60% of property value

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
09 Sep 2011 12:00 AM by amatista Star rating. 440 posts Send private message

Hi, I have heard that a relatively new law has come into force, that if a home is repossessed by the bank and the mortgage outstanding is more than the value of the property, the bank can only take 60% of the value?? I am a bit confused about it, Maria de Castro touched upon it on her podcast about banks pursuing property in UK or Spain if someone´s house is repossessed, but  I could not quite get the jist? Can anyone help?

When i applied for my mortgage in 2006, my one bed flat was valued at 185,000 by two banks, one of which i  have a mortgage with, but i would not expect it to fetch more than about 90,000 in the current market, and i still owe the bank 130.000.

Thanks,





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Fine on sale of apartment called "Liq De Transmisiones Gestion" - 0 posts
Capital Gains Excemption if reinvesting profits in a property out of Spain? - 3 posts
Real Estate Agent responsibilities and % commission? - 4 posts
Al Andalus Car Hire - 1 posts
Best Spanish PAYG SIM? - 1 posts
Recovery of Deposit - 46 posts
Long Term Rental Qanted from 18th October Algorfa - 1 posts
help needed Urgently please - 10 posts
Scruffy Dop needs a home - 0 posts
Non resident capital gains - 2 posts
Calanova Palm..........Bank Guarantee - 0 posts
Amazon coming to Spain next week - 39 posts
hotel or guest house - 2 posts
Short Term Residency in Spain - 6 posts
Self employed tax - 3 posts
Tax in Spain - 11 posts
Lawyers for Conveyancing - Different types? - 11 posts
Lawyers - different types - 0 posts
Satellite tv, white card, loss of channels Andalucia - 8 posts
Looking for 2B Apt Marbella San Pedro area, to move around 16/09/11 - 0 posts
conversacion español-ingles en Skype - 0 posts
Non-Resident Income Tax - A Guide - 20 posts
BBC iplayer - 28 posts
transport for a ski walker from Cheltenham to Alicante ? - 0 posts
Is this about right - 9 posts

Number of posts in this thread: 1

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x