Transferring Dutch debt to Scotland

id20004

Hi there,

I wonder if anyone can help with this one - My partner is from The Netherlands and owns a house there. She has been in Scotland for 3 years and, due to her tenants moving out over there she has a mounting debt (€15,000) and now they are moving to seize her home. She has just graduated and finally found employment, albeit a temp 3 month contract, so should be able to afford some repayments if only the debt was able to be transferred here. There doesn't appear to be any Dutch government agencies that assist with debt and her chances of getting a loan here with a temp contract are slim.

Can anyone think of a solution?

Much appreciated!

opinions4u

Sell the house.

Tixy

Any reason she cannot sell the property in the NL?

edit - beaten to it

27col

Why does she not just get in some new tenants.

id20004

It's been on the market for over a year. The problems arose when her tenants moved out and it took about 10 months to get some more people in. There are tenants in now but the debt has mounted when it was empty.

Tixy

The debt is a mortgage? Is the 15k the amount of the arrears?
How much could she afford to pay towards the arrears on top of the normal mortgage payment? has she made a formal offer to them and will they not accept this?

If the lender does seize the home does it have any equity in it? or is it in negative equity?
What are the implications if it is seized and she is in negative equity in NL? In the UK you'd then usually be able to negotiate to repay off the mortgage shortfall over a period of time at a rate you can afford (or some people do end up going bankrupt if they are unable to do so). Has she looked in to what would happen there?

id20004

Thanks for the replies folks. The debt is a mix of various costs that have built up since she moved that come with owning a property. The tenants rent doesn't cover everything. Yes the flat is in negative equity.

There appears to no bargaining with the collectors there. They want their money immediately.

Her job here is just a temp contract so no chance of a loan.

id20004

Yeah she has looked into what would happen and she'll basically be paying it back for the rest of her days.