Re: Re: Costa nightmare could cost us our UK home…

#104757
Fuengi (Andrew)
Participant

@charlie wrote:

When they offered their appartment back to the bank they didn’t want it – it seems not even the banks think an appartment in Duquesa is a good ‘asset’ to have at the moment, at any price….
Bottom line to this story, miss payments on a mortgage whereever it may be, fail in your responsibility to honour your contractual agreement, you get snookered. They should have read the small print.

they borrowed 145.000 sterling to buy the apartment. exchange rates in 2004 would have give 1.45€ to the pound. So a 2 bed, 2 bath standard property in Duquesa with a mortgage of over 200.000€ on it…. not suprised the bank did not want it!