Tel: +44 (0) 330 124 1230  Offices in Leeds, Belfast and Spain

Helping People With Foreign Property Debt & Negative Equity.

Is Your Home in Spain, Portugal or Cyprus in Negative Equity?

We offer a completely FREE, no obligation, initial consultation

Is Your Home in Spain, Portugal or Cyprus in Negative Equity?

We offer a completely FREE, no obligation, initial consultation

Loan Sales and Vulture Funds

Vulture funds are often aggressive and will chase you for debt in the UK or Ireland. If your debt has been sold, it is important you get the right advice.

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Unfortunately, debt and loan sales go hand-in-hand. Most often, these sales involve what is known as ‘delinquent debt’ or loans that people have defaulted on. The ‘vulture funds’ that buy these loans are efficient and agressive in the puruit of debtors.

Very often these delinquent debts, weigh down Banks and affects their own financial operation. So, if debts, or a certain type of debt are non-performing they look to dispose of these. Meaning they ‘take the hit’ on their profits, sell them, and move on using the new funds to create more business for themselves.

This is a phenomenon which will develop more and more, because of who they sell these loans to.

Vulture Funds are typically established by international Hedge Funds or Venture Capital groups and are usually worldwide entities. This gives them the ability to extend their ‘tentacles’ into every market in the world.

Names to look out for are:

  1. Axactor
  2. E&G Solicitors
  3. Cerberus
  4. Apollo
  5. Lone Star
  6. Mars Capital
  7. Arrow
  8. Pepper
  9. Hipoges Iberia
  10. Nolon
  11. Finsolutia
  12. Copernicus
  13. Harri Hegoalde
  14. Eastcastle Funding
  15. Blackstone y sus filiales
  16. Fortress
  17. Elliot
  18. D.E. Shaw & CO
  19. Oaktree Capital Group LLC
  20. Lindorff.
  21. Colony Capital.
  22. Drago Capital.
  23. Bridgepoint

Be under no illusions. Vulture Funds are very efficient and strong at the recovery of any debt they purchase and therefore own the rights to. They pay a discounted amount to the Banks and financial institutions on holiday home mortgages and look to maximise their profit by recovering as much as they can of the book debts against what they paid for it.

Many people ask us what the Bank paid for the debt but there is no way of finding out on two main reasons:

  1. Usually it is a large book, on which they have paid a certain price for the whole, and
  2. They will never tell you; in fact, quite often their staff, when speaking with them, will have absolutely no idea.

As mentioned above, they are very efficient and far more intellectual in their approach than the foreign Banks in Cyprus or Spain. Thus, their ability to recover greater returns on these loans. As we said, they are usually worldwide entities, and consequently have strong cross-jurisdictional legal skills and know how to chase debt in any market.

They are aware of your UK assets

When considering their approach to the UK and Republic of Ireland, typically, they sit back and watch assets in those countries rise, e.g., on your home, since 2008. In simple terms, those assets have increased in equity, and that is the target for Vulture Funds.

Once they have established their rights in respect of the debt, they will write and demand full payment. If this is ignored, they will pass this on to very efficient large litigation firms to chase down this debt.

The operation is frighteningly efficient and ruthless. If you own assets, even in illiquid form such as your home….. one way or another, they will go after it, and they will get it, if you do not engage correctly with them.

As ever, it is vital to get the right advice (EU Property Solutions!) and attack the problem. Leaving it or ignoring it will do two things:

These large litigation firms, acting for Vulture Funds, charge ‘like a herd of buffalos’, and the cost can sometimes seem crazy. These costs are then are not up for discussion, particularly if you have ignored the process and their submissions to you.

It’s better to be safe than sorry

We don’t mean to sound negative, however this is a very worrying development and will extend even further into the holiday home mortgage market. We have even witnessed in Cyprus, Spain and Republic of Ireland, that Banks are now selling performing loans i.e. the mortgage has been paid up to date, but the Banks want to release cash from such books.

As ever, it’s good to talk, so call us if you fear this could affect you or if your mortgage/loan has been sold on.

It is free to talk to us, so please contact us now.

Alternatively, talk to us via our Live Chat or submit a Request a Call Back Form. One of our agents will be in touch as soon as possible.

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We offer a completely free, no obligation initial consultation

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We are a UK based firm with legal teams in Spain and Cyprus who understand the market and Bank practices as they stand. We remove the language barrier and utilise law, Bank lending flaws and current client circumstances to negotiate the best feasible outcome for all our clients.

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EU Property Solutions was formed following the success of our associate firm Bell & Company. An FCA registered firm of Debt Strategists, Bell & Company assist individuals in difficulty in the UK and Republic of Ireland with Personal and Business-related debt issues.

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We have an excellent track record of success. Our success stories and testimonials come straight from our clients & highlight the high quality of our works and outcomes. We have individuals willing to speak to prospective clients on the telephone to offer their story and experience.

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Our obligation is always to our client and that is where our strength lies. Debt is highly stressful and emotional. We deal with debt day in day out and employing an intermediary removes emotion from the situation allowing clear strategy to be implemented to get the best outcome for our clients. Understanding a firm of professionals is acting on your behalf can remove stress and focus the mind to a positive end goal.

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