We are seeing more and more clients being contacted in relation to an outstanding debt which exists as a result of a previous Spanish property purchase. The clients are receiving legal demands directly from their Bank in Spain directly, via a UK firm of Solicitors acting for the Bank in Spain, or via a third-party debt collection agency or Vulture Fund acting for the foreign Bank.
Typically, these clients had previously purchased a property in Spain and due to their changing personal circumstances, took the decision (and the chance) to walk away from their foreign property, believing their foreign lender would simply take back the property and not pursue them for any monies thereafter.
Read more here - I have received a letter from Axactor regarding a mortgage debt in Spain (judicaregroup.com)