WHEN taking advice regarding financial matters there are always many options to consider. Financial institutions, banks, mortgage providers and loan companies will all offer advice regarding what they consider is the best option for your particular situation. Unfortunately, all of these companies offer advice that is connected to their own business model, and that might not be the best advice for you or your money.
Poveda Abad has only one focus for the advice they provide; that is to deliver you the best possible recommendations. The partners have a wealth of experience between them. Angel Poveda Ferrando has been a lawyer in Javea for 23 years, although the family- run firm has been practising in the area since 1957. Juan Antonio Abad has a history of 22 years in the banking sector. They have now joined together to assist their clients with any financial issues they may have.
As Juan said: “We are seeing a considerable number of clients with complaints about financial instruments – mortgages, share purchases and investments. They have been sold these products on the basis that they are the best for the client. Unfortunately in many cases the only benefit is for the company that sold them.” One specific area of concern is where a mortgage is offered in a different currency and the client is assured it is of benefit to them.
Juan continued: “The selling of mortgages in different currencies can look attractive to the client but in reality they could find themselves locked into a contract that could see their investment fluctuate widely, and in most cases to their financial detriment. In these cases the only winner is the institutions that sold them the product.”
When Juan and Angel have a client with such issues they will stop at nothing to resolve the complaint and to achieve redress so that the client gets restitution.
Many of these financial products are mis-sold, said Juan. They are either not suitable for the level of risk the client desires or they will never produce the returns promised. He added: “We are seeing more and more of these toxic products causing distress and hardship for the people who have bought them and it is our aim to fight each case with passion and integrity.”
As with most things, if it looks too good to be true then it probably is and if you find yourself in that situation, Poveda Abad are the people to call.
Poveda Abad Abogados – Lawyers, 1.20 Centro Comercial Arenal, Avda del Pla 126, 03730 Javea, Alicante
Tel : 96 579 62 38 Valencia – Avda Baron de Carcer 31-3-6, 46001 Valencia