21 Jan 2008 2:52 PM:

HI Paolobrown, I am in a very similar situation to you and thinking about stopping mortgage payments after buying 2 years ago on one of these no deposit, all fees paid, rental will cover mortgage deals.  I am also in the situation where the apartment valuation was over inflated by the bank and now I have an apartment worth less then debt.  I am very close to bailing out but would like some advice on the downside of doing this, obviously I will lose the apartment )repo) to the bank (not too worried about this aswill be glad to see back of it), but what I would like advice on is can the Spanish bank come after UK assets? effect my credit rating?  If so what are the chances of this?  as from researching this is appears that they are not really doing this yet? 

Any advice or guidance would be appreciated.

Thread: selling spanish property

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