El blog de Maria

Lucy said:
Saturday, April 14, 2012 @ 11:28 AM

Congratulations! I think I might have asked before about our case. My husband is Spanish and we have his Dad as guarantor on the mortgage. Is there a way of handing the keys back to the flat here without dropping my husband and his Dad into a black pit of debt for the rest of their lives?

Thanks

Ian said:
Saturday, April 21, 2012 @ 7:55 AM

@Maria - You might want to inform us of some but very important details regarding your article. Was it for a remaining mortgage of say 5000 Euros, 100,000 Euros or 500,000 Euros, what is the estimated value (tasacion) of the property?

Ian

midasgold said:
Saturday, April 21, 2012 @ 8:30 AM

As with most court decisions here in Spain it can't be relied upon to be followed. If the bank dosent like the outcome it will
just ignore it. Don't too excited !!!

Dave said:
Saturday, April 21, 2012 @ 9:02 AM

Our property is worth about 80,000 euros and we have a mortgage of 93,000 what would happen if we just sent the keys back to the bank, we live in the UK ?

Ben said:
Saturday, April 21, 2012 @ 10:07 AM

What if you have negative equity and live in uk?If you can manage to raise some money will the banks accept a lump sum towards this and take back your keys.

Lin said:
Saturday, April 21, 2012 @ 12:58 PM

We were lucky in that we engaged a firm of Spanish lawyers to negotiate a dacion en pago deed for us, which they succeeded in doing. It took about 15 months, and that was after 6 months of the Bank ignoring our direct correspondence, and it cost us about £4,000 in fees. But we are free of the debt.

My understanding is that if you just hand the keys back and walk away, your UK assets may well be at risk - at any time in the future. Our Bank already has a UK premises, so I think the risk was very real.

Darcra said:
Saturday, April 21, 2012 @ 2:37 PM

My two sons are buying an apartment in spain, they have a mortgage of 135 thousand euros and although they paid 176 thousand euros it is now only worth about 95 thousand euros. They are struggling to keep paying the mortgage as they have mortgages on their own houses in England.
Could they give it back to the bank, with no retributions.
Thanks

mark said:
Saturday, April 21, 2012 @ 5:13 PM

It is interesting to hear the banks ignoring requests about the dacion en pago process. We bought an apartment on the Medina Elvira Fairways development 18 months ago and have asked the bank to take it back via the dacion en pago route, but we haven't heard anything for at least 12 months despite constant e-mails to them and through or soilcitor. We are increasingly worried as our solicitor is only doing us a favour for free, as we have no money left to pay her and we are frightened our home in the UK may be dragged into the mess. we have no idea what to do or who to turn to. what a mess we all seem to be in, at least some one has had good news and avoided repossesion!!!

shirl said:
Saturday, April 21, 2012 @ 9:28 PM

We too are in negative equity and would dearly love to just hand the house back and walk away and not owe anything in Spain or have our UK property compromised, can this be done ?

Maria said:
Saturday, April 21, 2012 @ 11:21 PM

Banks cannot repossess properties for less than 60% of its value ( value for auctions established in mortgage deed)

If the remaining debt is near this region, and you have no free assets in Spain first and the UK ( even more in your favour), out of Court/In Court settlement with the Bank is quite possible.

Every Bank reacts differently and of course your finantial circunstances and the way you claim makes an important impact.

I would be pleased to offer initial out of charge appraisal to you, on an individual basis.

Kindest,

Maria

Barry said:
Wednesday, April 25, 2012 @ 9:07 AM

I can vouch for Maria Castro. I was having problems handing back my house in Murcia with a 75k shortfall to a major bank and was going nowhere with my own solicitor, but after hiring Maria who quoted the relevant laws regarding the Dacion en Pago proceedure the ball started rolling and 6 months later the bank have accepted the property with no recourse to my England home... She is what I would call a "Big Gun" and knows what buttons to press. Highly recommended. Barry

Barry said:
Wednesday, April 25, 2012 @ 9:08 AM

I can vouch for Maria Castro. I was having problems handing back my house in Murcia with a 75k shortfall to a major bank and was going nowhere with my own solicitor, but after hiring Maria who quoted the relevant laws regarding the Dacion en Pago proceedure the ball started rolling and 6 months later the bank have accepted the property with no recourse to my England home... She is what I would call a "Big Gun" and knows what buttons to press. Highly recommended. Barry

Barry said:
Wednesday, April 25, 2012 @ 9:10 AM

I can vouch for Maria Castro. I was having problems handing back my house in Murcia with a 75k shortfall to a major bank and was going nowhere with my own solicitor, but after hiring Maria who quoted the relevant laws regarding the Dacion en Pago proceedure the ball started rolling and 6 months later the bank have accepted the property with no recourse to my England home... She is what I would call a "Big Gun" and knows what buttons to press. Highly recommended. Barry

John said:
Friday, May 18, 2012 @ 3:07 PM

I have a property in Calahonda with negative equity in the region of Euro 200,000

My business has gone in ireland and i have no way to repay a mortgage of
Euro 364,000 on this Spanish property.

Can this Dación en Pago be used in my case??

Maria said:
Friday, May 18, 2012 @ 3:40 PM

John:

I need to see several aspects of your situation before giving to you my opinion.

If you want, you can email us to web@costaluzlawyers.es for a free appraisal.

Kindest,
María

Lynda said:
Sunday, May 20, 2012 @ 2:07 PM

We purchased a property on Las Terrazas De La Torre on a 3 year deferred mortgage, having paid an initial deposit, with the balance of 93.000 euros. This mortgage starts in December 2013.
The development is un finished,and promised amenities e.g hotel, resturants,club house, do not exist,and no likelyhood of ever happening. We would like to hand back the keys to the bank,before the mortgage starts,and would be grateful for your advise.

Maria said:
Monday, May 21, 2012 @ 7:04 AM

Lynda:

Please email us to web@costaluzlawyers.es so we can give orientation to you.

Kindest,

María