EU Property Solutions assist people daily who have significant mortgage arrears and missed community fee payments. Many borrowers who purchased properties in Spain were not aware of the associated costs such as Community Fees and IBI taxes. These additional costs and Mortgage Debt in Spain can result in significant stress.
Community fees are owed to Community Presidents in Spain. These Presidents are charged with ensuring the community in which you have purchased is visibly up to scratch – for example, the maintenance of common areas, swimming pool cleaning and general upkeep of grounds.
It is important for borrowers to keep up to date with these fees as debt collection can be instructed by Presidents in Spain to the UK and Irish Debt Collection Agents.
If you cannot pay your Spanish mortgage and fall into arrears, then your mortgage balance will increase. Missed payments are added to the balance along with penalties and interest. Furthermore, you risk legal action and ultimately you are putting your home assets and income at risk if you do not act.
If you cannot maintain payments on your Spanish property, then swift action is needed. If you act quickly through an intermediary, such as EU Property Solutions, then the matter can be brought under control and an amicable and desirable outcome achieved.
In most Spanish settlements we can achieve the surrender of the property to the Bank and a complete debt write off, we can even negotiate some Community Fees arrears and IBI tax arrears into the settlement.
If you are struggling with any repayments on your Spanish Property call EU Property Solutions on 0330 124 1230 for a free case review.