OCTOBER DONE – SETTLEMENT EXAMPLES

By on October 30th, 2015

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That’s another month ticked off the 2015 calendar as we finish up October and head into the winter months. The sight of Christmas lights being put up is a shock to the system and the year has flown by here at EU Property Solutions. We hope to end on a real high with more excellent results for our clients.

This month has seen some excellent settlements particularly with Spanish lenders where our focus continues and our case load continues to increase in the country. We do not like to individually name the lenders we deal with but our advisors can give you the relevant information regarding your lender.

A couple of our best settlements are outlined below:

  1. A Couple from Northern Ireland purchased a property in a development in Vera, Costa Almeria. The property was not being rented out and arrears grew on the account. Through protracted negotiation the Bank accepted a settlement which involved the surrender of the property. We saved our client c€155,000 in this case and we are now working on the rest of their portfolio.

 

  1. A lady purchased a property during the property boom in Denia, just up the coast from Alicante. As with most properties purchased pre-2008 it was in significant negative equity and was proving to be incredibly problematic. Again a settlement involved disposal of the property and in this instance we achieved savings of c€180,000.

Both of these settlements are Full & Final and paperwork is sworn in a Spanish court confirming this.

As we reported recently we have developed four routes of dealing with problematic Spanish properties in Negative Equity.  This gives our clients a variety of options in solving their debt burden.

We look forward to continuing our good work to the end of 2015 and beyond. Should you or anyone you know have a European Property Debt issue that you need resolved please call EU Property Solutions now on +44 (0) 330 124 1230 to arrange a free initial consultation to suit you.

James Bell

 

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