Blog | March 19th

FUENGIROLA COURT DECLARES NYKREDIT’s MORTGAGE NULL AND VOID while CHRISTEL MARK HANSEN, branch manager and witness, gives masterclass in lying under oath.

Court of First Instance 1 in Fuengirola has declared an Equity Release mortgage loan valued at €1.4 million null and void.

According to the ruling, Nykredit Realkredit A/S (largest lender in Denmark) and Sydbank (Investment bank) teamed up to create the Spanish Equity Release Package (SERP), a complex financial product designed to reduce the value of Spanish properties by registering a mortgage loan against them and intended, based on generous and explicit advertising, to mitigate or reduce Spanish inheritance tax.

Of the Nykredit loan only a small sum was given to the property owner/borrower whereas the rest, the larger part of it,…

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