Ypsonas old renovated house big problems

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Vonny
Posts: 2
Joined: 21 Jun 2020 14:58

Ypsonas old renovated house big problems

Post by Vonny » 28 Jun 2020 00:13

I feel really stupid writing this but dont know what else to do so any advice would be greatly appreciated. 2008 I bought an old village renovated house. Used a real estate agent. Used a lawyer (who was suggested by the agent i know mistake) paid a stupid price 98000 cyp pounds. Paid 45000 deposit and was given a 55000 loan over 23 yrs from the BOC. got my title deeds on the day of purchase from the land registry. Being English and a first time buyer trusted the system and thought i had followed correct procedures. Then i ran into problems and had to get reduced loans for 3 years. After that they said no more reduced loans your to old. I said well i will just pay what i can thats all i can do. The manager said yes pay but no money will be coming of your loan it will all be going in penalties. My daughter said well we not paying till you give us a solution. The NPL deptment have put 3 different applications in the last 18 months all to be denied by nicosia. 1 for her to guarantee the loan for 23 yrs. 2 for her to come on the mortgage for 23 yrs. 3 they offered her the house for a big discount 61000. She agreed to all these suggestions, has a good job and banked with them for 6 yrs. NOW!!!! For the more sickening part, they have just told us 6 weeks ago after all this trying an stress which has really affected my health. THE HOUSE IS WORTH NOTHING AND HAS NO PERMISSIONS OR PERMITS!!!!! they have valued it at less than the deposit i paid. I had a flood in 2011 an lost all my paperwork. I said to the bank how is it now you can do no restructuring without permits but you gave me a loan of 55000 cyp pounds without all this they just shrugged an said it was a long time ago. Lawyers said same. Land registry will say same. Mumicipality carnt find anything. Electric board can only find electric history from 2007 so how do i have electric. So yes even though im a resident an its my primary home and my children are cypriot and i thought id followed the correct procedures. Its not looking good and no money for exspensive legal procedures😢😢😢



Nigel Howarth
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Re: Ypsonas old renovated house big problems

Post by Nigel Howarth » 28 Jun 2020 10:58

Hi Vonny and welcome to the forum

You've certainly had your problems. I know it will be of little comfort to learn that you're not the only one.

I expect your old village house was built before there were any planning regulations/controls in Cyprus. Do you have any idea when it was built?

(I think the Streets & Building Law (CAP.96) was introduced in 1956, but I'm not certain.)

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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Vonny
Posts: 2
Joined: 21 Jun 2020 14:58

Re: Ypsonas old renovated house big problems

Post by Vonny » 28 Jun 2020 12:50

Hi nigel Thanks for your speedy reply, looked at my deeds and the previous owners deeds no mention of when the house was built. Think the last owner bought the property in 2002 other than that i dont know. No mention of planning permissions or renovations in the notes on the deeds. It does say its a preserved/listed property (which i think could incure more problems) my lawyer did mention at one point oh your lucky cause its a listed property and this can give you many little benefits. I was just about to leave his office before he noted that an i never really understood what he meant, but trusted he had done aĺl his du diligence on the property for me because he seemed so nice and proffeshional. After reading every single post on your forum i now realise just how nieve i was. This is one big tangled mess. And even with your amazing amount of knowlege its to much. What shocks me the most even after being In Cyprus for 30 yrs on and off. Is there seems nowhere to turn. THERE SEEMS TO BE NO CHAIN OF ACCOUNTABILITY !!!! The bank took my money and gave me a mortgage, and now demand paperwork after 12 yrs that they should have asked for before issuing a loan. The land registry let me pay an over inflated price for what must have a tiny old ruin. Why would i pay all these professionals to protect my interests and they are not accountable. Anyway thanks for your time your a very good person and help many people. I will update you at some point concerning this matter when i know more, just so your members can maybe learn from my problems and who knows maybe miracles do happen we shall see
Kind Regards



Nigel Howarth
Site Admin
Posts: 2513
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
Contact:

Re: Ypsonas old renovated house big problems

Post by Nigel Howarth » 28 Jun 2020 17:43

Hi Vonny

As it's a listed building there is a possibility that you could get the Property Transfer Fees you've paid. See ​Return of Transfer Fees.

If you send me the numbers on your Title Deed - the Title Registration number as shown below, which should look something like x/xxxx, I may be able to find further information on the Department of Lands & Survey website.

Image

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

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