Staff Reporter
EU Property Solutions are Specialist Debt Strategists who assist individuals with European Property Debt.
The Spanish property market suffered severely following the global financial crisis of 2008 with property values dropping significantly. Many people found that their properties were in Negative Equity which occurs when the value of the property is less than the outstanding mortgage.
Subsequently, many who had invested their life savings in their dream holiday homes were finding it increasingly difficult to keep up with the mortgage repayments. This had a domino effect and people were falling into financial difficulty, leaving their UK assets at risk.
EU property Solutions can help those in this situation.
We provide the correct strategies and solutions to solve complex and problematic property issues. Please rest assured that help is at hand.
• We have 30+ years’ experience in this complex field, of property finance issues.
• We have an expert legal team in Spain and Multilingual team members.
• We will assess your circumstances and offer the most appropriate solution.
• We can offer references happy to discuss their case and experience with us who have suffered the same difficult circumstances.
• We have completed cases across Southern Spain including the Costa Del Sol and Costa Blanca working with a variety of Spanish Lending institutions.
• We have testimonials on our website from our satisfied clients. Please visit www.eupropertysolutions.com
Here is an example of a case recently completed by the team:
An elderly couple purchased a property North of Valencia, with the intent to rent out the property, but also utilizing it as a holiday home. This was their lifetime dream and they were excited at this opportunity.
They borrowed €180,000 on an initial 10-year interest only period.
Unfortunately, following the collapse of the Spanish property market the value of the property plummeted to just €90,000. This had turned into their worst nightmare.
This dire situation was then made worse with the declining rental income, and, the end of the 10-year interest-only period coming up with the mortgage moving to an unsustainable capital repayment. The retired couple could not see any way to make the increased repayments required, felt trapped and were quite rightly worried about their future.
After seeking some professional advice, they decided to appoint EU Property Solutions to act on their behalf. We successfully negotiated the voluntary surrender of the property and a complete write-off of their debt. Significant savings were achieved not only in respect of the negative equity shortfall but, also community fees and taxes levied on the property.
This was a huge relief for the couple and they were now able to enjoy their retirement stress free!
If you are struggling with overseas property debt don’t delay, contact EU Property Solutions today on 0044 330 124 1233 and we will be more than happy to assist you. Or visit www.eupropertysolutions.com to chat online with an advisor.
