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José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 6299
Experience:  Spanish Attorney
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I am following up on a previous question responded to by

Customer Question

I am following up on a previous question responded to by Jose M. Please refer to previous question.I am concerned that if I stop paying the mortgages and the central bank take on the case there may be legal fees that will increase the debt and make the situation worse. What is your experience of this? I am happy to give up everything I have in Spain but want to protect my UK house.Regards.Phil.Please see below previous question and answer pasted..Original question:
I have 2 properties in rural Spain with mortgages. They are both mothballed but I continue to pay the mortgages. In addition I have one semi reformed property with no debt and 2 ruins with no work undertaken. I would quite happily walk away from all of it if I didn't have to pay the mortgage fees.We returned to the uk in 2011. I am worried that if I hand the keys in and stop paying they will chase my house in UK. What advice can you offer. Thanks in advance.Answer:
According to spanish law, the bank, must seize and take the mortaged propiety first, so, each bank has to follow this way.
Before they done it, you could deal with them to give the propiety or whatever you could interested on
If they do not accept your offers, they have to demand you in court in order to get, firstly the propiety of the mortaged propiety, and then, they could demand you at court againforr the sum left
If you got something here in Spain they could seize it and sell it at court by a judicial procedure
At the end of it they hardly could seize you and demand in UK. They have to spent a lot of money to do that and you could force them to go in Spain first for all you got here
So, if the risk is to be seized in UK the risk is very low
The steps are, stop making payments, as long as you pay tgey do not deal with you
During 6 months they try to threat you, do noy take care of them
6 months later you will be called from the risk department of the bank and its only with them who you have to deal
Try to get an agrement with them and do not pay
At the end they will have to decide what to do, and they always deal
I have some experience with cases like yours
Thank you
Submitted: 2 years ago.
Category: Spain Law
Expert:  José M. replied 2 years ago.
Hi there. I have been working with a lot of people, clients, with problems with the banks, in order yo know really your risk I need your escrituras, I will send you an offer with my phone as the site requires. Thank you
Customer: replied 2 years ago.
I will need to find the escrituras and obtain copies of those in Spain. I will come back to you once I have done this.Regards,Phil.
Expert:  José M. replied 2 years ago.
It will be perfect
Tell me If there something I could do here for you
Thank you