23 Dec, 2014 @ 10:00
1 min read

Three victims of Ocean View Properties scandal in Estepona become first to win back thousands of euros

A VICTIM of the Ocean View Properties (OVP) scandal in Estepona has finally won back €89,000 of the money he feared was lost forever.

The beachfront development lured hundreds of optimistic Brits, along with England footballer Gareth Barry, into putting down deposits.

But in 2010 the project went bust after it was revealed the land still belonged to its original owner.

Blame was bandied about between the developers and OVP as hundreds of people realised their Spanish dream was ruined.

However three victims, including Northern Irishman Ollie Reel, have finally found light at the end of the four-year tunnel.

Teacher Reel has had a claim approved for €130,000 – €89,000 after costs – thanks to the Mortgage Claims Bureau in the UK.

“It came as a complete surprise, I was delighted because I felt like I’d never see any of the money again,” explained Reel, whose three brothers, all in their 40s, also invested in the scheme.

“I’m now €89,000 better off than I was last Christmas, which is brilliant.

“But I will continue to fight for the rest of my money, about €130,000, and I will not stop until I get the criminals involved put in jail.”

Reel’s claim was approved because he received financial advice from a regulated advisor before investing in the development.

The Mortgage Claims Bureau has now achieved three successful pay-outs, two for €130,000 and one for €103,000.

Around 100 families, who made payments to OVP totalling €7.6 million, formed an action group in 2010 to try and claw their money back, but with no success as yet.

“Almost a thousand Brits put down their €94,000 deposit for what they thought was their dream,” explained Peter O’Donnell of the Mortgage Claims Bureau in Sussex, England.

“But they all lost badly, and then put all their energy into trying to sue OVP and the developers.

“We want to spread the message that we can help.”

The Claims Bureau operates on a no-win no-fee basis. For more information on making a claim, visit www.themortgageclaimsbureau.co.uk or call 00441903 868251

Tom Powell

DO YOU HAVE NEWS FOR US at Spain’s most popular English newspaper - the Olive Press? Contact us now via email: [email protected] or call 951 273 575. To contact the newsdesk out of regular office hours please call +34 665 798 618.


  1. That is good news. Only another 90 plus families waiting.
    The no win no fee basis is interesting. Different from the Spanish Lawyers who want at least 6000 euro before they will initiate proceedings.

  2. I’m a chartered accountant, not a regulated financial advisor, but from examples I’ve come across , I certainly would never rely on advice given by one of them. The problem s that the average bloke doesnt know any better so he believes what he is told. At least though, in cases like this, the client can make claims.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Story

Christmas recipes with a Spanish twist and a wine list to boot

Next Story

PP General Secretary claims ‘all of us’ are to blame for corruption

Latest from Lead

Go toTop

More From The Olive Press