We bought a property from CAM Bank last September.
Unlike most other banks who overcharge on charges and then give you a couple of hundred euros bank after a few months on completion of the registration, CAM bank demanded an extra €1650 from us after completion as they said they had made a mistake. They would not allow us any leeway on payment and charged us extortionate penalties when we couldn't pay up front, taking our mortgage payments to offset the debt, etc. until it was paid. we ended up paying hundreds extra that we could not afford. Despite all of this and to date (10 months on), we still have not received the invoices and escritura for our purchase and mortgage and proof of why we had to pay this extra €1650. We regularly demand these but are fobbed off with 'there was a mistake at the notaries/registry and it is in hand' .
Recently somebody told us that if they (CAM) haven't registered the sale, we don't have to pay the mortgage and they cannot take the property from us. Is this really the case? Is there a statute of limitations whereby we can sell the property without having to pay back the mortgage? Given the abominable treatment we have received from CAM in every aspect of the purchase of their repossesssed property, I would love to be able to get one back on them.
Any advice gratefully accepted.
Regards