Increased Mortgage Repayments: Options available
Increased Mortgage Repayments: Options available Our Spanish Legal Team in San Pedro have reported a worrying trend in some Spanish mortgage products. Many of these products are now moving away from there 10 year interest only period and moving to repayment. The issue we are finding is the jump in payment amounts is very substantial….
Costa Del Sol Property Shortfall : Saving of €170,000
A couple based in Northern Ireland bought a property in Costa del Sol at a value of €240,000. Given the dramatic decline in of the property market, the house was in Negative Equity totalling to €180,000. Furthermore, the development became run down and left unoccupied due to lack of interest. The couple contacted our office…
CAN MY SPANISH MORTGAGE BE PURSUED IN UK OR ROI?
THE SIMPLE ANSWER IS YES. This may not be what you want to hear and any number of ‘Bar Room’ Lawyers will tell you otherwise but under various EU Statutory Provisions, debts can be chased/collected across borders. We have assisted many people who tried to ignore their commitments/debts and ended up under pressure from their…
What happens to Negative Equity in divorce?
If you are going through a divorce a looking to dispose of a troublesome asset in Negative Equity then both parties will be liable for the debt. Having signed the mortgage contract both parties are joint and severally liable for any debt or issue with the financial product. EU Property Solutions have experienced in the…
I want to sell but how do I communicate with my foreign lender?
An empty holiday home is a headache. No rental income can make it difficult to keep up with Mortgage Payments, Associated taxes and Management fees and is an investors worst nightmare. This alone is a reason to sell. EU Property Solutions assist clients with the orderly disposal of foreign property assets. Depending on your situation…
Property experts offer Brits a way out of negative equity
Millions of people fell victim to the recession that seemingly hit every corner of the world. However one of the most prominent economic collapses was that of Spain. Resulting in millions of people losing money – as well as their homes – the Spanish recession hit lots of Brits hard. And although the country is…
Common issues facing UK residents with holiday homes in Europe
For Brits wanting to escape to warmer climates, European countries such as Spain have become a haven. Offering around 300 days of sun a year, along with a friendly culture not too dissimilar from the British and a laid back lifestyle, there’s no wonder that an estimated 2.2 million expats are living in EU countries….
Property experts highlight options for EU property owners in Negative Equity
Europe’s property market remains extremely uncertain, with the impending EU Referendum not making it any more stable. Those who purchased property abroad a few years ago are now finding themselves in the unprecedented situation of being in negative equity. EU Property Solutions has extended a lifeline to homeowners struggling to see a way forward with…
We Offer Expert Advice in Run-Up to Potential Brexit
As the UK hurtles towards the vital referendum on membership of the European Union, EU Property Solutions is offering its considerable expertise to property owners who are concerned about the implications of a Brexit. The firm is encouraging those worried about a Brexit, or considering selling their foreign property in the coming months, to…