# handing keys in



## leothelion (Apr 12, 2008)

can anybody help here, if somebody has a villa in spain is still resident in the uk, and is falling behind with the mortgage payments in spain, if they were to throw in the keys of the spanish property would that affect their credit rating in the uk.


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## Hombre (Sep 10, 2009)

leothelion said:


> can anybody help here, if somebody has a villa in spain is still resident in the uk, and is falling behind with the mortgage payments in spain, if they were to throw in the keys of the spanish property would that affect their credit rating in the uk.


Well....I've just got back from the UK, and , if it were me, I'd chuck in the keys to the UK house and come and live in Spain.
Sorry...I'm being facetious and not very helpful.


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## Cazzy (Nov 23, 2008)

Our neighbours tried that but the bank refused the keys, they said that in about a year/eighteen months the house would be reposessed and that they should try and sell the house at a knock down price to cover the mortgage, because when they did reposess the house if there were any fees outstanding they would be liable. So their house that was originally up for sale at over 200,000k is up for sale for 99,000k a real bargain, but they still can't sell it!!!




leothelion said:


> can anybody help here, if somebody has a villa in spain is still resident in the uk, and is falling behind with the mortgage payments in spain, if they were to throw in the keys of the spanish property would that affect their credit rating in the uk.


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## leothelion (Apr 12, 2008)

Hombre said:


> Well....I've just got back from the UK, and , if it were me, I'd chuck in the keys to the UK house and come and live in Spain.
> Sorry...I'm being facetious and not very helpful.


no hombre you are not being very helpful at all, this is a serious matter and being facetious about it doesnt help the poor people who are in a desperate situation, everybody has their own circumstances and its fortunate you were in a position to do that, but for people who are not that fortunate or who have serious debt staring them in the face with a young family to fend for its no laughing matter. so strange person or not you should be ashamed of yourself mocking desperate people.


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## xabiaxica (Jun 23, 2009)

leothelion said:


> no hombre you are not being very helpful at all, this is a serious matter and being facetious about it doesnt help the poor people who are in a desperate situation, everybody has their own circumstances and its fortunate you were in a position to do that, but for people who are not that fortunate or who have serious debt staring them in the face with a young family to fend for its no laughing matter. so strange person or not you should be ashamed of yourself mocking desperate people.


he did apologise - sort of


sorry to say that yes, I do believe it could affect your credit rating in the UK


I believe there is now some sort of agreement between the countries for debts to follow across borders


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## leothelion (Apr 12, 2008)

xabiachica said:


> he did apologise - sort of
> 
> 
> sorry to say that yes, I do believe it could affect your credit rating in the UK
> ...


hi thanks for that i was afraid that was the answer, many thanks


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## SteveHall (Oct 17, 2008)

Throwing the keys in will help NOBODY. They need professional help. My solicitor "specialises" in this - sadly - and I asked her to do a definitive guide. She did.

No, it will NOT as of today harm his UK credit rating BUT that is the least of his problems. He needs help and NOW. As has already been said, some banks/branches are refusing to accept the keys. They have NO responsibility to.


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## mrypg9 (Apr 26, 2008)

SteveHall said:


> No, it will NOT as of today harm his UK credit rating banksto accept the keys. They QUOTE
> 
> Sadly, that is not true. Finance is international and credit agencies such as Experian and Equifax operate globally.
> About ten years ago I needed a small mortgage from a Canadian bank to complete a house purchase in Ontario. In order to get it I had to supply a rating from an internationally recognised credit agency. Because I had been a month late in making a payment to Next Ltd (I had returned some goods too late to be credited to my a/c) I almost lost the mortgage.
> ...


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## leothelion (Apr 12, 2008)

mrypg9 said:


> SteveHall said:
> 
> 
> > No, it will NOT as of today harm his UK credit rating banksto accept the keys. They QUOTE
> ...


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## mrypg9 (Apr 26, 2008)

leothelion said:


> mrypg9 said:
> 
> 
> > many thanks for taking the time to write that info.
> ...


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## SteveHall (Oct 17, 2008)

Thanks for that information. It is exactly opposite of what the solicitor said - or to be fair, what I understood her to have said. 

She advised that debts were NOT recorded out of country. Yes, I am aware that IJ etc are international are international. (We use them in Spain and UK) My understanding was that the information was recorded separately. Let me get clarification on Monday. 

Mmm, interesting one.


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## leothelion (Apr 12, 2008)

SteveHall said:


> Thanks for that information. It is exactly opposite of what the solicitor said - or to be fair, what I understood her to have said.
> 
> She advised that debts were NOT recorded out of country. Yes, I am aware that IJ etc are international are international. (We use them in Spain and UK) My understanding was that the information was recorded separately. Let me get clarification on Monday.
> 
> Mmm, interesting one.


thanks steve i await your solicitors word on the matter.


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## mrypg9 (Apr 26, 2008)

SteveHall said:


> Thanks for that information. It is exactly opposite of what the solicitor said - or to be fair, what I understood her to have said.
> 
> She advised that debts were NOT recorded out of country. Yes, I am aware that IJ etc are international are international. (We use them in Spain and UK) My understanding was that the information was recorded separately. Let me get clarification on Monday.
> 
> Mmm, interesting one.


I think it depends on the country in question. For example: I have recently opened bank accounts in Canada, the Czech Republic and Spain. In all these cases all I had to do was show a passport and proof of address and the account was opened on the same day. No credit reference required.
By contrast when I applied for an account with a UK offshore bank I had to supply six months' statements from one of my existing banks, proof of origin of income, certified copy of passport, proof of address, where the money I was opening the account with had been earned or otherwise gained and had to complete an application form which asked many detailed and personal questions.
Some UK banks do seek credit references before you can open an account, RBS for one.
What with money-laundering for various purposes -crime, terrorism -on a global scale I would be amazed if most UK banks and lenders generally didn't require proof of all-round status. I was surprised that it was so easy in those three countries.
Oversight of financial transactions is incredibly sophisticated these days. HRMC can gain access to credit card records to ascertain whether UK nationals claiming residence outside the UK are in fact living abroad. If you used your Amex in Birminham or Barnstaple for nine months of the year but were claiming you were resident in Spain....you'd be found out!!


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## griz616 (Sep 9, 2008)

leothelion said:


> can anybody help here, if somebody has a villa in spain is still resident in the uk, and is falling behind with the mortgage payments in spain, if they were to throw in the keys of the spanish property would that affect their credit rating in the uk.


that depends on what referances, you gave to get the spanish mortgage. where abouts are you, what sort of money do you owe. there are ways out, depending on cicumstances. send me a private message. griz


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