Mortgage/Remortgage

[sexpot]

Hello. I have a 5 bedroom villa between Polis & Lysos, fully paid for-in the last few months I have contacted Alpha Bank to see if they would use the house as security on a loan, or perhaps a remortgage, but they said they no longer do this. I do not live in Cyprus, so it is difficult to find other sources of finance-I realise it has been/is a torrid time, but surely there must be other avenues or sources of funding ?

[Nigel Howarth]

Hello sexpot and welcome to the forum.

Assuming the property is registered in your name (i.e. you have its Title Deeds) you should be able to use it as security for a loan. But the banks have little money to lend and hence the difficulties.

It may be worth approaching a broker/advisor to see if they can assist. I know of one in Paralimni that may be able to help - see http://www.essentialconsultantcy.com/

Regards,

[sexpot]

Thank you !

[sexpot]

PS I thought I might get an email saying I had a message from the Forum, otherwise I would have responded earlier. Nick

[Nigel Howarth]

Hi Nick,

If you would like to be alerted by email when a reply is posted, you should click on 'Subscribe topic' at the top of the topic.

Regards,