International Mortgage Solutions
International Conveyancing solutions

Personal, Professional & Independent Advice.

Spain:   +34 952 459 745

Mortgage payment missed and not cleared within 3 months

Bank passes to legal department and notifies client.

Failure by customer to clear arrears within timescale given; case is passed to banks appointed lawyers.

Lawyers take best measures to ensure customer is aware of situation by means of visiting property to hand over in person notification or registered post.

Lawyers unable to communicate with customer or client does not respond.

Notice placed for 3 months on relevant Courts notice Board.

Failure of customer to respond and clear outstanding amounts.

put into Court Auction to sell at no less than 70% of auctionable amount identified on deeds.

Sold at Auction outstanding debt is crystallised.

Failure to sell at Auction Bank takes over property at 50% of Auctionable price and full debt outstanding is crystallised.

Bank pursues customer for outstanding debt by use of Spanish Court order.

Attachment of earnings implemented or sale of UK assets enforced until debt is fully cleared.

At any point up to the Court Auction the repossession process can be halted by either clearance of outstanding payments, plus costs incurred including Penal Interest and legals or by agreement with the Bank for the property to be taken back or sold by the owner.

For further information; our free information sheet; and free personal consultation on your options contact us today.

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Spain: +34 952 45 97 45 | Fax: +34 952 45 97 42

International Mortgage Solutions, Lista de Correos, C.P 29110, Monda Malaga

International Mortgage Solutions guarantee the following:
Neither your personal financial details or other personal information sent for a mortgage enquiry or application
will at any time be passed to or sold to any third party for data base marketing purposes or any other reason.
Information in relation to a full mortgage application will only be passed to the bank or relevant banks to which we are making an application.

Please note that all UK mortgage enquiries are passed with the clients permission to an authorised independent UK broker.
We do not advise on or arrange UK loans directly ourselves as we are not FSA regulated to do so.