Cyprus Property Forum for Buyers, Sellers & Investors

Could anybody tell me if the bank of cyprus is acting within the law. Last september while holidaying in cyprus in our home, we were phoned 3 hours before leaving and asked if we could drop into the branch before we left. on arrival we were ushered into the managers office and told that the bank had made a miss calculation to our repayments,and we had to make a payment of 15000 euros, yes fifteen thousand, they told us if we did not pay they would start proceedings to reposses our home. we were in total shock, we thought that we did not have a leg to stand on, we paid 5000 euros there and then and agreed to pay the rest in april 2011. but im starting to think ive been railroaded, our mortgage offer was in writing, but they made a mistake on the repayment calculation. can they make me pay this back?

You should not have paid, but calmly said, I need to speak to my lawyer first.

let them take proceedings, takes forever to come to court, by which time you would have had a legal eagle check your paperwork. If indeed you had to pay then so be it, but you may have escaped it by their mistake.

Never be too quick to pay for others mistakes, always check it out first, whatever legal threats they throw at you.

I mean come on, what judge would see their side, as far as you were concerned you were following the 'agreed' contract, it was their *uck up let them pay!

Good luck though.

Hi samymou

Follow Pan's advice - do not pay - speak to your lawyer and get him/her to check your mortgage agreement.

Regards,