Power of Attorney

[Penelle1]

My husband and I signed a contract to buy an off plan apartment in 2006 which is still not completed. We signed a Power of Attorney and our solicitor in Cyprus signed the mortgage agreement on our behalf. We did not receive a copy of the mortgage terms in advance and have only recently had sight of this. Nor did we receive any advice about the risks of taking out a mortgage in another currency. Like many people the cost of our mortgage ( in Swiss francs) has increased hugely and the property is unsellable. Almost all of the mortgage money has been drawn down by the developer. We have read Nigel Howarth's article which mentions that a Power of Attorney should be notarised to be valid. We signed our PA in England and we were specifically told (in an email) by our Cypriot solicitor that it did not need to be notarised. Is our mortgage enforceable against us if we decide to default on payments?
Any advice gratefully received.
Penelle

[Nigel Howarth]

Hi Penelle

Unfortunately, Louise is a busy lady and rarely gets to visit the forum these days. I suggest that you contact her direct via her website at http://www.zambartaslawoffices.com/

Your signature on a Power of Attorney document should have been witnessed in the presence of a Certifying Officer.

But (presumably) you were content for the arrangement to stand when you signed up to it four years ago - and you have benefited from the arrangement inasmuch that it enabled you to purchase the property and obtain a mortgage for that purpose.

Regards,