ReclaimYourDeposit launches ‘No Win No Fee’ for Spanish claims

With 20% of all enquiries to the company relating to Spain, ReclaimYourDeposit.com has now launched a ‘No Win No Fee’ service unique to this popular second home destination. Providing clients can conform to four simple criteria, ReclaimYourDeposit.com will take on their case and try to recover a disastrous situation.

Director of ReclaimYourDeposit.com, Daren Wallbank, explains, “We expect a high level of interest in this new ‘No Win No Fee’ system as it gives clients the possibility of making a claim and getting their deposit back without the risk of high upfront costs and throwing good money after bad. It’s often the legal costs that provide the biggest hurdle for people who have already invested their life savings into a Spanish holiday home and really have no spare liquid funds available to them. There need be no barriers to using our service.”

Daren continues, “The reason we’ve selected Spain for this particular service is that we feel it provides a large enough pool of claimants, has good client protection in the form of bank guarantees and insurance bonds and also a fair legal system which should give us a strong chance of deposit recovery. We’ll only take on clients who can conform to four criteria: have in their possession the original private purchase and reservation contracts, have the bank guarantee or insurance bond certificate, have proof of payments and a contract that has expired without the property reaching completion. This paperwork is all a legal requirement and should be to hand for all clients, although many developers and lawyers failed to provide it which in itself is a cause for legal action.”

Currently Spain forms 20% of all registrations with ReclaimYourDeposit.com followed by Bulgaria on 19% and Dubai on 15%.

In Spain ReclaimYourDeposit.com will target either the development company or the financial institution involved in the project and keep 30% of the reclaimed proceeds in the event of a successful action - subject to a minimum of 15,000 euros.

Visit reclaimyourdeposit.com, email info[at]reclaimyourdeposit.com or join our FaceBook Group “Reclaim Your Deposit”.