As we all know Brexit happened, and some people believe this is a potential to break from their debt issues in Spain, or they see it as a layer of protection against the Banks, when in fact, it is the opposite. Spanish Banks actually are becoming more aggressive since Brexit.
Impact of Brexit on Spanish holiday homes for ex-pats.
Brexit changes nothing in terms of:
We at EU Property Solutions have seen in the run up to, and since Brexit, a hardening of the foreign Banks’ resolve to sort out all problems relating to holiday home mortgages in Spain.
As mentioned on our page in this website ‘Bank Chasing Banks in the UK’, the EU Statute No 655/2014 allows for the recovery of foreign debt in the UK and will remain post Brexit.
This increased resolve of the foreign Banks to sort out the issues relating to these mortgages will also see their other option of selling these loans to Vulture Funds. These types of companies are a very different proposition in that:
As ever, we at EU Property Solutions implore you to take action, if you want to sort out your negative equity loan / negative mortgage.
Delay means you leave your fate in the hands that put you into this terrible position, namely the Spanish Banks.
In conclusion, it is our opinion that Brexit will have a worsening affect to those facing negative equity in Spain.
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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.
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.