I am extremely proud to report January has been a fantastic month for EU Property Solutions. The team has continued their efforts from 2015 to achieve excellent results for our clients, this despite many Spanish lenders not reopening their departments following Christmas until well into the second week of the month.
- A couple from North of England purchased their ‘Dream’ holiday home in the Costa del Sol at the peak of the market for just over €240,000. Following the well document market decline the value of the property fell dramatically to just €50,000. The couple approached EU Property Solutions with their dilemma and the team firstly achieved a consensual sale with the lender for €60,000 and through protracted negotiations the outstanding balance was cancelled.
- A couple from Scotland bought a property in the Murcia Area in 2007 and even in 2016 the outstanding mortgage of around c€240,000. The property was recently valued at €140,000. The couple filed for divorce and the property began to cause a headache with high mortgage payments and the burden of negative equity. Accordingly EU Property Solutions where appointed and we agreed a sale of the property at market value and the residual shortfall balance was cancelled and the couple no longer liable.
- Two close friends bought two properties on the Costa del Sol and now find themselves in severe Negative Equity. The financial issues caused issues between them and they started falling behind on their mortgage repayments. They approached EU Property Solutions and we negotiated to sell one of the properties and cancel the outstanding shortfall and the second property we agreed with the Bank to take the property back in their possession and cancel the remaining debt. Overall savings for our Clients were in an excess of c€280,000.
February too has started promisingly and we hope to report some more fantastic results in the coming weeks.#
Should you or anyone you know have a troublesome property in Europe which is causing you issues then please call EU Property Solutions today on +44 (0) 330 124 1230 to arrange your free initial consultation at one of three of our office bases or via Skype or conference call with our advisers. We look forward to hearing from you.