New RDT Mortgage Settlements

17th June 2015

Lender: Sabadell Location: Malaga Outcome: As with many people caught up in the European financial downturn, this client had bought a holiday home in Spain during the boom years only to find he could no longer afford to meet the mortgage and expenses which amounted to €220,000. The Bank had sought to place a Charging […]

Mortgages – death & divorce

10th June 2015

On the topic of Mortgages there are two specific situations, Death and Divorce, which provoke regular enquires to Spanish Solicitors. Far from providing straight answers and simple solutions, the current regulation on mortgages in Spain doesn´t provide an answer for such scenarios Divorce and mortgage In some other articles within these newsletters it has been […]

English v Spanish law

21st May 2015

Our Spanish solicitors are often approached to answer queries concerning legal issues in Spain encountered either by British residents with an interest in Spain, or those ex-pats who have legal issues within the country. Many people are surprised by the completely different regulation of the said matter in both countries. These queries generally start with […]

Mortgages in Spain

22nd April 2015

The purchasers of a property in Spain as a second residence usually require a mortgage. Getting such finance is quite feasible, and many mortgages are granted regularly in Spain for non residents. However, it is useful to know and understand at least the basic intricacies of the local mortgage application and granting, as these peculiarities […]

Spanish Property Crash

21st April 2015

The Spanish real estate market crashed in 2010 after a decade of excessive construction and over inflation in prices. This left a myriad of developments half finished, thousands of local developers out of business and buyers with properties which, once completed, were worth half of what they originally paid for. However, once the overall situation […]

Recent Mortgage Settlements

12th March 2015

Lender: Banco Popular Location: Malaga Outcome: We negotiated a partial settlement which saw the mortgage cleared, the client´s legal liability removed, and the shortfall of €87,000 written off. The client was required to pay €15,000 towards the mortgage debt and the associated non-residents Tax but the Bank paid the Notary and Land Registry fees to […]

Mortgage Deed

All things being equal. A new way to remove or amend the clauses in the mortgage deeds based in unexpected change of circumstances of the borrower The Higher Court of Majorca in July 2014 issued a judgement that went initially unnoticed but that has gained notoriety in the last months, as it’s been alleged as […]

Bankia

18th December 2014

Those who invested in Bankia via the IPO in 2011 or purchased “preferred options” in the last few years yesterday received good news. The good news is that the bank, through its CEO, admitted the wrongdoings when the company went public and opened the door to refund investors. The story of Bankia is an apt […]

Mortgage Settlements

15th December 2014

We are pleased to share the news of our continued success with Spanish Mortgage settlements. Here is a taster of some of the settlements we have secured over the past 3 weeks: Lender: Sabadell Location: Malaga Outcome: The client has benefited from a full settlement. The Bank agreed to write off the full mortgage debt […]

Spanish Mortgages – update

10th December 2014

When there are only a few weeks until the end of 2014, the Spanish legislator, in spite of its repeated promises has not yet (as of December 9th) amended the regulation of mortgages. The construction bubble of the mid 2000s burst in 2009, and thus provoked: a) the drastic drop in the value of the […]

Regulation of Tourism Licences

6th November 2014

The Spanish regulation of tourist licences for holiday properties – The regulation In the last decade, the rental of private properties in Spain by private owners has increased dramatically. From an occasional and scarce activity it has developed into a whole new industry – the estimates are that there are in Spain (at November 2014) […]

Tourist Licences for Properties

4th November 2014

The Spanish regulation of tourist licences for holiday properties The lease or rent of a property in Spain for holiday lets agreed directly with a private owner, has increased in the last few years enormously. This has been pushed by, amongst other reasons, the reduced air fares between the UK and Spain, the convenient exchange […]

UK Action by Spanish Banks

30th October 2014

The rights of the debtor in the application for a charging order on a property in the UK made by a bank before the repossession process is completed in Spain. It is becoming rather common that the defendant in a repossession process filed in Spain, receives also a communication from a local County Court with […]

Criminal Process in Spain

24th October 2014

Notes on minor aspects of the criminal process in Spain: arrest warrants and criminal records There are some points regarding the criminal process in Spain,that are little or not known, but that play an important part in the process, and also after it. These are the arrest warrant issued by a Spanish Court and the […]

Further Mortgage Settlements

23rd October 2014

We are pleased to share the news of our continued success with Spanish Mortgage settlements. Here is a taster of some of the settlements we have secured over the past 3 weeks: Lender: Banco Sabadell Location: Valencia Outcome: We negotiated a full settlement which saw the mortgage cleared, the client´s legal liability removed, and the […]

Spanish Criminal Law

22nd October 2014

The length of time since an offence is committed or a sentence is passed has a specific and major relevance in a criminal case, as it might actually provoke that a suspect cannot be prosecuted, or eventually that a sentence passed becomes non-enforceable. However, the mechanisms behind it, how time directly affects the possible prosecution, […]

Trampolin Hills

16th October 2014

The frustrated buyers of properties in the development of Trampolin Hills in Murcia have found new hope after many years of delays, disappointments and financial losses. Two courts have ruled against the developer´s bank (Caixabank) and has forced it to repay deposits to buyers. The Trampolin Hills properties (the commercial name of Trampolin Hills Golf […]

Illegal Property in Andalusia

14th October 2014

Legalisation of illegally built properties in Andalusia The regional government of Andalusia has recently passed a bill in order to tackle the problem of numerous illegal properties in Eastern Andalusia, mainly in Almeria and Malaga. The regional government already attempted to solve the problem by enacting a rule in 2012 with the same aim. However, […]

IRPH & Euribor

2nd October 2014

The interest reference rates that charge the mortgages in Spain have been the euribor and the IRPH. The former is a reference linked to the interest rate set by the European financial authority; the latter is a rate created by the Spanish financial institutions (initially the local Cajas or saving banks) and is an average […]

Recent Mortgage Settlements

5th September 2014

Our team of solicitors at RDT Abogados are delighted to share the good news regarding our most recent success with Spanish mortgage settlements. Many UK and Irish clients are experiencing difficulty with meeting mortgage payments for their Spanish properties. RDT Abogados represent a number of clients in this situation. In recent weeks settlement of mortgages, […]