mortgage

Legal questions answered by Cyprus property lawyer Louise Zambartas

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Joanne
Posts: 1
Joined: 14 Apr 2020 11:31

mortgage

Post by Joanne »

Hi Louise
My husband and I took out Swiss franc mortgage 2005 and was not advised etc but we did it and even though monthly payment doubled we tried to always pay sometimes late but we paid then a personal problem happened 18 mths ago and bank gave us six mths grace still not able to pay the cost of the mortgage and could not rent it out due to problem in the property this is now sorted out and could now rent it out and also have a an offer of mortgage in uk
They originally offered 25% reduction on huge bill bearing in mind we have paid out all these years so already paid for the property if the original terms met we still could not get the amount they required and could not rent out to cover so had no option to not pay I have been in contact with them to try and sort out paying off an agreement I am looking for what they offered 12 mths ago but told to legal team now what does this mean is the loan still accumulating and does this mean they will not negotiate now ?
Nigel Howarth
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Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
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Re: mortgage

Post by Nigel Howarth »

Hi Joanne and welcome to the forum

Louise rarely visits these days and I suggest that you contact her directly via the Zambartas law office.

I suspect that during the six-month grace period, the interest on your loan would have continued to be added to the outstanding balance.

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
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