling its original spec) have ended up with an 'out-of-date' Bank Guarantee and it was felt that this rendered their BG totally useless. For many it has been virtually impossible to get a BG renewed once expired on the lamest of excuses from lawyers and/or developers.

In February 2008,  I have heard that a precedent has been set by the Supreme Court. A bank wanted to refuse payment on a BG as the expiry-date had passed - and the Supreme Court in their wisdom, upheld the law that a Bank Guarantee - regardless of the expiry date - must be taken as valid until the property is handed over.

For once, this is a great piece of news where the Supreme Court has disregaded the 'clever game' of banks and developers. Expiry-dates on BG's will no longer be acknowledged, and the letter/spirit of the law has been upheld. So in my opinion, to all those sitting on an out-of-date Bank Guarantee, don't feel you are no longer covered. A very nice precedent has now been set