Pain in Spain

cclarke12

ILW wrote: »

This may be a daft question, but why do you think you should not repay the loan?

Because we can't afford it and we are getting into deeper debt in UK trying to service this loan. We have tried to negotiate with the bank to reach any kind of settlement/deal but they won't respond to communication or requests for help. The Spanish government has recognised the corruption in the system that was taking place (particularly massive overvaluing of properties) before the property crash and banks have been advised to review mortgage terms etc. where people are struggling with.

I am not seeking opinion or approval of our situation and proposed actions to resolve it, simply providing an update to the half dozen or so people in same situation that have PM'd me in recent months to ask how things were progressing.

IggysMum

cclarke12 wrote: »

Just thought I would do a quick update as several people sent me PMs over the last months to enquire. We still haven't reached any resolution with CAM bank (now Banco Sabadell). They have used delaying tactics saying they couldn't do anything while bank merger was taking place. Despite months of chasing by the lawyer and by us they now refuse to answer emails or respond to calls (they person the lawyer needs to be speak to is never available). They clearly have view that if they ignore us we'll keep paying the mortgage and go away.

The lawyer from RDT called on Friday and suggested that at this juncture the only course of action that will get reaction is to default on the mortgage. We've sent an email to bank again this week to say we have tried everything we can to reach a resolution with them and that we have reached point we are unable to service the mortgage anymore.

So we haven't got resolution yet, but RDT have been responsive and in communication with us. The Lawyer says that our case has been a tricky one simply because the bank refuses to engage in any communication at all. They still maintain they are having success in such cases elsewhere, including with other branches of our bank.

I will report back on progress when we have any!

Do you have any update re: RDT? They have started to ignore my calls & e-mails and like you - Lloyds who our mortgage is with, is being taken over by Banco Sabadell so I don't know if this is a good or bad thing for us.

I'm so disappointed that RDT have started to go cold on us as I previously thought they were really going to help. I suppose if something seems to good to be true then it probably is!

nellatram

Hi

we are just negotiating with RDT to hand back keys on our property in Spain.

Has anyone been successful with them yet. They claim that they have been successful with all clients since 2011.

marbton

I am also considering using them, did u have any success?

Charley_custard

Marbtron and nellatram what did you do? I have had a negative experience with RDT. You should consider using a firm with a uk presence which is regulated by the law society.

peaceplease

Hi

I am interested to know if any of the earlier posters have now had success or anyone new is using RDT for a Bankia Dacion in Pago? We signed up because someone we know has had their mortgage discharged successfully. We met them in Alicante and they seemed professional. But they have now just told us we need to put our property up for sale before they will consider a dacion in pago and it is valued at only half the remaining mortgage so we are nervous in case it sells then we are in debt for the rest with not even a property to enjoy, but having paid our money to RDT and stopped paying the mortgage we don't know what to do now. We are angry that the bank overvalued the property in order for the developer to sell us the property and now are very trapped. Do we continue with RDT? What will happen now we are not paying the mortgage?

peaceplease

marbton wrote: »

I am also considering using them, did u have any success?

did you sign up? how is it?

peaceplease

IggysMum wrote: »

Do you have any update re: RDT? They have started to ignore my calls & e-mails and like you - Lloyds who our mortgage is with, is being taken over by Banco Sabadell so I don't know if this is a good or bad thing for us.

I'm so disappointed that RDT have started to go cold on us as I previously thought they were really going to help. I suppose if something seems to good to be true then it probably is!

I heard that Lloyds won't talk to RDT and they cannot get any progress, whereas they have a process with Bankia who will work with them.

peaceplease

looking at the earlier posts suggesting banks will come after us for any shortfall, there was a Navarra case of Dacion in pago i read about in 2011 whereby the judge basically said to the bank if there was a shortfall then you must have overvalued therefore the customer does not have to pay it back..this is what RDT are working from I believe but they don't try to go to court they seem to like to develop processes with each bank to come to an arrangement.

nettylb

we are looking at using RDT has anyone had any joy against Cajamurcia bank?