Posts Tagged ‘costa del sol’
Are you a victim of the 2008 financial crash with unwanted property in Costa Del Sol? If so, this post is for you.
For many, the idea of owning a holiday home on the sunny south coast of Spain was a dream come true.
Unfortunately, due to the aftermath of the 2008 property crisis, this dream quickly became a nightmare. A lot of these foreign property owners have now been lumbered with incomplete units and lost deposits. Essentially sucking them into a problem that wasn’t theirs, to begin with.
We recently took a trip to Costa Del Sol to visit the developments in the region including Duquesa Village in Manilva and Casares Golf Resort. Both of these developments are listed on our Wall of Shame.
As we are committed to standing up for you and taking the fight back to the big banks, we find that these trips are helpful to keep an eye on the status and condition of these properties.
You can take a look at some of the photos from our trip below:
So if you have an unwanted property in any of these developments please get in contact with us, help is at hand. At EU Property Solutions we know that things can look bleak for those of you still paying astronomical mortgages on unwanted foreign property.
We understand the situation all too well:
- You may not understand the Spanish laws.
- You may not understand the Spanish bureaucracy. Understanding the language can be another issue. It is very easy to feel like you have your back against the wall.
This is where we come in. Armed with our expertise and knowledge. We are your best bet in reaching a satisfactory solution.
We have helped countless ex-pats in their fight against the banks, and greedy property developers to claw back their hard-earned money.
Check out our YouTube channel to hear from our clients themselves. Our free online E-Book also does a good job of explaining our mission and how we can help you. Alternatively, you can also consult our blog for further guidance on how to navigate these issues.
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.
Spanish Holiday Home Values to Decline
Uncertainty and the markets do not go well together, the Spanish Property market & Spanish holiday homes are no different.
NOBODY, BUT NO ONE KNOWS what is going to happen in the coming months because of Coronavirus.
For sure Spanish Property prices will decline – the extent of this drop is unknown. Spanish Property Expert, Mark Stucklin, completed a survey recently for his website which you can find on www.spanishpropertyinsight.com to get feedback as to how Covid-19 would affect Spanish Property Prices. because and or so how together and are there
Key points relating to Spanish holiday homes:
- 57% of respondents think house prices will reduce a lot (greater than 10%),
- 37% of respondents think house prices will reduce a little (up to 10%), and
- 6% of respondents think there will be no impact on house prices.
Yet another potential house price collapse, this will be alarming to borrowers as many are already self-declared “Mortgage Prisoners” in other words, with mortgage balances greater than their property value.
There are ways through this, and EU Property Solutions’ legal process can help avoid a protracted sale and the associated sales costs. It is key to respond.
So, if you have:
1. Negative equity,
2. Falling rentals,
3. Lender issues,
4. Interest-only problems, or
5. Anything that relates to your property in terms of its problematic disposal….
EU Property Solutions have options and plans for every individual case as we ensure to protect you, your income, your home, pensions, and other assets – from any potential legal threat.
SEE BELOW A TESTIMONIAL FROM A VERY HAPPY & RELIEVED CLIENT.
WE HAVE THE SOLUTIONS TO DEAL WITH SPANISH PROPERTY DEBT ISSUES AND ALLEVIATE YOUR FOREIGN PROPERTY DEBT.