Banco Halifax Hispana was incorporated in 1993 to serve the needs of Expat buyers in the Southern Costas in Spain. Many investors took out mortgages with Halifax as they were a trusted UK High Street lender giving them confidence in their overseas property purchase and finance they obtained.
Unfortunately, many borrowers now find that their loans are no longer with Halifax.
See the below timeline:
EU Property Solutions experience with Banco Sabadell to date has been positive. We met with the Bank in their Seville office in April 2019 and the bank confirmed there are many Non-Performing Loans. They also explained they are increasing their collection methods in the United Kingdom and Ireland.
Many borrowers in a fix look to place blame with the bank, but in the case of the Halifax loan book Sabadell did not write these mortgages and are now, in many cases, working with borrowers to address their Spanish property issues. Their proactive methods and legal approach allow overseas borrowers the opportunity to dispose of their property with minimal costs and problems providing it is done through legal avenues.
We work with all core Spanish lenders as well as British lenders who still operate in Spain.
Get in touch if you are struggling with a mortgage in Spain, even if the brand-name of your original lender has disappeared from Spain.
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