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The process for solving negative equity problems in Spain


From our experience every case regarding Spanish negative equity is different. Everyone’s circumstances differ, and no case is identical in what we do. Nonetheless, there is a process EU Property Solutions follow to ensure we can deliver the best service and most importantly best result for our clients.

Below is EU Property Solutions step by step guide on how to eradicate your Spanish Negative Equity Debt Burden:

Step 1 – Contact EU Property Solutions

You can contact us via our live chat on our website, email us info@eupropertysolutions.com or preferably call our Business Relationship Team directly on +44 (0)330 124 1230.

In the initial stages, the team will ask some basic questions such as the property location, your Spanish lender, the mortgage balance outstanding, the estimated value of the property and a brief discussion regarding your financial circumstances in the UK or Ireland.

Step 2 – Follow-Up

A follow-up call will be scheduled with an advisor. They will discuss the case in more depth, the time frame to complete, the fees involved and the process. Also, specific documentation will be required to review the case and without this, we cannot proceed. It is essential that any potential client is proactive in collating the documentation and crucial for the legal team in Spain to review.

Step 3 – Summary Email & Quote

The advisor will then issue an email. This email gives information on EU Property Solutions, the next steps including documentation required, a fee quote valid for 10 working days subject to a review of documentation.

Furthermore, telephone references will be provided to allow a potential client to hear the thoughts of those who have gone through the process.

Step 4 – Legal Team Review

Once the potential client has collated the documentation it is issued to the legal team in our San Pedro office for review. This is a key element of the process as from here we can decide whether the case is favorable to pursue. Our legal team will review the documentation within 48 hours.

EU Property Solutions will never take a case on if we do not believe it can be successfully concluded. It is not only a waste of client’s time it is also a waste of resources and company time.

Step 5 – Case Can Proceed

You will be notified by email that your case can proceed. The email will include the next steps including instructions to set up the correct Power of Attorney to allow us to act on the case and also the “housekeeping” such as where to issue the invoice and fee agreement.

Step 6- Retainer Fee Paid

Once the retainer fee is paid to confirm EU Property Solutions appointment your case will be handed to case manager based in our Spanish office.

From there they will guide you all the way through the process until completion. They will ask for further basic financial information such as Bank statements, evidence of income and Credit Report and the quicker this is gathered the quicker full submissions can be made to your Spanish lender.

Whilst we quote a timeframe it is difficult to be exact and it does vary lender by lender.

Step 7 – Case Conclusion

As a rule once a Bank values the property the client is looking to offload then a settlement is imminent. Your case manager will advise you of progress and of course this step. Once a settlement is agreed the lender with require a deed to be signed in front of the notary. Our lawyer will attend this hearing and forward the relevant legal document directly to the client via email. This is the matter closed and you are no longer liable for any debt relating to the property.

At this stage, our agreed success fee is due in full.

EU Property Solutions offer a premium service achieving consistently excellent results for those with a property in Spain trapped in Negative Equity. Our success rate is second to none and our knowledge testament to the efforts we have put in on the ground in Spain. We take the case to your lender to ensure we achieve the best result for you – there is no conflict of interest.

Should you wish to discuss any European Property Debt matter please call EU Property Solutions today on +44 (0)330 124 1230. We look forward to working with you.


James Bell – Director

* This article has been written by a third party not owned or controlled by Spanish Property Insight (SPI).
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