EU PROPERTY SOLUTIONS HELP TO PROVIDE PROPERTY DEBT SOLUTIONS TO HUNDREDS OF CLIENTS ACROSS EUROPE EVERY YEAR.
Over the years EU Property Solutions have dealt with many cases which have resolved foreign property issues for victims of the economic collaspe. Since establishing as experts in this field EU Property Solutions have gained the reputation of “the go to people” for those with foreign property issues. Read how the lives of past and recent clients have been changed, becoming free of their foreign property debt.
CYPRUS SHORTFALL RESOLVED: SAVING OF €250,000
An elderly couple overcommitted on a property, as a result causing arrears and a total mortgage debt of €600,000. A sale was then arranged leaving a shortfall of €300,000 and fees to be settled of a minimal €50,000.
A SAVING OF €250,000
IRISH SHORTFALL RESOLVED: SAVING OF €98,000
A farmer owned a Buy to Let property located in a deprived area housing difficult and awkward tenants. The property was in Negative Equity and an overwhelming debt lead to the property being sold. The bank consented to the sale but a €112,000 shortfall arose. The case was then settled including fees at a total of €14,500.
A SAVING OF €98,000
PORTUGAL SHORTFALL RESOLVED: SAVING OF €60,000
The value of a development in the Algarve plummeted after what is known as the economic collapse, which resulted the property being in a negative equity. The property was then sold and a shortfall of €60,000 arose. We entered into negotiations and the bank agreed to clear all outstanding debts.
A SAVING OF €60,000
COSTA DEL SOL SHORTFALL RESOLVED: SAVING OF €170,000
A couple based in Northern Ireland bought a property in Costa del Sol at a value of €240,000. Given the dramatic decline in of the property market, the house was in Negative Equity totalling to €180,000. Furthermore, the development became run down and left unoccupied due to lack of interest.
The couple contacted our office thus leading us to enter direct dialogue with the Bank on their behalf. Through protracted negotiations the lender agreed to take possession of the property and the property was then sold allowing for the entire debt to be settled for €10,000.
A SAVING OF €170,000
ALBORAN HILLS SHORTFALL RESOLVED: A SAVING OF €77,000
A family from South England purchased a property in Alboran Hills when the property market was in its peak, paying over €200,000. The complex was built and finished and shortly after the property market collapsed. The property was rented, but failed to cover the mortgage repayments and thus entering into arrears on mortgage repayments including community fees and IBI taxes.
Our expert team entered into an agreement with the bank and the property was sold at an auction. A shortfall of €70,000 arose, but the bank then agreed to cancel all outstanding debt for €9,000. They also agreed to pay the family’s outstanding community fees and IBI taxes, totalling €16,000.
A SAVING OF €77,000
MURCIA SHORTFALL RESOLVED: A SAVING OF €54,000
A recent client purchased a property in the Murcia area due to a successful return on their business. Unfortunately, a decline in business and a failing property portfolio in Northern Ireland caused the gentleman to fall into difficulty and meaning the property was in significant arrears when we were notified.
Our expert team contacted the lender were an open market sale was arranged. The client was liable for the €60,000 in the mortgage shortfall. Through negotiations and excellent financial presentations, a Full & Final Settlement was agreed of €6,000.
A SAVING OF €54,000
CASE STUDIES SUCCESSES
A gentleman approached EU Property Solutions with a problematic Cypriot property. It was a typical mortgage sold in Cyprus during the boom and the currency was the ever problematic Swiss Francs. Swiss franc mortgages were sold based on the exchange rate at the time which included a variable interest rate. Major issues experienced by clients…
Two gentlemen approached EU Property Solutions with a problem property in the Guadalupe Hills development near La Duquesa. The property had a mortgage outstanding of €120,000 and a value of just €50,000. The main issue was the long-term tenant was leaving the property and given its value, the was becoming a significant headache. One gentleman…
A gentleman from the Republic of Ireland had a mortgage on a Spanish property for €286,000. The lender in question is a Spanish bank. The property was located in La Linea very close to Gibraltar on the Costa Del Sol. The lender in question we know to be notoriously difficult to deal with, and unfortunately…
An elderly couple purchased a property North of Valencia, with the intent to rent out the property, but also utilising it as a holiday home. 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…
A gentleman contacted us regarding a non-performing portfolio of overseas properties. Our client found himself in financial difficulty due to an unforeseen change in personal circumstances and required assistance. EU Property Solutions were appointed and successfully negotiated the voluntary surrender and debt write off with a core Portuguese Bank. The savings, in this case, have…
A couple from Northern Ireland purchased their dream home on the beautiful island of Cape Verde in 2008. The property was located in the Vila Verde complex on the Sal Island. Whilst initially the investment proved fruitful and proved to be an excellent holiday home, the couple soon found themselves in difficulty due to negative…
Portuguese Property Success Three gentlemen from the Republic of Ireland contacted EU Property Solutions regarding a troublesome property in Albufeira, Portugal. The property was in negative equity and was becoming a burden. This resulted in arrears of over €26,000 and negative equity in the region of €60,000. All three parties had significant assets and good…
EU Property Solutions On the Verge of Settling Two Large Cases for Deposits Lost to Unfinished Developments in Spain
EU Property Solutions On the Verge of Settling Two Large Cases for Deposits Lost to Unfinished Developments in Spain Things may be looking up for the property market in Spain, with sales and prices set to grow rapidly in 2018, but some people with property abroad are still in a less than desirable situation…
CaseStudy – Swiss Franc Mortgage on Paphos, Cyprus Property The Problem: Our client purchased a property in Paphos, Cyprus over 10 years ago on what seemed to be an attractive Swiss Franc mortgage product. Since then, with an opening balance of over CHR 300,000, the debt had risen by CHR 50,000 due to…
Debt Write-Off- Caseras Del Sol, Spain Case Study – Development – Caseras Del Sol, Spain Summary at a glance: Client – Mr L, UK Mortgage – 160,000 Euro Value -70,000 Euro Shortfall – 90,000 Euro Community Fees – 4,000 Euro IBI Taxes – 5,000 Euro The problem: Mr L Struggled to pay his mortgage on his property in Spain and owned…