- This topic has 15 replies, 10 voices, and was last updated 13 years, 11 months ago by
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@mark wrote:
Anyone? I’m still looking….
Thanks in advance
Mark
I have had information about customers facing legal action in UK when they did not complete a conveyance contract, even having lost amounts paid in advance.
In case of mortgage, when you do not deal with Bank in order to give them the property directly, you are taking the risk of a legal action in UK, based in agreed personal liability to refund the loan.
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I am also trying to find instances of legal proceedings actually having been commenced/concluded in the UK against someone who has defaulted on their Spanish mortgage.
Although the general advice expressed on most sites is not to put one’s head in a bucket and hope for the best, but to engage with the bank, the reality is that most people are in fact putting their heads down and hoping the Spanish banks will not proceed against them in the UK for various cost and logistical reasons.
There seems to be a curious “phoney war” about this threat; either that or it is the calm before the storm if indeed as you suggest, the Spanish banks and their lawyers may be merely biding their time and gearing up for a major onslaught on defaulters. Is there any way to find out the true position about this?
P.S. Keep up the good work.
pkn -
An interesting article here.
If I were in a position where I had assets in the UK I would seek legal advice in the UK. I think there is a lot of posturing going around hoping that people will continue to pay.
I think the T&C’s of many spanish banks would be rearded as unfair in a UK court. Especially the massive charges they add to defaulters mortgage. About 25%?
One point in the article says that in order to take court proceedings the property has to be sold first to decide the outstanding debt!
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While, I appreciate that some people may be burying their heads in the sand. While the others who have been responsible have found the banks to be unsympathetic, non accommodating.
It will intresting to see how Courts here would act upon ,as in most cases the purchase contract was illegal and therefore all that stems from an illegal contract is also illegal and as such unenforceable.
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This is what I’m talking about:
viewtopic.php?f=13&t=5400 -
Costa nightmare could cost us our UK home: Spanish bank bids to seize cottage after couple miss payments on holiday flat
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@marksfish wrote:
A bit late to add this, but… My Wife works in the Barclays mortgage arrears section and they now have a section (of 2 people) specifically for Barclays Spain collections in the UK.
Mark
Hi Mark
I know you posted this a year ago, but I’d be really interested in hearing more about this as I’m writing a piece for the Sunday Times on this subject. Anyone with any info please send me a PM. Thanks, Zoe. -
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Not negative equity but on an urbanisation where I have property the owners who owe community charge are being pursued by the management in UK and Ireland with debt collectors and bailiffs. I understand most have paid up before court action was needed.
Legal advice is Spanish lawful debts can obtain legal judgements in other EU courts systems. -
Bailiffs, can phone you or harras you. They have no legal right to enter your premises without a Court order. I doubt very much a Court will give this order on a judgement obtained in Spain.
In my experience many people withold payments for very good reasons, e.g resident association in with the Developer, service provider, incompetant & non caring managing Agents, dodgy accounts. fruad commited by Managing agents & owners are expected to pay for it etc, etc. -
@shakeel wrote:
Bailiffs, can phone you or harras you. They have no legal right to enter your premises without a Court order. I doubt very much a Court will give this order on a judgement obtained in Spain.
In my experience many people withold payments for very good reasons, e.g resident association in with the Developer, service provider, incompetant & non caring managing Agents, dodgy accounts. fruad commited by Managing agents & owners are expected to pay for it etc, etc.Agreed. I personally think their actions were extreme.
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Mark,
You have raised a very good question and one that I’ve been interested in learning more about.
I recently helped a Uk Owner couple who’d reached the point where they couldn’t afford the cost of maintaining their mortgage payments plus other costs such as , Community Fees, Insurances, Basura, IBI taxes etc.
Through a Marbella Lawyer they went through the process of handing back their property legally. The bank had insisted that they pay for a valuation which they did. The valuation came in at about 20k below their mortgage balance and the Bank asked them to contribute a further 30k to cover all of their costs. They offered 20k but it was refused so they advised their lawyer to just hand it back and blow the consequenses!!
Unbelieveably, a couple of months later the Bank came back to them and offered to take back their property without any penalty charge but just insisted that they pay all outstanding Community fees, Basura, Ibi etc which they did. Just recently everything was completed and they can now move on without any concern that they maybe contacted by a Uk Solicitor looking for cash?
I have though had contact with a UK Company who try to recover unpaid Community Fees from Uk debtors. In my role as a President of my Community I engaged them last March and they have since recovered thousands of Euros from various non payers!
It maybe the case that recovering Mortgage Arrears from Non Resident Owners is a more difficult procedure but I wouldnt be surprised if these type of actions become a rising trend with so many defaulters?
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