Hi our English son lives works and is resident in Mallorca. He has a joint mortgage and his relationship has broken down. He needs to remortgage. His bank will not accept him as sole mortgagee. We the parents have assets in the UK of approx. £1,000,000 and no debts and can pay the other partners half of mortgage. But the bank will not accept us as guarantors, as our ages are 67 and 71 respectively. The property has been valued by the bank @ 268,000 euros of which there is 170,000 outstanding. Any advice on moving forward would appreciated.
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