Help with redemption please :)

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03 Sep 2015 13:45 by mucker Star rating. 4 posts Send private message

Hi guys,

I would like to pay 50k off my 90k mortgage.

I would like to know if it is possible to offer the bank that money to redeem the mortgage rather than just paying 50k and how to go about it, does anybody have any experience of this?

I know from my own research and talking to the bank that they are resistent to the idea but I have seen instances of mortgages reduced on Abogado sites.

All the best and thanks in advance for any advice...

Mucker :)

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03 Sep 2015 13:56 by johnzx Star rating in Spain. 5247 posts Send private message

My son paid off his mortgage to a Spanish bank after a couple of years.   No problem, but there were fees to pay and, although he has not done it yet (that was about 6 years ago) the Property Registry need a fee to remove the debt from the registry.

I would suggest you approach the manager of your branch to see if you can 'negotiate' the fees downwards, You  may be lucky..


This message was last edited by johnzx on 03/09/2015.

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