Get help with property debt issues in Spain
A combination of reckless practices and widespread mis-selling has left Spain with one of the highest levels of property debt in Europe.
Whether you are stressed by negative equity or worried about an interest-only mortgage, we can provide the solutions you need.
Negative Equity: Property Value Less Than Mortgage
Negative equity is the most common form of property debt however, this does not make it any easier to deal with.
Interest Only Mortgages
Interest-only mortgages were endemic in Spain before the financial crisis, often pushed as a more affordable and attractive alternative to a traditional mortgage.
Struggling To Sell Your Foreign Property
The property market can be uncertain at the best of times. As a result of this, thousands of homeowners in Spain deal with negative equity.
Consequences of Property Reposession
Property repossession is commonplace in Spain. Lenders will often resort to repossession if you fail to keep up with your mortgage repayments. The real problem arises after this.
Can’t Afford Your Property?
When purchasing a second home or investment property, it is rare that you plan for the ‘worst-case however, it can be easy for your foreign property to become unaffordable.
Received a Letter from a Spanish Bank
Spanish lenders can sometimes be slow to contact you regarding your property debt however, this does not mean that they have forgotten about you.
Loan Sales, Vulture Funds & Third Parties
As Spanish lenders struggle to recover money from borrowers, they are increasingly resorting to loan sales. They sell large quantities of loans to third parties for a very low cost.
Was Your Mortgage Mis- sold?
Prior to the financial crash in 2007/8, lenders gave out mortgages with little to no due diligence and high loan-to-value ratios. This has resulted in a variety of issues.
Ready for a Spanish property debt solution?
If you are worried about a foreign property debt, contact us today to receive your free consultation.
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Making us feel that we had control
“They were able to write off over €150,000 with a minuscule settlement amount. I cannot describe my relief when I got the news. I am more than pleased with the results and their service throughout and would implore anyone in the same position to give them a call.”
