Can anyone help me out with information about just how quickly the Spanish banks will repossess property if you fail to make your mortage payments? How many missed payments does it take for them to start this process?

I'm currently in the UK and won't be back in Spain for several months - have mailed my bank (La Caixa) but they haven't replied and there's no info regarding this on the mortgage section of their web site.

gee thanks i say so - you've really got me worried now! :scared: Anyone else out there with any more interesting input on spanish banking procedures. lol

i would have thought the best thing to do would be to ask your bank or lawyer who you dealt with when buying, they will put you straight

thanks dougie, I have emailed my bank but as yet they haven't replied...

still no reply from the bank! anyone else know anything about what happens if you fail to make your mortgage payments?

My understanding is that it is not a quick process and takes a few months (this is Spain after all!).

Try contacting a mortgage advisor out here to ask them, they should know the process.

I don't want to panic you but if I were you I would phone the bank directly and I would do it straight away. Don't worry if you don't speak Spanish as they will almost certainly speak English. If you are concerned about the cost of the call subscribe to Onetel first (www.onetel.co.uk) and it will only cost you 4p/minute. Spanish banks don't hang about when it comes to reposession (especially if the amount borrowed is greater than 50%). Your mail may not have been received by the bank and (presumably) you are risking a large investment on your part. We regularly call our Spanish bank up to midday UK time without any problem.

thanks, your advice is much appreciated! I'd already decided that they'd probably sent me snail mail...to the spanish house! I'll get on the case quickly.