A married couple from Hertfordshire approached us with their holiday villa in La Cala Golf & Country Club. They had an outstanding mortgage of €678,000 with Banco Sabadell. The property was valued at c€559,000 and with selling costs this would have left a shortfall of c€180,000.
The couple were paying €3,208pcm on the Spanish property which was unsustainable for them as their home mortgage was moving from interest only to capital repayment.
EU Property Solutions were appointed and negotiated with the Bank to achieve the disposal of the property and a complete shortfall debt write off.Success