As we continue to address the historic mortgage issues which face thousands of foreign property owners in the UK, we have in recent days successfully settled another French mortgage issue for one of our clients.
After many years of worry and anxiety for our client that the Bank in France would pursue her and the fear that she may one day lose her property
in Ireland as a result, we have now reached a full and final settlement of her legal obligations to her Bank in France and with it, we have successfully removed all threats to her future.
Case Study
This particular case involved the purchase of an off-plan leaseback property Fabregues in France back in 2007 and the taking out of a mortgage on the property with a French Bank. In this case, the Bank was Société Generale. The property was delivered in 2009, and the client paid the mortgage until 2017 when the mortgage, maintenance and local taxes simply became financially unmanageable for her.
Believing that the Bank in France would simply proceed and repossess the property in France, and this would bring her financial liabilities arising from the mortgage on the property in France to an end, the client received very limited communication from the Bank in France.
In early 2023 however the client received a legal demand notice from a firm of Solicitors in Ireland who were acting on behalf of the Bank in France. A further legal notice was also received shortly after from an international debt collection agency demanding the immediate repayment of the debt amount of just over €145,000.
After some anxious initial conversations with the client, we explained the nature of the alleged debt and that regrettably the legal demand(s) she had now received at her home address in Ireland should not be ignored. We received a formal instruction to handle the matter for the client.
After studying the documents provided to the client by the Bank in France in relation to the Claim, and studying all the mortgage documentation provided by the client, we were able to discover a failing in the process followed by the Bank.
Applying the relevant French case law, we established that the Claim against our client was without merit. Within a short period of time, we have been able to completely “strike out” the entire Claim against our client and the matter has now been concluded with the full debt of over €145,000 being written off.
With the legal settlement in place, the client can finally leave the matter behind her and can look forward to a future free from threats.
How can Judicare help?
We have been helping individuals to find the correct solution with regards to their problematic foreign mortgages since 2010. Over the years our team of experts have acquired the knowledge, skills, and experience in finding the optimum solutions for our clients. So, if you are facing problems with your foreign mortgage our specialist Solicitors can help you explore your options, including negotiating full and final settlements or variations to the mortgage debts.
Below are just some of the reasons why our clients instruct us:
- Our legal teams have decades of combined experience of handling Foreign Mortgage problems.
- We are regulated by the Solicitors Regulation Authority (SRA) and as such we carry professional Indemnity Insurance giving you vital protections and redress in the unlikely scenario something goes wrong.
- We have successfully negotiated over £45million of foreign Bank debt being written off for our clients.
- Using a Claims Management Company (CMC) or a so called “advisory firm” providing foreign property debt solutions across the EU can be risky, as there are no safeguards or any regulatory redress for clients if something goes wrong.
If you have received a letter from a foreign Bank, or have fears you may soon receive a letter, or would simply like more information on our fixed fee approach a member of our team will be happy to take your call on a confidential basis at 01438 840258 or via email to admin@judicaregroup.com
We can also arrange a free no obligation teleconference via Zoom/Skype.
Getting in touch will allow us to understand your individual circumstances and discuss with you your concerns and objectives. Working with you we can then decide upon the correct strategy to approach and find the solution which is right for you.