Borrowing against my piece of land in Nicosia, I live in London

[elenakp]

Hello,
I’m returning to this wonderful forum after many years away.
I have a piece of land in Cyprus that I’m finding a bit challenging to sell because there’s no road access. I was wondering whether anybody would know whether it’s possible to borrow against this land. I live in the UK.
Thanks

[Nigel Howarth]

Hi Elena and welcome back to the forum.

Assuming the Title Deed to the land is registered in your name, yes - you can use it as collateral for a loan from a Cyprus-based bank.

I very much doubt that a UK bank would offer you a loan as it would be unable/find it very difficult & expensive to repossess the land if you failed to maintain your loan repayments.

Regards,

[Pantheman]

Borrowing against a parcel of land will depend on a number of factors. Theoretically you can, but will the bank lend you against it.

Is it residential? Agricultural? Zoning, money to build? The bank will want you know why you want the loan.

Just some things to think about

I would suspect that given the amount of agricultural land the banks have on their books, they may not be interested to take anymore!

Best of luck all the same.