Posts Tagged ‘Alicante’
Are you in Negative Equity and do not understand the meaning?
Sort out your Spanish property issues today! In simple terms; Negative Equity occurs when the current loan or mortgage balance secured on a property is higher than the current market value of the property. Subsequently, some borrowers refer to them as Negative Mortgages.
For example, if a borrower’s current mortgage balance is €150,000; but a recent comparable property may have sold for €100,000 (before selling costs of c8-10%)…this borrower is in Negative Equity and faces a mortgage shortfall of €50,000+.
Such Spanish property issues/shortfalls are due and payable in full as and when the property is sold or disposed of.
EU Property Solutions have had contact with and helped many hundreds of people who purchased in Spain and across Europe at the height of the crazily inflated market, pre-2008.
These couples and individuals took out huge mortgages which were too readily available. These scenarios in turn later left the majority of mortgage holders in some form of financial difficulty. Leaving them exposed to an asset with falling value.
Many who still own a property in Negative Equity feel trapped. They are unable to move on, being dubbed ‘mortgage prisoners’ or ‘Stuck in the Sun’.
Furthermore, EU Property Solutions are experts in Spanish Mortgage Law; assisting borrowers who still suffer from a Negative Equity loan. We and our hand-picked legal teams work with all lenders across Spain. We can tailor our services based on your circumstances and lender.
A recent example saw us settle a Negative Equity position on a proposed sale of c€120,000 for £25,000 including costs. Genuine telephone testimonials are available to support our work.
Borrowers often bury their head in the sand. They face the very real risk of Spanish mortgage default or Spanish mortgage repossession. These scenarios can be life-changing and will expose your UK Assets and Income.
Dealing with the situation and acting now is key. EU Property Solutions legal team in Spain is ready to assist.
Don’t be a mortgage prisoner – let us find you a way out of this predicament.
Call EU Property Solutions today on 0330 124 1230.
Following the UK confirming that those returning from overseas travel will have to Self-isolate for 14 days, the Spanish Government has followed suit imposing the same restrictions. With this in mind, the question is – will you be receiving no rental income in 2020?
This year’s Summer Holiday season may well and truly be cancelled.
If you are reliant on rental income to support:
- Your mortgage payments,
- IBI taxes, and
- Community Fees on your Spanish Second Home –
The above will see you face increasing pressure to top-up payments from your home income.
Speaking with a local Costa Del Sol Agent:
- It was confirmed that many Second Home Owners will take on long term rentals but given supply, these rental agreements will be very low in income.
Furthermore, many will be left without employment & may fall behind on their rent.
Second Home headaches are stressful enough in more positive times, but in these trying circumstances, they can be a real burden.
EU Property Solutions can end this burden in an effective manner without the need to travel to Spain.
We can help so your not asking yourself if you will be receiving no rental income in 2020?
Especially if the mortgage is greater than the true market price and the associated selling costs…which can be as much as 12%.
EU Property Solutions have options and plans for every eventuality, ensuring we protect you, your income, your home, pensions, and other assets – from any potential or ensuing legal threat.
WE HAVE THE SOLUTIONS TO DEAL WITH SPANISH PROPERTY DEBT ISSUES.
CORONAVIRUS – NO TRAVEL, NO PROBLEM – WE HAVE THE SOLUTION FOR YOU.
The world continues to be an uncertain place. In the UK the Government has announced its stepped plan to restore normality in the midst of Coronavirus – travel restrictions. We can help you get rid of your overseas property – without visiting Spain.
One thing that has hit the headlines is a 2-week self-isolation for those returning from abroad, bar France.
This is clearly detrimental for those looking to get rid of property overseas, especially during this period. No one wants to self-isolate for 2 weeks having been on lockdown for some time.
EU Property Solutions legal process allows you to get rid of your overseas property without visiting Spain. Here is how:
- You swear a Power of Attorney allowing our Legal Team in Spain to represent you and sign documentation in the country on your behalf. This is arguably the most you will travel – to a local notary to have this document sworn.
- We will arrange access for a Lender Valuation. Just give us the keys or tell us your keyholder’s details.
- We will communicate with the Lender on your behalf. Including any face to face requirements.
- We will sign the Legal Paperwork and conclude the case on your behalf.
Trust is key in this process. Trust us to do right by you and we need to trust you will cooperate to get the desired conclusion.
If your Spanish property is detrimental, especially now during this pandemic ~ respond. Allow EU Property Solutions to resolve the matter on your behalf from the safety of your home.
EU Property Solutions have options and plans for every eventuality. We ensure we will protect you, your income, your home, pensions, and other assets – from any potential or ensuing legal threat.