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The Masked Tulip

Spanish Bank Bids To Seize Cottage After Couple Miss Payments On Holiday Flat

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I wonder how common this is?

A couple who face losing their house in Britain to a Spanish bank have warned of the dangers of falling behind in mortgage payments on holiday homes abroad.

In an alarming development for the many thousands of Britons who have bought properties in Spain, a bank in Marbella is using EU law to force Carol and Ian Chatterton out of their £300,000 cottage in Wiltshire.

The couple – who are both NHS paramedics and have two daughters aged 12 and 14 – could be forced to sell up to pay back a mortgage on an apartment in Spain, following a hearing due to take place on Tuesday.

Read more: http://www.dailymail.co.uk/news/article-1333710/Spanish-bank-bids-seize-couples-UK-home-miss-payments-holiday-flat.html#ixzz16aO8FFYV

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Surely this obvious. If you take out deb with a bank and can't repay it then they will sieze your assets. Doesn't matter what country the bank or your assets are in surely?

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they should of registered some dodgy company, had a hundred holiday cottages, MEWed them to fund a lifestyle similar to a premiership footballer.

then they would of been fine. any problems - go bankrupt, and then start again with the same business model, but with new name.

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In their favour, they owe the Halifax nearly as much as 'they think the house is worth' so any order won't be forced through.

Send them to debtors jail now!

Edited by tomposh101

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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