Bank Guarantee Petition and the Spanish Property Roadshow 2011

Spanish Secretary of State for Housing, Beatriz Corredor

A few months back, I engaged in some private mail with a poster called ‘Roots’ on the Spanish Property Insight forum. Roots has, along with another poster called ‘Keith110’, long been campaigning to bring to account the Spanish government, the Bank of Spain and any number of lawyers, estate agents, developers and well just everyone connected to the issues concerning abusive practice and abject failures, in relation to many Bank Guarantees given to British buyers that have not been honoured.

It is an enormous and disgraceful tragedy that people such as Roots and Keith110 have had to now dedicate so much of their personal time and lives to seek redress and action on the part of the Spanish government and in fact the whole real estate industry, over something that I’m sure started out for them as an exciting adventure into buying a home in Spain…

It has been devastating for them I am sure, as it has been for many who have suffered terribly also from the Land Grab Scandals that have incredibly been allowed to burgeon in regions such as Valencia predominantly, and ended with the quite staggering demolition of the home of Helen and Len Prior, which has often featured on TV and in the UK national press and for whom there seems to be no compensation or redress yet in sight.

All of this because these good people wanted to buy a home in Spain, and because of the trust they put in the country, its laws, its banks, its developers, estate agents and lawyers.

It is a disgrace. I recently saw a comment from another long-term poster on the Spanish Property Insight Forum which simply stated that it beggars belief, and my goodness it does.

Last month also saw a presentation by the Spanish Secretary of State for Housing, Beatriz Corredor, at the Property Investor Show in London, which was part of the Spanish Property Roadshow 2011, attended by Keith 110 and also the MEP Marta Andreasen amongst others, to effectively stand up for all the petitioners and folk who have been affected by both the Bank Guarantee and Land Grab Issues.

I wasn’t there, but Keith 110 has posted on the SPI forum over several months the intentions of his group and what happened as a result. Marta Andreasen has also posted her own experience of her fiery meeting with the minister on her blog.

Basically it is a shambles for the minister and the government. They set out late last year on a roadshow around Europe to convince people why it is the time to invest in and buy Spanish property. But it seems all they have done is shoot themselves in both feet, as well as adding fuel to the ongoing fire and ire of so many British people who simply expect some common decency and justice to be applied to their – plain as the nose on your face – unfair, grossly negligent and downright disgraceful treatment.

As I’ve said, it just beggars belief.

Personally, I haven’t got a clue what to do or say about it all that would help. I wrote a private forum mail to Roots, back I think in July, offering our own blog as a vehicle of protest. But then as we are in the business of selling real estate, we could be considered with extreme distrust or even as the enemy quite frankly. I certainly can’t gain by highlighting failures which I may actually have contributed to with the promotion of developments in the past. An apology from me isn’t worth a light, I know. But for better or worse I have this blog, where I can at least say that I support everyone campaigning on behalf of the various groups involved. I can highlight various links and bring attention to these efforts.

I have also just seen a BBC link about these issues which certainly adds to the perspective. But as yet none of this seems to shake any sense into the Spanish authorities. Or a government that is so desperate to see its construction industry kick start, to see the take up of a glut of property on certain Coasts, and to encourage particularly British people to once again buy property in Spain in significant numbers.

But how can they expect, with monumental stupidity, to seek to sweep under the carpet the concerns of people like Roots and Keith110 who have been promoting their petition on Bank Guarantees for several years now right across the internet and a dozen forums. It’s as worthy a cause as anyone associated with Spanish property could ever see. Check it out and support it.

It has I am sure taken a huge amount of time and effort to put together, to promote, to present to all manner of government departments, agencies, news associations etc.

And yet, unbelievably the Spanish minister turned up at a Property Investor event and did not personally even give the time of day to the petitioners. I despair, I really do. Such a head in the sand reaction as has been demonstrated so far will end nowhere but badly.

We in the business all promoted the safety and security of Bank Guarantees. We believed them to be sound, exceptional protection and as certain surety for any failures upon the part of developers or local governments et al.

It was largely upon this supposed exceptional protection, that buyers could be certain that their decision to make a massive personal investment and lifestyle commitment in buying a home in Spain would be safe.

Yet today it all seems so much of a con trick, a rip off, a device that no one wants to take responsibility for, to pursue, to put right the wrongs committed.

Well, I’m sure we have all developed a whole new view of banks and bankers full stop. Given the experience of the past three years in the worldwide economy, none of which I suppose actually helps these petitioners now, because with all banks in such dire straits it could just make this seem a little local difficulty.

But it isn’t, and it won’t go away in fact, until the Spanish government takes a long cold look at why it wants inward foreign investment and buyers of homes in Spain. What has to be provided to those folk from all around Europe, and until it puts together a cohesive plan for the future. Then there will be no significant return of mass interest in owning a home in Spain.

We ourselves of course still sell properties to new folk every day, the world hasn’t stopped. These days this is all on behalf of private vendors and as it happens the legal and real estate community has had such a deserved and hell of a beating over ‘illegal builds’ first coming to light some six years or so ago, that they are only just recovering some confidence from buyers and are truly now ensuring that their clients are fully protected.

Yet these buyers are often long-term visitors to the area, family or friends of existing owners, experienced investors, already home owners and or residents, people who let’s say ‘know their stuff’ when it comes to buying property.

If the Spanish housing ministry truly wants the country – and its Costas – to fulfill its fantastic potential, then I am certain it has to revisit its past. It has to put its house in good order. It has to demonstrate that people like Keith100 and Roots, and the thousands who support them, have to be heard and their issues resolved.

This will probably be one of the longest posts I ever write for this blog. If you have got this far, you might wonder what on earth an estate agent such as I was through all the years that these abuses were being carried on, is doing being righteously indignant about all of this. With no obvious benefit, what is my actual motive?

All I can say is, I have posted the links above as just a small token of support to these guys who are so active in their campaigning in the hope that every little bit might just help. I don’t want to be part of sweeping real problems and concerns under the carpet. If I can keep the light shining on the mess, then I am happy at least to do that.

It isn’t right. We have an amazing future ahead of us on our beautiful Costa del Sol. We have had our problems, yet we also need to face up to those that are still unresolved. Something desperately needs to be done, and be seen to be done, to look after people who have been so badly affected by serious negligence in the past.

MEP, Marta Andreasen

Some of us have hopefully learned from our mistakes. If we haven’t, then we are doomed to failure. But while there is a chance to resolve these other issues outstanding, then all the more power to Roots, Keith 110, Marta Andreasen, Michael Cashman – also an MEP – and the many others who have all been so active.

Then, come on the Spanish and British Governments and the wider European Community. Put things right for these people. Put together not a Spanish Property Roadshow 2011 – no. But put together a proper inquiry into these abuses and a real and long-term solution to the losses people have suffered.

My goodness, all of these people only wanted to come and own a home in Spain. Is it right that they have suffered so much, and do we expect others to follow if those dreams are left in broken pieces?

We could go bust putting posts like this on our blog. That’s what some of our personnel might think. Me, I happen to think we will certainly go bust if we don’t do our bit to own up and say when things are so wrong.

Go sign the petition folks. Oh yes, and Keith110 has also set up a Facebook page.