A couple appointed EU Property Solutions, their property on the La Manga Strip was causing them a headache. Declining rental income made the property an undesirable investment and property was in Negative Equity to the region of €15,000 but if you included sales costs the figure was closer to €30,000. Furthermore, given current market conditions in Spain are slow due to a vast supply of property available, Brexit and tighter lending constraints the chance of a quick sale was unlikely.
Eu Property Solutions negotiated the following outcome:
- The surrender of the property to the Bank in three months. No sales costs were incurred.
- A complete debt write-off
- Protection of the couple’s home asset in the United Kingdom
- Both credit files were unaffected which was essential for the gentleman’s job in this instance.
Through our efforts on the ground in Spain with the legal team and working with Lenders to develop rapport we are consistently achieving fantastic results in Spain. It is a real pleasure bringing an end of client’s property burdens.
If you wish to discuss your Spanish Property Debt issue then call EU Property Solutions today on