At last, I bring good news for people who paid deposits for properties that have never been built.
For those who have paid them into developers’ bank accounts, they should be refunded by the bank even if the developer is no longer trading.
And if that’s not enough, interest is paid on the deposit.
Regarding the repayment of interest on mortgages, banks are instructed by the courts to repay interest to customers whose mortgage agreement has resulted in them paying interest above the market rate.
There is good news too concerning the plusvalia tax, a capital gains tax applied by a local municipal council in addition to the one by the Autonomous Community e.g. Andalucía. Continue reading