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 incomes in the Republic of Ireland and it was essential that these were protected. The mortgage account was transferred to a new lender who has been taking over numerous core Portuguese lenders, and, EU Property Solutions successfully negotiated for the property to be voluntarily surrendered to the Bank. Eventually, the shortfall balance was written off. This resulted in significant savings as well as asset and income protection for our clients, an excellent result.
EU Property Solutions continue to assist borrowers with Portuguese properties in Negative Equity and if you wish to discuss any problematic Portuguese property debt please call us today on +44 (0) 330 124 1230.