Spanish mortgage arrears increase in June

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This topic contains 2 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 8 years, 3 months ago.

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  • #54254
    Profile photo of rt21
    rt21
    Participant

    Seems the economic downturn and credit crunch in Spain is beginning to bite. Just like the UK I suppose

    see link below

    http://www.bloomberg.com/apps/news?pid=20601206&sid=aUwJmHMs.VHg&refer=realestate

    Richard

  • #85779
    Profile photo of mike
    mike
    Participant

    @rt21 wrote:

    Seems the economic downturn and credit crunch in Spain is beginning to bite. Just like the UK I suppose

    see link below

    http://www.bloomberg.com/apps/news?pid=20601206&sid=aUwJmHMs.VHg&refer=realestate

    Richard

    There must be a significant number of these loans in the UK and it will be interesting to see how they go after people. I imagine the Spanish government will ask for restraint when chasing Spanish citizens for money but they can’t really ask the same for foreigners. Would they care?

    On the other hand, I assume that the Spanish banks will have to recover their debtors through the British courts, could those who feel they have been cheated argue this successfully in the British courts? That would be very interesting.

  • #85781
    Profile photo of Anonymous
    Anonymous
    Participant

    “I imagine the Spanish government will ask for restraint when chasing Spanish citizens for money but they can’t really ask the same for foreigners. Would they care? “

    The foreigners will be treated as being greedy & be thought as speculators. Besides this is perfectly, legal & legitimate grounds to cream off the equity that the foreigners have invested when they bought a property in the first place.

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