By Wendy Williams
SPAIN’S so-called ‘property roadshow’ has come under further criticism as it emerges the government’s promise of reforms will not help foreign homebuyers who have lost their savings.
The roadshow – funded by the Spanish taxpayer – is aiming to shift a glut of unsold homes that is overwhelming the market.
But it has now emerged the Spanish government is ruling out help for thousands of Britons who have already lost money thanks to controversial land grab laws or due to the issue of legality.
Spanish housing minister Beatriz Corredor refused to pledge help for existing British homeowners caught up in property scandals.
“There are 850,000 Britons living in Spain and these problems apply to fewer than one per cent,” said Corredor.
She explained compensation would only be paid to Britons “if the courts order it” – meaning those buyers unable to afford lengthy legal action, stand little chance of recouping their money.
As reported last issue Labour MEP Michael Cashman and campaign groups such as Spanish Banks Guarantee Petition are branding the roadshow an insult.
A Spanish-based PR firm Purple Cake Factory, which has several property clients, has since used its Twitter feed to call Labour MEP Michael Cashman an “idiot” for urging Britons to avoid investing in Spain.