- Region
- Águilas
- Alhama de Murcia
- Jumilla
- Lorca
- Los Alcázares
- Mazarrón
- San Javier
-
ALL AREAS & TOWNS
- AREAS
- SOUTH WEST
- MAR MENOR
- MURCIA CITY & CENTRAL
- NORTH & NORTH WEST
- TOWNS
- Abanilla
- Abarán
- Aguilas
- Alamillo
- Alcantarilla
- Aledo
- Alhama de Murcia
- Archena
- Balsicas
- Blanca
- Bolnuevo
- Bullas
- Cañadas del Romero
- Cabo de Palos
- Calasparra
- Camping Bolnuevo
- Campo De Ricote
- Camposol
- Canada De La Lena
- Caravaca de la Cruz
- Cartagena
- Cehegin
- Ceuti
- Cieza
- Condado de Alhama
- Corvera
- Costa Cálida
- Cuevas De Almanzora
- Cuevas de Reyllo
- El Carmoli
- El Mojon
- El Molino (Puerto Lumbreras)
- El Pareton / Cantareros
- El Raso
- El Valle Golf Resort
- Fortuna
- Fuente Alamo
- Hacienda del Alamo Golf Resort
- Hacienda Riquelme Golf Resort
- Isla Plana
- Islas Menores & Mar de Cristal
- Jumilla
- La Azohia
- La Charca
- La Manga Club
- La Manga del Mar Menor
- La Pinilla
- La Puebla
- La Torre
- La Torre Golf Resort
- La Unión
- Las Palas
- Las Ramblas
- Las Ramblas Golf
- Las Torres de Cotillas
- Leiva
- Librilla
- Lo Pagan
- Lo Santiago
- Lorca
- Lorquí
- Los Alcázares
- Los Balcones
- Los Belones
- Los Canovas
- Los Nietos
- Los Perez (Tallante)
- Los Urrutias
- Los Ventorrillos
- Mar De Cristal
- Mar Menor
- Mar Menor Golf Resort
- Mazarrón
- Mazarrón Country Club
- Molina de Segura
- Moratalla
- Mula
- Murcia City
- Murcia Property
- Pareton
- Peraleja Golf Resort
- Perin
- Pilar de la Horadada
- Pinar de Campoverde
- Pinoso
- Playa Honda
- Playa Honda / Playa Paraíso
- Pliego
- Portmán
- Pozo Estrecho
- Puerto de Mazarrón
- Puerto Lumbreras
- Puntas De Calnegre
- Region of Murcia
- Ricote
- Roda
- Roldan
- Roldan and Lo Ferro
- San Javier
- San Pedro del Pinatar
- Santiago de la Ribera
- Sierra Espuña
- Sucina
- Tallante
- Terrazas de la Torre Golf Resort
- Torre Pacheco
- Totana
- What's On Weekly Bulletin
- Yecla
Foreign Mortgage? Can they chase me in the UK? Are my assets under threat?
In the past few weeks we have seen a large increase in enquiries especially from people who have mortgages particularly in Cyprus and Spain. Many are concerned with some loan sales now being undertaken by Banks across Europe, as the Banks at last look to clear all problematic debt and tidy up their ‘books.’
Such problematic debt cases include:
Those in arrears, be they slightly or massively in arrears,
Unaffordable repayments brought about by mortgages going from the interest only form to repayment,
Maintenance costs/ management charges, and Continuing negative equity.
Many people and their advisors are deluded if the think merely ignoring a foreign mortgage debt problem will see it go away. Yes – a lot of time has lapsed since the 2009 crash but like elephants, these Banks do not forget! Banks are still relatively civil in most instances as long as there is engagement in some form, but across the board – their patience is wearing thin. They are employing the following approaches, to name but a few:
Applying for European Enforcement Orders, Appointing strong legal firms to enforce in the UK, Making their own enquiries as the people’s worth/assets, and Most worryingly for our clients, the sale of loans to Vulture Funds…the name should be a clue as to how they conduct themselves…not so civil!
Foreign Banks in the main are still approachable. As ever it’s a case of the right type of engagement, usually undertaken by a trusted party.
We would say this any way, but you need someone like EU Property Solutions because:
You need someone trusted by the Banks. They appreciate straight talking and know we perform on cases. We only act for the client, but know the different parameters that each and every Bank works within, Sometimes Banks are not fully truthful. EU Property Solutions cut through and call out any discrepancies from any financial institution, and Even though we are looking to alleviate the problem here, Banks and their advisors need to be driven.
Some people believe that this ability to chase foreign debt in the UK, as provided for under Cross Border Claims EC 44/2001, will diminish with Brexit. We definitely do not see this as the case because the EU will still be our main trading partner and such provisions ensure safer trade conditions for all.
Under existing EU law anyone, including Bank’s and any other foreign trading entity can secure a Judgement in their country and then bring this to the UK and apply for a European Enforcement Order.
This Order when granted, and they usually are, enables the creditor to pursue clients here in the UK, which can in turn see UK assets such as homes, businesses and in some instances pensions, come under threat. The legal costs in such recovery actions can be horrific and payable by the debtor as well.
As ever we use the mantra of #KnowtheWorstAchievetheBest.
Definitive advice is imperative. Relying on uninformed opinions is no good to those facing this sort of situation. Relying on ‘bar room’ legal opinions is dangerous – especially when whilst these opinions that may suit your arguments, are wrong.
In conclusion if you face foreign mortgage problems, get the best advice you can. If it goes wrong then you will definitely be pursued at some time. Ignoring the issues is not sensible – to say the least.
Cartagena
El Carmoli
Islas Menores and Mar de Cristal
La Manga Club
La Manga del Mar Menor
La Puebla
La Torre Golf Resort
La Union
Terrazas de la Torre Golf Resort
Los Alcazares
Los Belones
Los Nietos
Los Urrutias
Mar Menor Golf Resort
Pilar de la Horadada
Playa Honda / Playa Paraiso
Portman
Roldan and Lo Ferro
San Javier
San Pedro del Pinatar
Torre Pacheco
Alhama de Murcia
Aguilas
Bolnuevo
Condado de Alhama
Fuente Alamo
Hacienda del Alamo Golf Resort
Lorca
Mazarron
Puerto de Mazarron
Puerto Lumbreras
Sierra Espuna
Totana
Abanilla
Alcantarilla
Archena
Blanca
Corvera
El Valle Golf Resort
Hacienda Riquelme Golf Resort
Lorqui
Molina de Segura
Murcia City
Peraleja Golf Resort
Ricote
Sucina
Condado de Alhama
El Valle Golf Resort
Hacienda del Alamo Golf Resort
Hacienda Riquelme Golf Resort
Islas Menores and Mar de Cristal
La Manga Club
La Torre Golf Resort
Terrazas de la Torre Golf Resort
Mar Menor Golf Resort
Mazarron Country Club
Peraleja Golf Resort

AFS WindfoilsCamposol floods Gota friaCartagena SpainCoronavirusCorvera Airport MurciaCosta Calida tourist infoMedical information MurciaMurcia Gota Fria 2019Murcia propertyParamount Theme Park MurciaWeekly Bulletin