Regal Garden Development, Tersefanou

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Linsay
Posts: 1
Joined: 27 Nov 2014 01:04

Regal Garden Development, Tersefanou

Post by Linsay »

Hi, my name is Linsay. My ex husband & I bought an apartment at Regal Gardens, developed by G Hassappi & Sons in 2008. We were advised by Pelecanos solicitors in Larnaca to take a a CHF flexi loan with the Alpha Bank. We ran into difficulties with our business in England & in April 2010 I wrote to the bank asking for voluntary repossession. They offered me a 6th month grace period, where no repayments would be made, I wrote back, & said that our situation at home was not likely to improve, so we would prefer to have the apartment repossessed. In 2011 they wrote back & said that our request had been forwarded to the appropriate department. In November 2011 my ex husband left , & consequently we got divorced. I now live mainly on working tax family credit, propping up what little income I earn. Alpha Bank instructed Daniel Silvermans from Liverpool to start collecting the debt. They have given me until tomorrow to get in touch with them in regards to either paying the debt off with a discount, or restructuring a new loan in either euro or sterling. My ex husband & his new wife have sought advice, & although they will not tell me what they have offered Alpha Bank, they have said that they can pay off their half of the loan independently, as they are financially secure.
I can only offer £20 per month, as I already live on the bread line. Does anyone know if once I have made such an offer, can they still take my home in England to get back my half of the mortgage, as it is all I have left. We purchased the flat for 89,000 cypriot pounds, which then worked out at about 120,000 euro's. our combined debt is now around £162,000. Please can anyone help as soon as possible with any advice as I have to return an answer by tomorrow. I wish I had known about this sight a lot sooner, I didn't even know about the Swiss Franc scandal until last week, as with the divorce etc I have had too much going on in my life, & I thought our apartment was being repossessed.
Thank you to anyone who can offer advice,
Linsay
Nigel Howarth
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Re: Regal Garden Development, Tersefanou

Post by Nigel Howarth »

Hello Linsay and welcome to the forum.

You can safely ignore demands from Daniel Silvermans. But the Alpha Bank will be difficult to deal with.

I'm afraid there is a possibility that the Alpha Bank could take action against you - and this could lead to any judgement it obtains against you in Cyprus to be enforced in the UK - this could put your UK home at risk.

I suggest you visit your local Citizens Advice Bureau. They should have access to solicitors who can offer advice at a reduced cost as you're on family credit. You need to see what you can do to protect your UK assets.

Regards,
Nigel Howarth
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