Cyprus Property Forum for Buyers, Sellers & Investors

Hi,

We are British resident in Dubai & are looking to purchase a property in Paphos. We would like to partially finance the property though a loan/mortgage. Property value 230-300k with a deposit of no more than 50%

We do not have a UK property to 'release capital/remortgage'.

Do we only have an option to buy a property in cash or can we get a mortgage?
Thanks in advance,

Caro

Hi Caro and welcome to the forum.

I'm afraid Brexit has scuppered your chances of getting a loan from a Cypriot bank to help fund the purchase of a property.

I published an article in January - Buying property in Cyprus and visiting post Brexit. All the money to purchase a property must come from abroad.

Regards,

Nigel Howarth wrote: ↑03 Jun 2021 08:34 Hi Caro and welcome to the forum.

I'm afraid Brexit has scuppered your chances of getting a loan from a Cypriot bank to help fund the purchase of a property.

I published an article in January - Buying property in Cyprus and visiting post Brexit. All the money to purchase a property must come from abroad.

Regards,

Nigel,

the non mortgage policy I believe is specifically from BoC. I understand that Hellenic bank and Astro bank will give, especially if you have a 50% deposit. You only issue will be residency due to Brexit, you have to fulfil certain criteria for permanent stay.

Of course any loan would also be subject to your incomes.

Thanks Pan

Let's hope it's only the BoC.

Cheers,