Handing Back the Keys_Pamela Village

[Molls Pad]

Good morning! A questioned asked by many - has anyone just handed back keys / walked away from their property in Portugal - I bought in 2007, was supposed to have a guaranteed rental for 3 years - this last 2 and even at that it was a struggle to get the few bob!!

It's been a nightmare at my wits end now - n broke - can / will the banks chase us - can it effect our credit rating here - at the time we would have given bank details here to get mtg in portugal!

Properties are worth 50K if that at all as nothing selling - would still owe a huge chunk to the banks and if we consider the deposit / cash input initially plus the mortgage repayments to date its a right kick in the ass - dead money!!

any views / suggestions greatly appreciated!!
Moll

 

[totallyproperty]

I would be very interested to hear from other members who have been in a similar situation as this seems like something of a legal minefield.

Regards,


Mark

 

[brenlu]

Hi Moll,

As a fellow Owner just letting you know you are not on your own- we're having a meeting in Dublin this Saturday 25th with access to legal advice- if you're a FaceBook member you can request access to the private Palmela Owner's discussion page, where you'll find details. I've sent you a friend request on this site so you can have a contact if you require.