Being Pursued In The UK/ROI

I bought a property in 2007 in the resort of La Cala in the Costa Del sol. This was an Interest only mortgage of €194,000. In 2008 the housing market hit rock bottom due to the financial crash leaving me and many others in Negative Equity.

The interest-only period had ended, making my monthly repayments treble to €1600. This amount was way out of reach for me, and the debt began mounting up.

“I bought a property in the popular development of Alboran Hills in Costa Del Sol. This was purchased during the property boom and was my dream holiday home. Little did I know this would turn into my worst nightmare.

After the financial crash in 2008, I was unable to continue to pay the mortgage as this had become unsustainable. To make matters worse, a charging order had been placed on my property in the UK due to the arrears owed. I was shocked and didn’t know where to turn. I was so worried about what might happen.

The bank in the UK wouldn’t allow me to make any amendments to my mortgage, and I was suffering financially. I had these restrictions placed on me, and I felt trapped.

After doing some research online, I contacted EU Property Solutions. They assessed my situation and advised me that they would be able to assist me. I instantly felt better, knowing that help was at hand. They kept me informed every step of the way, and managed to successfully negotiate a deal with the bank, and I was able to surrender the property.

I now feel that I can move forwards with my life. I can get the extension on my house done that I always wanted.

I just want to say a big thanks for all the hard work you have done to solve these problems, if I ever hear of anybody else going through the same problem I have, will always put your name forward thanks again.

The burden of this debt was very traumatic. It’s always on your mind, giving you sleepless nights, and all I did was worry about how I was going to get out of this situation. I own my house outright in the UK, and I constantly worried about it being taken away to pay off this debt. This was not a healthy situation to be in.

We owned a property in the Casares area in Estepona in Spain that we could no longer sustain financially. The mortgage had not been paid for a considerable time, and the bank was intransigent in its conditions to release us from the mortgage.

The property had been with a local agent for about 3-4 years, and we could not sell at the bank’s valuation of the property.

We had received a communication from British Solicitors informing us of the bank’s intention to act in the UK. This was incredibly worrying for us, and we had to find a solution.

We are of pensionable age and were facing the prospect that we would be forced to sell our UK property to pay the bank. We were also paying for community charges though we had not used the property for some years.

Local taxes had also accrued.

After contacting EU Property Solutions in a very short space of time, they prepared a case for us and represented it to the bank. The bank agreed to take the property back in full and final settlement of the mortgage, which was considerably larger than the value of the property.

They also paid all outstanding debt attached to the property without detriment to our credit rating in the UK.

In short, to coin a phrase, ‘we feel that an enormous weight has been lifted from our shoulders’.

We no longer feel gloomy about the financial future, and our nightmare in Spain has been ended.

I would not hesitate to recommend EU Property Solutions to anyone who finds themselves in similar circumstances. They were quick, professional and extremely efficient. They did what it says on the packet

I contacted EU Property Solutions after they were recommended to us by a close friend of ours. We had purchased a property in the popular resort of Alboran Hills in the Costa Del Sol however, the holiday dream had quickly come to an end.

It had come to the point where the property was in negative equity and many other owners were leaving the development. There was no financial future in holding on to this property.

This situation had become financially draining and stressful. It was preventing me from planning a future with my family. Not only that, my home life was suffering. I needed to have some important repair work done on my UK home, and this was preventing me from having this done.

EU Property Solutions intervened and took complete control of the situation. They kept me informed of everything that was going on and communicated very well. I learnt that this process was much quicker and less stressful than tackling it alone.

Now I feel like a weight has been taken off my shoulders. I am freed up and can plan ahead financially. The burden of making the initial decision has gone, and I honestly feel like my life has more hope! I can also travel to other destinations on holiday.

I would recommend EU Property Solutions to anyone in a similar situation. For me, not paying the mortgage whilst this process was underway helped me enormously.