As you already know, Spanish Government repealed 57/68 and approved a new regulation for bank guarantees, to come into force in January 1st, 2016.
This new regulation, 20/2015 Act, establishes that developers and banks are forced to guarantee deposits just if the building permission is in place. Buyers who decide to invest in off plan properties with no planning permission in place have no right to request bank guarantees.
In our opinion, this new regulation is against European Consumer Protection Laws (European Directive 93/13/CEE), and that's why we have filed a complaint at EU Commission.
We will keep everyone posted through this blog.