Remortgaging

General questions & discussions on Cyprus property related matters
Post Reply
olljones
Posts: 3
Joined: 17 Jan 2018 19:47

Remortgaging

Post by olljones » 17 Jan 2018 20:03

I am after some advice please.
I and my ex partner purchased our property in Kapparis in 2011. we obtained a €63000 mortgage with the bank of Cyprus. In 2013 we separated and I continued to solely service the mortgage myself. This was with our mutual agreement and the bank was informed of this immediately. Since Oct 2013 I have been trying to remortgage so that the loan is in my name. The BOC stated that it was OK to do this. I had regular contact with the bank manager for the first year and then i started getting ignored. A new bank manager was appointed to deal with my remortgage and he continued to assure me that they were sorting it and that the decision for the remortgage was with the 'higher authority' !!
In August 2017 whilst in Cyprus i had an appointment with the bank manager who advised me that by the end of my two week holiday I would have all the paperwork to take back to the UK to sign. This never happened.
In November 2017, I got a call from the bank manager stating that the remortgage was now being authorised and I should get a call within days to confirm this..
To this date no one from the bank has contacted me and I cannot get hold of the manager or my 'personal banker'. Neither of them are replying back to my emails!! or calls!!
I feel like I have been fobbed off by the bank for the last two years with regards to sorting this out.
The title deeds have not been issued.
I have never defaulted on the mortgage payments and all payments are up to date.
An assignment agreement has been drawn up and checked by a solicitor.
All is good to go, except the bank continue to drag their feet.
Has anyone had any experience of anything similar?
And does anyone have details of any good mortgage providers other than BoC
Or any other suggestions of how to sort this.. IE - Would an agreement drawn up in the UK between both Parties, Me and my ex, be good enough and then keep the current mortgage running?



Pantheman
Posts: 550
Joined: 26 Jan 2008 14:44
Location: Famagusta District
Contact:

Re: Remortgaging

Post by Pantheman » 17 Jan 2018 21:06

You could just try sending a letter or email or calling stating that you will stop paying the mortgage until such time that the remortgage takes place. I think that might get them going as they DO NOT want another NPL.


For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
Registered and Licensed Real Estate Company Co. Reg. No. 795, Lic. No. 250/E
http://www.fsbproperties.com

olljones
Posts: 3
Joined: 17 Jan 2018 19:47

Re: Remortgaging

Post by olljones » 17 Jan 2018 22:26

It has been a consideration, but I I'm really wary of getting into threatening that I am not going to pay my mortgage....
If they just turned around and went OK! Id feel a bit daft.. And it goes against the grain of everything I stand for really :-/
It has crossed my mind that this is what they are hoping for and then the property is theirs !



Pantheman
Posts: 550
Joined: 26 Jan 2008 14:44
Location: Famagusta District
Contact:

Re: Remortgaging

Post by Pantheman » 18 Jan 2018 10:32

olljones wrote:
17 Jan 2018 22:26
It has been a consideration, but I I'm really wary of getting into threatening that I am not going to pay my mortgage....
If they just turned around and went OK! Id feel a bit daft.. And it goes against the grain of everything I stand for really :-/
It has crossed my mind that this is what they are hoping for and then the property is theirs !
I feel the same way about making payments, I have never missed one in my 40 years of borrowings, however, I have found from experience that if you are a 'good little boy' the bank will not help you and it is only when they foresee a problem will they get their act together. I have numerous clients that have only managed to get satisfaction by not paying compared to when they were.

Secondly, you are using this as ammunition, your case is you cannot afford to maintain payments when the mortgage is not solely yours and that you will be happy to recommence payment once changed.

Losing your property, give me a break, it'll take years to even get there and in between if you made a single payment the process returns to position 1.

You have nothing to lose other than a bit of pride, so what if it gets you what you want, play them at their own game.

Good luck all the same.


For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
Registered and Licensed Real Estate Company Co. Reg. No. 795, Lic. No. 250/E
http://www.fsbproperties.com

Post Reply