Just when we thought that Nykredit in Marbella, along with its mammoth parent Danish company (Nykredit Realkredit A/S), could not stoop any lower on how abhorrently they deal with customers, new events have proved us wrong.

This is the story: 3 families who are having their properties foreclosed on by Nykredit and are about to lose their homes –as a result of being sold an illegal `Spanish Equity Release Package` offered in conjunction with unregulated Sydbank- have just recently received letters from the main Denmark office urging them to make instalment payments to become “core customers” again and have their mortgages reinstated.

Placing due reliance on the representations made on the letters, customers have gone along and paid the sums requested on the letters.

The letters are true and real but have a catch: Nykredit says that they were sent by error and that they are not valid. Still, Nykredit keeps the money and continues with the forced sale.

In this case, foreclosure proceedings commenced back in May 2014 and the letters have been received end of 2016 and beginning of 2017. Incredibly, Nykredit stands by their comments and says it is a computer generated error which means the letters are not valid in law.

If we were to draw a parallel, Spanish banks have not even come close to this level of deceit. It is now time for the authorities to seriously contemplate revoking Nykredit’s authorization to operate in Spain.

Letters will be posted here shortly.