Property Debt being pursued in the UK?



This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Mark Stücklin Mark Stücklin 2 years ago.

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  • #183268
    Profile photo of Anonymous

    Hi all,


    I know this has been an ongoing topic for the last few years but I am hoping someone has some new information.

    I have a property on the Costa Del Sol. I owe 163,000 euros on it on a Spanish mortgage and have been told I should be able to sell for 200,000 euros.

    When I bought I overstretched myself and also got a mortgage on a relatives house to cover the costs thinking it was a good investment.

    I am only in my 40’s but in failing health and my employer is going to medically retire me and I am unable to work and do not forsee me being able to work again.

    I have spoken to my Spanish bank who have said they will not accept the keys back to clear the debt but can re negotiate the mortgage terms which would reduce my monthly outgoing but as I will not have an income other then benefits this will not help.

    Can and will my Spanish bank come after mine and my relatives property (which my name was put on to get the mortgage) to clear any debt if they re-possess and can they force me to sell the property I and my husband live in or my relatives to clear the debt?

    Also does anyone know of a good solicitor that specialises in Spanish property law in the North East of England?

    Thank you


  • #183421
    Profile photo of Mark Stücklin
    Mark Stücklin

    Hi Donna,

    I’m so sorry to hear about your situation. It must be very stressful for you.

    I suggest you start by reading this article, and come back here if you still have questions. This is a recent article by a UK-based Spanish lawyer on exactly this question.

    Spanish Creditors Pursuing Debts Abroad

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