In partnership with another couple, my wife and I purchased a villa in Playa Golf II near Cabo Roig in 2007 for €198,000 euros plus taxes using a mortgage of €170,000 euros.

The mortgage was a 15-year interest only, followed by a 15-year capital and interest repayment.

We were in a ‘fool’s paradise’ paying only €138 per month due to the historically low interest rates since 2009.

However, due to the global crash, our property was worth less than €125,000 euros with very little hope of an increase in the foreseeable future.

With the switch to repayment mortgage looming in 2022, we faced an increase in mortgage repayments from €138 to approx. €1,400 per month.

With a negative equity of €50,000 plus costs, we were unable to sell the property.

Our own situation meant that we would be unable to service such a large increase in monthly charges.

Myself and my wife have retired with a fixed income, and our friends have two daughters whose university fees need to be met, so we would not have had the income available to pay such a large Spanish mortgage. This is when we decided to contact EU Property Solutions to seek an answer to our seemingly unsolvable situation.

Naturally, when the news came through that it had been a success, with everything being written off and no longer a burden, we were elated and relieved.

Having had time to reflect, we have no regrets about proceeding with our case. Even though initially we had a deep mistrust of anything to do with the Spanish property market, EU property solutions assured us with their professionalism and diligence in coming to a successful resolution.

Without a doubt, we would recommend EU Property Solutions to someone in a similar situation.

They are one of the few totally trustworthy organisations that we have dealt with during 11 years of Spanish property experience.