We bought an apartment on the Costa Del Sol 7 years ago now and put down 20% deposit and have been paying our mortage for 7 years. The bank valued the apartment at the time of purchase at 245,000 euros and we actually paid 211,000 which we thought was a bargain due to the high valuation by the bank.

We have to retire from our jobs next year and due to family commitments need to stay in England so we will not be able to afford our Spanish mortgage. Do you think Bankia would take the keys back in exchange for the apartment?

We currently owe 135,000 euros and would probably now only be able to sell for 100,000 - 120,000 euros if we were lucky enough to be able to sell.