handing back keys

 i listened to marias pod cast re handing back keys , i also have a mortgage worth more than the value of my property ,a lot more , if i was to try to hand back this property  what gaurantee is there that the bank will not chase me in the uk or if they can make me bankcrupt. why would they simply let me walk away . if there is away to hand back negative equity property with no definite comeback i need this option .

Handing back the keys to the bank is known as "Dacion en pago" in Spain but this is not possible to do on a property which is in negative equity.

And most banks won't entertain dacion en pago anyway as the last thing they want at the moment is more properties on their books.

There was a reported case in a UK newspaper about a Spanish bank chasing a couple for a mortgage debt in the UK.  It's done via a European Enforcement Order.

Search for that in the search box on the left and you'll see a few discussions and blog posts about it.

Best of luck.

Justin