Defaulting on a Spanish mortgage?

geoffky

and they ask for our sympathy...sorry none here, pay up time.

Jimx26

geoffky wrote: »

and they ask for our sympathy...sorry none here, pay up time.

I agree, there should be no easy way out, you make your bed, lie in it!

theartfullodger

I am pleased to advise readers that debts in one EU country can be pursued in other EU countries, and that debtors aren't able to run away and make more mistakes at the expense of decent hard-working bank shareholders. No, not tongue in-cheek, not joking.

Cheers!

Artful

N79

theartfullodger wrote: »

I am pleased to advise readers that debts in one EU country can be pursued in other EU countries, and that debtors aren't able to run away and make more mistakes at the expense of decent hard-working bank shareholders. No, not tongue in-cheek, not joking.

Cheers!

Artful

Quite. This is no different to an amateur BTL disaster threatening someones residential home.

For those reading, English courts will happily enforce judgments from other EU countries (and EU courts will enforce English judgments). This process is reasonably expensive (because of the need for overseas lawyers and often the costs of translation of large numbers of court document) so is not used for "small" amounts but with mortgages at stake you can be sure that the banks will pursue the debts.

Blueshark911

In order to purchase the property you would have had to have an NIE this is linked to your Spanish Bank Account and UK ( or other ) Passport. This would make tracing you very easy. Not only that I'm sure that a marker will be placed on your passport should you enter Spain this would come to light.

This would also relate to any Spanish Tax's you owe including Car Tax.

My advice would be to seek legal advice rather than put your head in the sand.

Good Luck

PasturesNew

losgiganteskid wrote: »

Well you will need a more up to date thread than this one, which started in July 2008 !!

They'll be even cheaper now

There was a piece in the weekend papers about some couple who handed the keys back ... and the bank have now put a charge on their UK family home.

http://www.dailymail.co.uk/news/article-1333710/Spanish-bank-bids-seize-couples-UK-home-miss-payments-holiday-flat.html

Edit: Oh dopester linked to it above. Oh well... twice won't hurt

pararct

The fact Santander bought out (or were asked nicely to take over) some of the UK 's High Street lenders (Abbey National, Bradford and Bingley and Alliance and Leicester) means they probably have all the information the need on a significant number of UK Spanish property owners.