Has anyone ever walked away on their mortage of a villa in spain (8)
I should think that, as we are part of the EU, you will not get away with upping and leaving - they will find you!!!!!!
Don't do it! Face up to the reality and get things sorted out. You could chat with the CAB here and find out what options are available to you. Good luck! Denise xx
Don't do it! Face up to the reality and get things sorted out. You could chat with the CAB here and find out what options are available to you. Good luck! Denise xx
Thanks Denise, i am trying alternative methods ie: Estate agents ..rental etc but if push comes to shove the line has to be drawn at some point and i just want to pick peoples brains for their experience in this matter
Im not sure the banks have ant jurastiction from one member state to another
Im not sure the banks have ant jurastiction from one member state to another
Have you tried writing to some of the guys on this site that now live in Spain having moved the the UK? Might be worth a try honey. More good luck! Denise xx
If you leave the house and don´t pay the mortgage it could take up to 2 years for the bank to sieze the property over here. We have a property that we are still trying to sell and have had it for 18months and the bank has not repossessed it yet!!
Have passed everything onto my boss, we are trying our best to get round to putting it on....but so busy at the moment.
Try long term rental......there are a lot of people looking at the moment, not sure how many there are in your area though.
Have passed everything onto my boss, we are trying our best to get round to putting it on....but so busy at the moment.
Try long term rental......there are a lot of people looking at the moment, not sure how many there are in your area though.
Thanks Shell , Im keeping every option open 
Yes, they can,your credit rating follows you through out Europe
Have you considered renting it out? I have one in Spain, France and in Portugal and rent them all out. The peak season covers the costs for the rest of the year. During the low season, they are rented out for 3 months at a time, And if I decide that I want to use any of them I block those weeks for me..give it a shot, better than loosing everything
Have you considered renting it out? I have one in Spain, France and in Portugal and rent them all out. The peak season covers the costs for the rest of the year. During the low season, they are rented out for 3 months at a time, And if I decide that I want to use any of them I block those weeks for me..give it a shot, better than loosing everything
Thanks Blossoms ...
A friend said why dont i just sell the house to someone for £10-£15 grand and let them take the mortage over , so im gonna look into that and cut my losses if it doesnt sell by new years....someones gonna get a real bargain , now where can i start advertising something like that
A friend said why dont i just sell the house to someone for £10-£15 grand and let them take the mortage over , so im gonna look into that and cut my losses if it doesnt sell by new years....someones gonna get a real bargain , now where can i start advertising something like that
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Created: Nov 2007
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My story is ive pumped in nearly £50k into a villa...have a mortage of approx £120k and due to circumstances cannot keep going with the repayments......What happens if i just walk away taking the furniture and cut my losses .....Will the banks be able to haunt me since i dont live in spain??