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Author Topic: Equity Release in Spain  (Read 2148 times)
RedEyes
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« on: May 10, 2017, 14:22:20 PM »

A friend asked me about equity release schemes in Spain.  Personally, I know virtually nothing about the subject, other than the fact that there have been some incredibly fraudulent 'oportunities' offered and that a lot of money has been lost by those who can least afford to lose it.

My own advice would be to walk away from the whole idea, but I thought it might be worth asking here if anyone has any personal experience?
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« on: May 10, 2017, 14:22:20 PM »

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Amanda Oakley
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« Reply #1 on: May 10, 2017, 21:01:34 PM »

 Hi

I am not aware of Spanish Banks offering Equity release but, have dealt with 3 clients who took out this type of loan in Spain via Manchester Building Society (arranged locally some years back - not sure who the "intermediary" was).
In these cases, I have seen property owners left with NOTHING and would strongly advise against this type of loan on a Spanish property.......... Look at every other posible option first.

Regards
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Amanda Oakley
ALO Services (Zurgena)
Conveyancing and General Legal Services
info@aloservices.es
Tel 950 449179 / 667 994682
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« Reply #1 on: May 10, 2017, 21:01:34 PM »

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RedEyes
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« Reply #2 on: May 11, 2017, 09:23:57 AM »

Thanks Amanda.  This supports my gut feeling about such schemes and I'll pass your comment on.
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« Reply #2 on: May 11, 2017, 09:23:57 AM »

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