EU Property Solutions assist people who are in significant mortgage arrears and have missed community fee payments on a daily basis.
Many borrowers who purchased properties in Spain were not aware of the associated costs in the long term.
Community Fees and IBI taxes are fees over and above mortgage costs in Spain. These additional fees have resulted in significant stress for thousands of people in pursuit of their place in the sun, even more so since the property crash in 2008.
Community fees are owed to the Community Presidents in Spain for the up keep of communal areas. These Presidents are the authority on ensuring the community in which you have purchased is visibly up to scratch e.g. maintenance of common areas, cleaning of swimming pool and general grounds keeping. It is important for those who have purchased within a community to meet these fees.
What happens if I fall behind?
If your payments fall behind Presidents can proceed with legal action. Presidents have the authority to instruct debt collection agencies in UK / Ireland to chase owed debt. These debt collection agencies can seek judgements and bankruptcy, enforce an attachment of earnings order or put a charge on your home.
They can legally withdraw outstanding debts directly from salaries or force you to sell your UK / Ireland home. As with community fees, if you are in mortgage arrears you can be pursued back in home. If you ignore these debts you are putting your home and earnings at risk.
For many struggling with mortgage payments and community fees, the reality is they are sitting in negative equity and feel like there is no way out. EU Property Solutions can help.
Do Not Ignore This: There Are Always Options Available!
We can work with you and your lender to ensure an amicable solution is achieved. In many cases this involves the disposal of the negative asset and negotiation on the shortfall. EU Property Solutions’ expertise in negotiations have saved our clients millions of Euros.
If you find yourself in a situation of mounting Mortgage arrears and outstanding community fees, then please call EU Property Solutions today on 0330 124 1230.
We offer a free initial consultation and work to plan a strategy to rid you of your European Property Debt headache.