The company, which comprises a UK-based legal services company and a full service Spanish law firm, will provide advice to clients of FEIFA who are experiencing problems with properties bought in foreign countries.
Neil Heaney, chief executive officer of Judicare, said the overseas property market has been the subject of “enormous activity over the past few years” with expats looking to invest in the property market either as an investment, second home or even as a main residence.
“This brought to the marketplace not only the seasoned investor looking for an alternative and interesting vehicle for wealth creation but also the speculative first time buyer drawn towards the exciting and glamorous prospect of owning their dream home in the sun,” said Heaney.
“Glossy brochures and the aspirational motives of investors drove demand for many foreign property destinations and consequently lifted projections to unrealistic numbers as the appetite spread”.
FEIFA chief executive officer Paul Stanfield, added: “As a result of the global downturn, combined with a slowing in the property boom, many of these investments have been derailed for various reasons in recent years – leaving the investor or prospective homeowner (and at times the IFA) wondering what to do and who to turn to for advice on their situations.”
FEIFA members will now be able to provide access to the Judicare service for any clients who find themselves facing property related issues in a foreign country.
