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