DEBT CHASED IN UK

PROPERTY DEBT SHORTFALLS- CAN THEY BE CHASED IN A DIFFERENT COUNTRY?

European Banks have the ability to pursue overseas borrowers for outstanding debts. It is as simple as that.

We read some advice which seems to suggest you are safe in your country of origin. This is incorrect and ignoring the issue will likely be putting any assets you have at risk.

European Banks are beginning to become more pro-active in the debt collection. The dust has settled on property market and general economic decline on the continent and Banks have been given the ultimatum to tidy up their loan books. Some have even been sold to Private Equity funds who are looking to make a return for their investors.

This will become a more prevalent problem and we urge overseas borrowers not to ignore their liabilities abroad. If you are being pursued in the UK or Ireland for an overseas property please contact us.

Request a Call Back

Please fill in your details to request a call back from our expert team

Request a Callback

LET US HELP YOU TO MOVE ON WITH YOUR LIFE...

EU Property Solutions always offer any potential client a free initial consultation. This can be done face-to-face in one of our three office locations, via Skype, a conference call or via email. We typically ask for standard financial information when meeting as this allows us to give you the best advice tailored to your circumstances. We are not here to judge, but to assist those who find themselves in difficulty and provide solutions to navigate to better positions. Our fees are always made open and transparent from the outset and there are no hidden fees or costs.

Our team has a fantastic attitude and will take openly and frankly with all our clients with the sole aim of achieving the best possible outcome. Please contact us at EU Property Solutions today and we look forward to meeting you soon.

1persue-1

At EU Property Solutions we find it incredible so many British and Irish borrowers feel they can merely “hand back the keys” and walk away from the property thinking they are somehow immune to any consequences once back home.

Many borrowers simply post their keys through a Bank or representing solicitors’ letter box and make a run for it. It is actually something out of the movies! These debtors have the impression that creditors’ cannot pursue their home country assets and nor that the Banks have the time or resources to pursue overseas. This may be true in respect to small balances but in truth Banks are stepping up their overseas debt collection and debtors with this mind-set could be left to rue this misjudgement.

In order to promote free-trade commerce throughout Europe legal cooperation is essential and thus legal mechanisms are in place to facilitate overseas perusal. This makes it nigh on impossible for a UK or Irish High Court to raise its own motion on grounds for non-enforcement or review.

Anyone who signs a mortgage deed in Spain, including guarantors, is personally liable for the loan. Any legal action with likely be notified to the Spanish Address on which the mortgage has been placed, and although logical, many overseas borrowers in Ireland and the UK will be unaware of any proceedings against them until the process is gathering a pace.

In terms of debt perusal in the UK or Ireland lenders can look to recover your home assets and many lenders will appoint UK Debt Collection agents and this could lead to an effect on your home country credit report. The Spanish lender can look to put a charge on your property even if it already has an existing mortgage and can even enforce an Attachment of Earnings Order. Spanish lenders to seem to be developing a greater appetite for overseas debt perusal given the magnitude of balances and Banking system overhaul.

EU Property Solutions hear too often about people handing back their property keys and wiping their hands of Spanish lenders only to realise down the line in the future they are still liable and are being actively pursued, and most importantly discover THEIR OWN HOME IS AT RISK.

It is imperative that if you have surrendered your property you enter dialogue with the relevant lender to minimise the exposure and risk of your home assets. EU Property Solutions can assist anyone in this situation so please contact the team today.

DEBT CHASED SUCCESSES

Spanish economy on the up, but what about the victims of the bust?
July 18, 2018 | 0 Comments

With recent news reports claiming that the Spanish economy is expanding and rebalancing since the 2008 banking crisis the question of, what happened to those affected, comes to the fore. According to the Financial Times, the boom that preceded the bust ‘coincided with the arrival of millions of migrants from Latin America, Eastern Europe and…

BECOME AN INTRODUCER
July 9, 2018 | 0 Comments

At EU Property Solutions we understand how important it is to associate yourself with the right individuals in business. This is why we continually refer to our growing network of introducers, particularly those in Spain, Cyprus, and Portugal, as well as those long established in the UK. Typically, our best pre-qualified clients come directly from introducers.…

Is your foreign property worth it?
July 3, 2018 | 0 Comments

We are fast approaching peak holiday season and with School Summer Holidays drawing near, overseas property investors can expect to cash in on excellent rentals during this period. But are you ready for when the holiday season ends? EU Property Solutions liaise with many borrowers who have lucrative summer income from their overseas property investment…

Success with problematic Cypriot property and Swiss Franc Mortgage.
June 26, 2018 | 0 Comments

We have negotiated another fantastic settlement for a client with a property in Cyprus and a Swiss Franc mortgage. We have found through experience that Cypriot property can be somewhat problematic to say the least due to issues with ownership and title deeds. According to the Cyprus property action group, “The bulk of the problems…

Can overseas property debt affect my chances of buying a property back home?
June 21, 2018 | 0 Comments

A frequently asked question we get at EU Property Solutions is whether an overseas property debt issue can affect your ability to buy property in the United Kingdom or your home country. There are circumstances in which it might. The first thing to bear in mind is that it’s always a good idea to cooperate…

Spanish Negative Equity Solution – The Process
June 5, 2018 | 0 Comments

From our experience every case regarding Spanish negative equity is different. Everyone’s circumstances differ, and no case is identical in what we do. Nonetheless, there is a process EU Property Solutions follow to ensure we can deliver the best service and most importantly best result for our clients. Below is EU Property Solutions step by…

OUR MANAGING DIRECTOR, JAMES BELL
May 16, 2018 | 0 Comments

James is Managing Director at EU Property Solutions. He is based in the Leeds City Centre office. James has a variety of roles within the business, but his primary role is to work with new leads to discuss their cases, their options and advise how EU Property Solutions can assist. He travels regularly to meet…

How Halifax became Banco Sabadell
April 12, 2018 | 0 Comments

BANCO SABADELL & HALIFAX MORTGAGES Banco Halifax Hispana was incorporated in 1993 to serve the needs of Expat buyers in the Southern Costa’s in Spain. Many investors took out mortgages with Halifax, given they were at trusted UK High Street lender giving them confidence in their overseas property purchase and finance they obtained. Unfortunately, many borrowers…

Why work with us?
April 4, 2018 | 0 Comments

Do you want to sell your foreign property but feel trapped by Negative Equity? Are you struggling to pay the mortgage on your European home? Did you purchase a holiday home in an unfinished or abandoned development? Are you being chased for debt from Europe that you cannot afford? EU Property Solutions are experts in…

Honesty and Transparency – The Key to Success
March 29, 2018 | 0 Comments

From the outset when speaking to potential clients we ask for honesty and transparency regarding the case and your circumstances. EU Property Solutions have harnessed years of experience working in property debt negotiations to understand what will ultimately make up a successful case. It is essential that EU Property Solutions have your full financial picture…