Mortgage company Suing us in England

 Hi, can anyone help...we have tried to keep up with our mortgage payments with UCI , they have been very patient , we have had an agreement for the past 2-3 years, however we now find ourselves in a position where we cannot make anymore regular payments as our apparmtents isnt rented all the time and the rent we achieve doesn't cover half of the mortgage .  The mortgage company has offered us 2 paths 

!) To start the process of Dation in Payment..which I believe is when they purchase your propery for 90% of the value and then we take out a personal loan for the balance , in our case this will be in excess of 100000euros...impossible.

2) They will hand the case over to their english lawyers and sue us which means they will come after our home....Helllllp!!!

We only purchased our apartment because there was a guaranteed rental income of 5% of the purchase price  however the company has reneiged on the agreement and are irecievership, they owe us 14,000 euros .

Alan,

I would suggest you contact Mariea De Castro for her advice on how to stop them pursuing in the UK.

Gavin.

Hi,

You can also speak to the lawyer we have used, and so did many or the people who bought in our Resort (Roda Golf). Her name is Adriana Perez, and I am sure her and her team (specially her colleague Eve) will be able to help you. The phone number we have is (0034)968334178.

I am sure they will be able to help you .

I hope they'll help you sort this situation out.

All the best for the future,

Gill

Hi,

I can sympathise with your situation. Being offered a dation in payment is a positive thing though, at least then the majority of what you owe would be paid. Very few lenders are offering dacion en pago and reposession seems to be the only option for the borrower. Our bank will not even consider a dation and like you I fear being pursued in the UK. As others have suggeste, contact Maria de Castro at Costa Luz Lawyers  who may be able to offer some advice.Good luck !

Thank you all, I would like Maria de Castro's address or contact details please , and thank you for the other name to contact.  Sorry for any errors in postings as this is the first time Ive posted anything.

Thank you all its really appreciated.

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