Home improvement loans in Cyprus??
Posted: 07 Dec 2011 22:26
Hello Mark,
I wondered if you would be able to inform me of the ins and outs of secured ( on the property with title deed) home improvement/personal loans in Cyprus for non residents. It would be for an inherited central Nicosia app/office in a very in demand location with title deeds. I am planning on either renting out or selling the property. Agents have quoted me 400K euros sale and 14-20K per annum rent depending on if it was rented as an office or flat. The office would cost more to renovate.
The renovation/decoration cost and removal of things in the flat would cost a minimum of 15K euros . The problem is that I am a freelance in the arts ,and although work, have not had a pay cheque for just over a year. Hopefully I will be starting a new project in Feb 2012 which will keep me gainfully employed for at least 5 months.
Will getting a secured loan in Cyprus be hard for me. I have had 2 Cyprus bank accounts but the balances are both very low.
Thankyou in advance
I wondered if you would be able to inform me of the ins and outs of secured ( on the property with title deed) home improvement/personal loans in Cyprus for non residents. It would be for an inherited central Nicosia app/office in a very in demand location with title deeds. I am planning on either renting out or selling the property. Agents have quoted me 400K euros sale and 14-20K per annum rent depending on if it was rented as an office or flat. The office would cost more to renovate.
The renovation/decoration cost and removal of things in the flat would cost a minimum of 15K euros . The problem is that I am a freelance in the arts ,and although work, have not had a pay cheque for just over a year. Hopefully I will be starting a new project in Feb 2012 which will keep me gainfully employed for at least 5 months.
Will getting a secured loan in Cyprus be hard for me. I have had 2 Cyprus bank accounts but the balances are both very low.
Thankyou in advance