EU Property Solutions, the foreign property debt experts, have issued advice to any expats who have found that their dream home abroad has turned into more of a nightmare. Spiraling negative equity and increased mortgage repayments have left many Britons unable to sell up and come back to the UK.
“We’re absolutely dedicated to making sure UK homeowners can find their way back home,” said James Bell, Managing Director of EU Property Solutions. “It can be a difficult step to move away, but an even harder step to return home to the UK when life abroad hasn’t worked out.”
EU Property Solutions encourage those expats thinking of returning to seek out advice or take action on their property debt before buying tickets. Often, foreign lenders can pursue property debt through the UK courts, and can even lay claim to UK assets such as houses and cars.
They advise anyone planning to return to take free, impartial advice from professional firms used to dealing with these kinds of issues, as well as making sure any UK finances are in order. Budgeting is also important, as the cost of living in the UK is very different to costs in living in other countries.
EU Property Solutions recognise it can be as difficult an adjustment moving back to the UK as it was moving away. They recommend speaking to friends and family about options and as a way to soften their re-entry into the country.
“The dream for many is to ultimately settle down in a place where they’re happy,” added James Bell. “That may have been Greece or Spain in 2007, but as people get older and maybe start to reconsider what’s important, it could be the UK in 2017.”
EU Property Solutions is committed to finding solutions for anyone who is having trouble with negative equity or debt on their foreign property. To find out more, just visit www.eupropertysolutions.com and contact them online.