Unfortunately, a lot of people who previously took out mortgages to buy property in Spain are now experiencing problems repaying the mortgage. This could be because they overreached themselves when they took out the mortgage. It could be because their circumstances have changed – for example, they may have lost their job, or It might be that they were relying on rental income to help pay for the mortgage which has not materialised.
Whatever the circumstances thousands of people now find that they are struggling to pay their mortgages on a month-to-month basis and as a result have found themselves in conflict with their Bank in Spain or a third-party entity who has acquired the debt from the Bank in Spain.
As a specialist and leading firm of solicitors in this area, we are acutely aware of the significant worry and anxiety of being contacted by a Spanish Bank or a UK firm of solicitors acting for the Bank in Spain, many years after believing the issue had gone away.
It’s important therefore when looking for a firm to represent your interests and to negotiate with a Spanish Bank on your behalf, that you look to engage a specialist, experienced and regulated firm of Solicitors. Here at Judicare we have decades of combined experience in dealing with Banks in foreign jurisdictions, and as a specialist firm of Solicitors, we have been able to negotiate over €35 million of foreign Bank debt being successfully written off for our clients.
As a leading law firm in this specialised area, our significant experience gives our clients the comfort and confidence we can finally allow them to be free of their Spanish Bank debts and any threats to their future.
If you have received a legal notice from your Spanish Bank or have concerns about a Spanish property mortgage debt or would simply like more information on our fixed fee approach a member of our team will be happy to take your call on a confidential basis at 01438 840258 or via email to admin@judicaregroup.com
We can also arrange a free no obligation teleconference via Zoom/Skype.
Getting in touch will allow us to understand your individual circumstances and discuss with you your concerns and objectives. Working with you we can then decide upon the correct strategy to approach and find the solution which is right for you.
We provide tailored advice if you’re facing problems with a foreign mortgage arrears or if you are being pursued for a foreign mortgage debt in the UK.
Below we address some of the most frequently asked questions from clients to these issues in Spain.
[faq]
Why choose Judicare for advice about Spanish mortgage problems?
If you’re facing problems with your mortgage abroad, our specialist legal team can help you explore your options, including negotiating full and final settlements or variations to the mortgage with your Spanish Bank, taking steps to sell or rent out the property, and considering whether taking legal action (such as a mis selling or professional negligence claim) is viable.
Below are just some of the reasons our clients instruct us:
- Our legal teams have decades of combined experience of handling foreign mortgage issues in Spain for UK clients.
- We are regulated by the Solicitors Regulation Authority (SRA) and as such we carry professional Indemnity Insurance giving you vital protections and redress in the unlikely scenario something goes wrong.
- Using any unregulated firms providing foreign property debt solutions across the EU can be risky, as there are no safeguards or any regulatory redress for clients if something goes wrong.
- We’re members of the Association of International Property Professionals and devote ourselves to promoting principles of good practice within the international property industry.
- We have successfully negotiated over £35m of foreign Bank debt being written off for our clients.
If you have been served with a legal demand Notice related to your mortgage in Spain, or have fears you may soon receive one, or would simply like more information on our fixed fee approach a member of our team will be happy to take your call on a confidential basis at 01438 840258 or via email to admin@judicaregroup.com
We can also arrange a free no obligation teleconference via Zoom/Skype.
Getting in touch will allow us to understand your individual circumstances and discuss with you your concerns and objectives. Working with you we can then decide upon the correct strategy to approach and find the solution which is right for you.
Useful Spanish terms
Abogado | Lawyer or solicitor |
Agente de propiedad inmobiliario | Estate Agent |
Apartamento / piso | Apartment |
Asesor fiscal | Tax consultant |
Ayuntamiento | Town Hall |
Banco | Bank |
Clausula suelo | Floor Clause |
Clausula techo | Ceiling Clause |
Comunidad de Propietarios | Community of owners / Residents Association |
Compra / compraventa | Purchase / Buying and selling |
Dación en Pago | Handing the keys back to the bank |
Deuda | Debt |
Dirección | Address |
Embargo | Embargo / Charge |
Escritura | Title Deeds |
Garantía | Guarantee |
Gastos | Costs |
Hipoteca | Mortgage |
IBI (Impuesto Sobre Bienes Inmuebles) | Council Tax |
Impuesto | Tax |
Inmobiliaria | Estate Agency |
Interés | Interest |
IVA (Impuesto Valor Añadido) | VAT (Value Added Tax) |
Llave | Key |
Ley | Law |
Licencia | Licence |
Mensual | Monthly |
Muebles | Furniture |
Negociación | Negotiation |
Negociar | Negotiate |
NIE (Numero de Identificación de Extranjeros) | Foreigner’s Identification Number |
Nota Simple | Land Registry Search |
Notario | Notary Public |
Permiso de obra | Planning permission |
Pleito | Court case |
Poder | Power of Attorney |
Póliza de seguros | Insurance policy |
Promotor | Developer |
Propiedad | Property |
Registro de propiedad | Land Registry |
Renta | Income |
Residente | Resident |
Seguros(s) | Insurance |
Sociedad | Company |
Sucursal | Branch (Bank) |
Subasta | Auction |
Valor Catastral | Official value of the property |