View Full Version : spanish mortgage

12-01-2012, 11:19 PM
My husband and myself have a spanish property but can no longer afford the mortgage can they take our property in england if we do not pay.

12-12-2012, 04:05 PM
Hello Chi-Kita,

The banks rarely take Estate in other countries to recover a debt though they are certainly allowed to go against any assets you have registered in your name worldwide. An individual that has a debt in Spain can be chased in other countries, regardless of his nationality. This individual will have to face the debt with his/her future and present assets ( Estate, Assets, Salary, etc ), no matter their location.

I recommend to try and negotiate with the bank a proposal to reduce the mortgage fee or enter an interest only period to reduce risks.


12-16-2012, 01:09 PM
I don't think you are right on this Patricia. They can certainly chase you in the Uk or EU by using a debt collecting agency but any country outside the EU they would struggle with. The best thing to do is if you are mortgage free in the Uk is sign the title deeds over to your children so they will own the property. That way any Spanish bank will not be able to take it to clear the debt. I also think that with so many properties and builders going bust the back log will take forever to clear.
I intend to buy another house but put it in my childrens names.

01-03-2013, 01:55 PM

Thanks for your comments. Well, I did not mean they cannot chase you or take properties from you if you have a debt; I was mainly mentioning that the practice was rare, though not impossible at all, as it certainly is something they can do as there are legal tools for them to take those properties.

The solution a property owner takes to mitigate risks is entirely up to him and considering his personal circumstances. In your case, you choose to buy in your childrenīs name.


02-19-2014, 12:35 PM
have a look on this site for more info, they are always willing to help


03-28-2014, 01:54 PM
I read a post on another forum where someone had had their UK credit history messed up by a default from a Spanish bank due to a mortgage default.

In the UK a default notice can be there for 6 years and to most prime lenders your branded slightly better than dog squeeze.

Does anyone think that people with assets in the UK should consider creating a "wild goose chase" paper trail back to Spain?

Like for example registering them selves at the town hall at a Spanish address and having their Spanish bank mail sent their?