At EU Property Solutions we have seen and helped hundreds of clients who have taken out interest-only loans in the past and are now paying the hefty price.
Before the 2008 crash, banks enticed buyers with initial low monthly repayments on their mortgages. They were then mis-sold properties with the expectation that the property values would rise quickly. Typically, banks sold these mortgages with 10-15 years of low interest-only repayments before paying off the actual loan.
Many buyers, like yourself, were lied to and promised guaranteed rental income to more than cover the monthly payments. It is entirely understandable that buyers were dazzled by the lure of relatively small monthly repayments and attractive yields.
Now, these interest-only terms are beginning to come to an end. As a result, we are seeing increasing numbers of ‘dream homes’ turning into foreign property nightmares. A recent client came to us after finding out that his monthly repayments would go from €250pm to €2,150pm.
A lack of due diligence by ‘professionals’, decreasing property values and lack of rental income has left many people trapped. Unable to pay your mortgage and unable to sell, it can be hard to know where to turn.
At EU Property Solutions, we fully understand the issues involved with interest-only mortgages and we strive to bring hope and support to people struggling with the financial repercussions of mortgage terms ending. If you are in this situation, contact our specialist team today to know all the options that are available to you. Don’t forget to check out our latest webinars on YouTube: Click Here!
Our FREE book gives delves deeper into interest-only mortgages and what we have learned in our many years of experience in the field of foreign property debt, you can click here for an e-book version or email us at [email protected] to receive your free hard copy today.
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.
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.
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.
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.