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Struggling to keep up payments on a Spanish mortgage

This topic has 1 reply, 2 voices, and was last updated 7 years, 11 months ago by inbarcelona.

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- October 27, 2016 at 12:06 am #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
- January 22, 2017 at 3:57 pm #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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