obtainging mortgage discoount

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patprema
Posts: 1
Joined: 19 Feb 2018 12:32

obtainging mortgage discoount

Post by patprema » 19 Feb 2018 12:50

hello,

I have a mortgage with Alpha bank. in the past i tried to have a discount in the repayment. Now i have just heard from another property owner who has similar mortgage in same apartment block and same bank, that he got a discount of 30% on the mortgage and will repay it before end of month.He did not explain his strategy to get it, just said it has been a long process.So i will request the same from the bank but they will certainly say no. so my question is if i can get a legal action in that case arguing that another owner could get discount and there is no reason i would not get it as well.Any advice, suggestion etc.

thanks in advance,Patricia



Pantheman
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Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: obtainging mortgage discoount

Post by Pantheman » 19 Feb 2018 17:42

patprema wrote:
19 Feb 2018 12:50
hello,

I have a mortgage with Alpha bank. in the past i tried to have a discount in the repayment. Now i have just heard from another property owner who has similar mortgage in same apartment block and same bank, that he got a discount of 30% on the mortgage and will repay it before end of month.He did not explain his strategy to get it, just said it has been a long process.So i will request the same from the bank but they will certainly say no. so my question is if i can get a legal action in that case arguing that another owner could get discount and there is no reason i would not get it as well.Any advice, suggestion etc.

thanks in advance,Patricia
No such argument has any weight, there is no law that says they have to give you a mortgage, but if you are a regular payer of your mortgage, do not expect any help. If you become a non performing loan you have more of a chance to get some attention. It is possible your other owner has not been paying his mortgage for some considerable time!!

What action you take is entirely your decision, I have given you a scenario where banks helps those that don't pay.


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