Struggling to keep up payments on a Spanish mortgage

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This topic contains 1 reply, has 2 voices, and was last updated by  inbarcelona 1 year, 5 months ago.

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  • #193211

    Surin
    Participant

    We have a Spanish mortgage for 161K euros however the value is now 140K euros max.

    We are still attempting to make the mortgage payments however are struggling. We would like to start conversation with the bank to hand the property back however what should we be thinking about before we do this?

    Has anyone does this before? Are we likely to ensure additional costs? will they chase is in the UK for the difference?

    Many Thanks

     

  • #194444

    inbarcelona
    Participant

    If you live in the UK, I would just hand the keys back to the bank and stop paying the mortgage.

    They would be VERY unlikely to come after you…

    They would just sell it and write off the loss.

     

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