Eight banks in trouble for not disclosing VPO houses on their books

The Junta de Andalucia has opened proceedings against eight financial institutions for failing to disclose to the municipal authorities the number of unoccupied VPO (subsidised) houses in their possession.

Failure to disclose information on unoccupied VPO houses is viewed as a very serious offence and carries a fine of between €30,000 to €120,000. According to the Ministry of Development, the financial institutions have a total of 185 such properties on their books for which municipalities have waiting lists.

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