Communities suffer as banks fail to pay fees

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STANDING EMPTY: Many communities cannot afford to fill up and maintain their swimming pools.

COSTA property owners are missing out on services such as lifts and swimming pools due to a legal loophole banks are reported to be using after repossessing homes.
A new study on community fee debts in Spain placed Malaga Province at the top for outstanding debts in Andalucia, with a total of €75.6 million left unpaid. Banks and financial institutions ought to be responsible for almost a quarter of this amount.
College of Administrators President Fernando Pastor explained that after repossessing properties from owners unable to keep up with mortgages, many banks are managing to avoid paying fees by not changing registration of the property until they sell it on, meaning communities can do nothing to force payment of fees.
Pastor said this is causing big problems for communities and urbanisations. Many have found funds so low this summer they have had to give up on filling and running swimming pools, lifts and even had to sack community cleaners.
Pastor has called for changes to the Horizontal Property Law to force banks to pay up.
“If there was a maximum time period for them to change the registration, the problem would end,” he declared.

2 COMMENTS

  1. the banks want to pay up and stop other people suffering for their lack of paying what they should.
    no doubt it is a good thing for the banks having kicked owners out not to re register the proprty
    kay

  2. I remember reading an article in a Spanish newspaper about 2 years ago where it had laid out all the electric suppliers, water suppliers, telephone companies and banks of Spain, then they showed the politicians that where connected to those companies, mostly all the politicians at the top where related to these companies… so, things will never be made better for the consumer and be in the favor of the politicians and government while that situation exists but things will never change and there will there will always be corruption while the lunatics are running the asylum!

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