About Us

Why use Costa Luz Lawyers?

Listen to Keith Rule, the CEO of our UK office, explain in his own words how he fought and won the first case against Spanish banks. Keith’s landmark ruling paved the way for thousands of off plan buyers to claim their money back

Keith Rule, CEO of our UK office, was and is, the main advocate for the liabilities of banks in off plan developments in Spain. His fight began in 2007 and his continued efforts and lobbying has led to the development of Supreme Court ‘Case Law’ relating to the liabilities of off-plan property developer’s banks according to their obligations under Spanish Law, LEY 57/1968.  He has been called the ‘Erin Brockovich’ of Spanish off-plan property.

Thousands of off-plan buyers are entitled to refunds of their lost deposits from off-plan property in Spain. Some are not aware that they are entitled to a refund, whilst others are finding it really difficult to fight their case. That’s where CostaLuz Lawyers can help…if you purchased an off-plan Spanish property that has never been completed, or if you have completed the purchase but the house still doesn’t have a First Occupation License, we have the expertise to help with your claim.

Our Service Includes

  • Claims against developer’s banks for advanced payments made for off-plan property purchases in Spain
  • Claims against banks for illegal properties
  • Claims against banks for handing back properties in lieu of the outstanding mortgage debt
  • Claims against banks for Floor Clauses (Cláusula Suelo) which effectively imposed a fixed interest rate in Spanish variable rate Mortgage contracts
  • Claims against banks for set up expenses in Spanish mortgages
  • Claims against Timeshare companies for mis-sold timeshare contracts in Spain

We are not a new firm or service launched on the back of the recent LEY 57/1968 Supreme Court Sentences.  We began research into the liability of off-plan property developer’s banks in 2008 and filed our first Lawsuit against an off-plan property developer’s bank in 2011, which was won with a landmark sentence in 2012.

We get asked a lot of questions about reclaiming off plan Spanish property deposits, here are some of the most commonly asked questions:

What am I entitled to claim back?

You can claim all amounts paid off plan, plus legal interest normally from the dates you paid to the developer’s bank account.  Legal costs may also be recoverable in some cases.

Are banks actually paying this money back?

Yes, they are. Banks are solvent entities that must comply with the law.  All banks with a firm court decision against them are refunding the claimants. Even if the developer’s bank no longer exists, action is still possible against the bank that has taken it over.

How safe is this action?

The Spanish Supreme Court has already interpreted the full text of LEY 57/1968 in favour of buyers/consumers, so the success rate is very high.

How liable are Spanish banks?

A recent supreme court ruling in September of 2016 has paved the way for further liabilities.

Does this apply if I bought more than one house?

It does, as long as you didn’t do so as part of your professional trade. It also applies if the contract mentioned these guarantees explicitly to secure the success of the business.

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