Massive monthly hike in Spanish mortgage repayments

By on April 24th, 2017

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We are experiencing a lot of enquires from Spanish property owners, who are facing the bleak prospect of, previously manageable repayments on an interest only basis rocketing when they move to repayment. This is an emerging trend and is affecting many families who own property in Spain and are currently paying an Interest free mortgage. The interest free mortgage is over an agreed term however these terms are coming to the end of their life and we are increasingly seeing owners in despair at their new repayment amounts.

One client seen their repayments go from £158 pcm to £1250 pcm, a 791{8ffce72bfd1f9b3f5d8b0ef2230e543e76a5ce407a245cd6391b5bca5679dfbb} increase.

This is not a sustainable increase for the majority of families to meet so this is a prime opportunity to consider the options available.

The vast majority of the enquiries involve what were originally Halifax and other, then UK lenders, now owned and managed by Sabadell.

With our experience, together with our teams in Belfast, Leeds and Spanish offices, we are advocating magnificent results for people struggling with the perfect storm of:

  1. The desire to sell/rid of the of the Spanish property.
  2. c791{8ffce72bfd1f9b3f5d8b0ef2230e543e76a5ce407a245cd6391b5bca5679dfbb} increase in repayments.
  3. Negative equity i.e. value far less than mortgage.
  4. Continually excessive management charges
  5. Urbanisation/community issues

EU Property Solutions can review your situation in its entirety to provide you with the options that are available based on your situation.

 

Speak to the experts today  +44 (0) 330 124 1230

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