I am 64 years old and retired. In 2004 my wife and I bought an apartment with the intention of selling it again in a few years for a profit. (Don’t laugh) We bought for 350,000 euro with a mortgage of 250,000 and cash of 100,000. My understanding at the time was that the apartment was (the only) collateral on the loan. Now, due to pressure from the bank to pay back the mortgage, I have placed the property on the market. We have been offered 200,000 euro for it. If I accept the offer, I will lose my own investment and we will still owe the bank 50,000. My solicitor tells me that the loan is “unsubordinated” which he says means that the bank can sue me for the 50,000. I always thought that, as the apartment was the collateral on the loan, I could simply hand the keys to the bank and walk away, but apparently not. Is this true? Do we have a case in law against our solicitor? Should we wait another year or two in the hope that the market recovers?