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NEGATIVE EQUITY CYPRUS PROPERTY - LOOKING FOR SOLUTION?

We offer a completely free, no obligation initial consultation

“A property is in negative equity if it’s worth less than the mortgage secured on it, and it’s normally caused by falling property prices.”

Cypriot property values declined greatly following the Global Financial Crisis of 2008.

Whilst property values have dipped issues regarding Cypriot Property Debt is far more complex thank just simple negative equity cases. Firstly, very few property owners will have deeds to their properties as Land Registry in the country does not operate efficiently and perhaps more importantly many borrowers were sold Mortgage Products in Swiss Francs.

The primary lender in Cyprus sold numerous buy to let mortgages to overseas investors in Swiss Francs. The issue here is that during the property decline values fell across Europe and the Swiss Franc currency retained its strength against other currency. Effectively this caused an increase in the mortgage coupled with a decline in value has led to many borrowers trapped in negative Equity.

EU Property Solutions have worked with Cypriot lenders who have issued Swiss Franc mortgages and saved clients significant sums. You can read a typical Cyprus Negative Equity case study by clicking here.

We have assisted borrowers in Paphos and the Larnaca region.

If you have a negative equity property in Cyprus call EU Property Solutions today on +44 330 124 1230.

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LET US HELP YOU TO MOVE ON WITH YOUR LIFE...

EU Property Solutions always offer any potential client a free initial consultation. This can be done face-to-face in one of our three office locations, via Skype, a conference call or via email. We typically ask for standard financial information when meeting as this allows us to give you the best advice tailored to your circumstances. We are not here to judge, but to assist those who find themselves in difficulty and provide solutions to navigate to better positions. Our fees are always made open and transparent from the outset and there are no hidden fees or costs.

Our team has a fantastic attitude and will take openly and frankly with all our clients with the sole aim of achieving the best possible outcome. Please contact us at EU Property Solutions today and we look forward to meeting you soon.

We offer a completely free, no obligation initial consultation

SUCCESSES

2019: Year of Spanish debt collection
January 11, 2019 | 0 Comments

Spanish banks have been making major moves lately to offload their non-performing loan books. This means 2019 will be a busy year for property debt collectors! If you have a Spanish mortgage, chances are you could be affected. Just before Christmas, Bankia announced that it has agreed the sale of €3.07bn in bad real estate…

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5 Biggest Mistakes When You Can’t Pay Your Foreign Mortgage
January 9, 2019 | 0 Comments

If you have a foreign mortgage that you are struggling to pay, don’t worry. Issues are easily solved when you approach them in the right way. Don’t make these common mistakes that can make your situation worse: 1. Hand Over the Keys Many borrowers simply stop paying their mortgage and leave the keys with the…

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DECLINE OF POLARIS WORLD AND COSTA BLANCA GOLF RESORTS – WE PROVIDE SOLUTIONS
September 5, 2018 | 0 Comments

The Costa Blanca has long been a popular hotspot for many people wanting to buy their dream holiday home. Over the years many have followed their dream purchasing either investment properties or as holiday homes for retirement futures. During the Spanish property boom pre-2008, many people purchased properties in this region. Our focus this week…

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RECLAIM IN SPAIN – YOUR LOST DEPOSIT
August 22, 2018 | 0 Comments

EU Property Solutions consistently have enquiries from clients with horror stories about lost deposits paid on developing dream homes in Spain that never materialised. An area of major concern has been the Costa Del Sol, where during the property boom between 2004-2007 off plan developments were abundant. HAVE YOU BEEN AFFECTED? If you lost money…

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DEBT WRITE OFF & UK ASSETS PROTECTED
August 18, 2018 | 0 Comments

We were contacted by a mature couple regarding a property in the well-known area of Playa Vera. This had been a holiday getaway home for them however it began to cause them undue stress and worry when the mortgage repayments increased to £700 per month. They were unable to continue with these repayments and felt…

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La Cala – 100% Debt write off
August 18, 2018 | 0 Comments

We were contacted by a couple who owned a property in the picturesque area of La Cala. They had advised us that the mortgage repayments had increased dramatically, and they were no longer able to keep up with these due to several financial pressures and the hike in repayments. To make matters worse, the outstanding…

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COMPLETE DEBT WRITE OFF FOR ELDERLY COUPLE
August 18, 2018 | 0 Comments

We were contacted by an elderly couple regarding a property in the popular area of Duquesa Village in the Costa Del Sol. This had been their dream holiday home however it started to cause them considerable stress when they began suffering with age related illnesses and found themselves in financial difficulty. With all the adding…

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Negative Equity are you feeling the heat?
August 14, 2018 | 0 Comments

  EU Property Solutions are aware of many developments on the Costa Del Sol that are in Negative Equity or have issues In regard to selling property. The Spanish property market suffered severely following the global financial crisis of 2008 with property values dropping significantly. This has become a major issue for foreign investors who…

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Your Foreign Mortgage: What Happens If You Don’t Pay?
August 8, 2018 | 0 Comments

  If you don’t pay your mortgage overseas it is likely to have the same consequences as if you didn’t pay your mortgage in your home country. Some with mortgage debt in Europe hope that it will not follow them to the UK or Ireland. However, this is incorrect, and the foreign lender can legally…

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Importance of Professional Advice
August 1, 2018 | 0 Comments

  With official figures released last year, millions are due to be paid out in Deposit reclaims. Since the news of this development circulated many ‘cowboy’ companies jumped on the proverbial bandwagon in an attempt to cash in. Offering supposedly expert advice and services in reclaiming lost deposits, many of those who were victims of…

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