A First For The Spanish Property Industry

Thursday, 19 November 2009 11:46

‘Safe Purchase Spain’ has launched in Spain to great acclaim as estate agents, the legal profession and private owners seek to ensure that their properties have the protection of a real insurance backed guarantee that provides legal support and financial compensation for 20 years after buyers have purchased.

‘Home buyers can now confidently pick up the keys to their new Spanish property knowing they have 20 years protection by investing in a Safe Purchase Guarantee,’ says Ian Hawkins, Director at Safe Purchase Spain.

Ian Hawkins firmly believes that house buyers want to protect their investment against unforeseen future difficulties. He came up with the concept after working for 10 years as an estate agent in Spain dealing with clients with very real concerns.

‘Working within a largely unregulated industry I always acknowledged the excellent work of other property professional agents and lawyers committed to advising and helping their clients. This commitment is a vital ingredient in the Safe Purchase process.

‘Spain has had a lot of bad press in recent years but the country still has a great deal of appeal to foreign buyers, not least the weather, friendly locals, infrastructure and easy and cheap accessibility from the UK and Northern Europe. I genuinely feel that people want to buy here but have held back for fear of losing a major investment. This way they can buy without worry.’

So what exactly is Safe Purchase and what does it offer?

Exclusively through the network of Safe Purchase Certified Partners, the Safe Purchase Guarantee is available to buyers and existing owners of property in Spain, the Balearic and Canary Islands. It provides insurance cover against fraud, identity theft, illegal building licenses, demolition orders, community disputes, unfair quotas, hidden defects, vendors and builders debts, administrative procedures, access problems, hidden leases, defective property sizes, border disputes, land registry inscription problems, illegal vendors and much more.

The Safe Purchase Guarantee includes a title insurance policy underwritten by Caser Seguros, one of Spain’s largest and most well-known residential insurance companies, established since 1942.

It provides cover for 20 years from the first day of ownership and up to 360,000 euros in compensation for monetary losses.