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Defaulting on a Spanish mortgage?

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  • mr_hat_2
    mr_hat_2 Posts: 6 Forumite
    Frightening!!!:( :(:(
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    mr_hat wrote: »
    Frightening!!!:( :(:(

    The Spanish Bank will probably sell the debt to a UK based debt collection company who will chase you for it for the next 12 years.
  • mr_hat_2
    mr_hat_2 Posts: 6 Forumite
    does that mean bailiffs?:confused:
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    Does the spanish bank actually have your uk details? Maybe you could do a runner - like a thief in the night!
  • mr_hat_2
    mr_hat_2 Posts: 6 Forumite
    Unfortunately yes._pale_
  • m00m00
    m00m00 Posts: 1,755 Forumite
    what did people expect ?

    you run up massive debts in another country in a speculative investment, of course they are going to pursue it.

    whatever happened to the notion of moral risk.
    It's a health benefit ...
  • FraudBuster
    FraudBuster Posts: 931 Forumite
    Maybe you could do a runner


    Have a read about GAIN.


    http://forums.moneysavingexpert.com/showthread.html?p=7651079
  • sekib2003
    sekib2003 Posts: 4 Newbie
    well this IS an interesting situation, my girlfriend and I are looking to BUY in Spain (specifically Madrid or Barcelona) and we are stuggling to get a mortgage. U can see where this is going. so now I'm off to taut "brits in spain" forums looking for someone in a desperate situation (which btw I have no sympathy for) to do a deal with.:beer:
  • losgiganteskid
    losgiganteskid Posts: 965 Forumite
    Part of the Furniture 500 Posts
    sekib2003 wrote: »
    well this IS an interesting situation, my girlfriend and I are looking to BUY in Spain (specifically Madrid or Barcelona) and we are stuggling to get a mortgage. U can see where this is going. so now I'm off to taut "brits in spain" forums looking for someone in a desperate situation (which btw I have no sympathy for) to do a deal with.:beer:

    Well you will need a more up to date thread than this one, which started in July 2008 !!
  • dopester
    dopester Posts: 4,890 Forumite
    paul_racky wrote: »
    Does anyone have any experience of repossession in Spain or any knowledge of Spanish property law as we are quite worried as to whether our english home is at risk. PLEASE HELP!!!

    Re the above, and other thread topics on the subject... thought this article of today (28th November 2010) might be of interest.
    Costa nightmare could cost us our UK home.

    QsTGF4dgzB8J

    Spanish bank to seize cottage after couple miss payments on holiday flat.

    DAILY MAIL ARTICLE LINK
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