New hope if your mortgage offer is withdrawn

Hi everyone
I've searched this forum but can't see anything relating to this - although my lawyer has told me this is very new.
I was persuaded to put down a deposit in 2007 for an off-plan property in Malaga on the basis that i would be guaranteed a mortgage at a good rate so that i could pay the balance. obviously the world has gone to pot since then and i am being pushed to complete on a property where the mortgage has been withdrawn and i can't get one anywhere else.
My brother in law is using an English company BSN to deal with a property issue in Bulgaria and he recommended them to me as they have a very good lawyer in Spain - i don't think I'm allowed to name lawyers?
Anyway, the BSN lawyer has told me that there is a new directive being applied in certain areas whereby people like myself, who have bought on the strength of a promise of a mortgage that has since been withdrawn, can now choose to take their deposit back and cancel the purchase. The developer has to pay this back.
He said it is so new that it is not being applied throughout Spain yet but that will happen eventually. I am ok being in Malaga.
Maybe you have this info elsewhere on your site but I just couldn't find it - but it's definately something people need to know about.

hi
i've just seen this and would like to know more as i'm being chased by a developer to complete but i can't get the mortgage now that the agent promised me. the agent is MRI and they don't want to know. in fact i was contacted by MRI to say the were going into voluntary liquidation.
my property is in murcia - is this applicable there? who is BSN? can you mention the law firm if your not saying anything bad about them?
lawbird, can you confirm this new law as we are a bit deperate? is this true?
thank you

Dear Padre and Nicole,

I would be grateful if you could give me some more information, namely the details of the contract, the status of the development and any communications you have received. This way I will be able to give you a precise answer. Regarding BSN it sounds to me as Banco Santander!!

It is possible to talk about lawyers, why not? We are subject to scrutiny just as any other professional and we luckily live in a democracy!

With regards to the Directive you mention I have never heard of it although if it happened it would certainly be of big help. There are some lawyers I am aware of that are invoking this as being a valid reason to pull out but, as far as I am know, it is just not possible unless specifically made a condition of the contract.

hi again
i'm being chased by Corvera Golf. they have now hired a law firm in uk to chase us. my purchase contract is with them but MRI guaranteed the mortgage and now i can't find a bank to lend as the property is not worth what i will have to pay. I still have my last payment of 46K to pay. i am discussing my situation with irwin mitchell but, as of time of writing, they have not heard about this new law/ruling - whatever it is. martinez echavarria are - soon to be were - my lawyers and they have my paperwork.
i'd much rather get my money back than get a mortgage.
it's very confusing!!!
if you can find out about this lawbird it would be great.
thanks

Hello Padre,

We are able to help you but I will need to have a copy of the contract as well as any other documentation you may have. I am aware that Macanthony company was far from honourable when dealing with their customers and as a result there are numerous customers with very subtantial legal problems.

You can email me directly should you so wish.