Showing results for tags 'cyprus'.
Found 4 results
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Hi I have some relatives who own property in Cyprus, who now wish to dispose of it. They are not resident on the island anymore, and as I understand it property prices there are still depressed, but they are very eager to sell to assist with cashflow issues. Are there any reputable agencies dealing with selling real estate in Cyprus, which are competent at also marketing it to the British (and potentially, Russian) markets? -
Hi I'm new to the forum and the reason I am posting here is to seek advice regarding a rather large debt accumulated in Cyprus, which was originally taken out as a student loan. The debt in question is in the region of £40,000 and has already been restructured once, with an interest rate still being charged on it (close on 10%.) The loan is secured to my knowledge with a property, and the lender also insists on myself and the other two creditors (parents) taking out life insurance from a Cypriot insurer, which is very costly. What options are there available to me, as a British citizen, to deal with this debt (e.g. via a consolidation or the equivalent of an IVA), seeing as the bank is inflexible on payment reductions and I may be changing jobs in the near future, which will considerably reduce my income? I want to avoid bankruptcy due to the property tied to the loan and the fact that I work in the financial services sector, where it can be a kiss of death in terms of employment opportunities; I also believe it'd make renting property here harder? Any assistance on the topic would be appreciated. If it is of any help I am a British citizen but also possess Cypriot citizenship.
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I recently accepted an offer on my property in cyprus. We agreed the price and the purchaser placed 2000 euros with the sole agent as deposit . it was sold unfurnished,and the CASH purchaser needed to complete ASAP. I then instructed my solicitor, sold all my contents, and flew back to uk , giving power of attorney to my lawyer. I signed the contract 3 weeks ago. I don't no whether the purchaser signed after me, and I still need to complete. My lawyer informed me yesterday that the purchaser's solicitor as requested the purchaser wishes to reduce the price by 1000 euros and is detailed as 'REDUCED' offer. Because of the market down turn in cyprus, my lawyer as advised my to take up the new reduced offer. I don't want to do this. I feel ripped off. What protection is available to me, if the buyers pull out .please help
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http://www.guardian.co.uk/business/2013/mar/18/eurozone-crisis-cyprus-bailout-savers-markets#block-514731da95cb3037f5c82a1f The only reason banks function is because of trust, this decision is crazy people are going to lose trust in the system if this plan is enforced. It's basic theft. Time to buy gold and bury it in your garden? Only time will tell but if this gets enforced I'd be very wary about keeping savings in the bank.
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