Thanks Nigel. I have a Euro mortgage but my payments doubled after I came off the interest only and now even with my apartments rented I add in €600 a month. With void periods Ive been subsidising by £10k a year and now have no more savings. With no sign of title deeds or an increasing market and my job position its unsustainable.Nigel Howarth wrote:Hi Richard,
I don't believe there are any differences here between the ways different banks handle defaulters - but some, I guess, will be more amenable to negotiation than others.
I published an article a couple of years ago on how to go about dealing with this problem - see http://www.news.cyprus-property-buyers. ... /id=001361
Do you have a €uro or Swiss Franc mortgage?
Asked about different banks as Alpha seem more aggressive than Laiki Marfin who have tried to help in the past by giving me an extra year interest only (although they are totally unreliable in responding to calls and email).
I wanted to see if you or anyone else had any knowledge or experience of defaulting specifcally with Laiki Marfin.
I think we should start to share information about how the different banks treat defaulters (in fact Nigel can you please start a new thread on this topic?- I cant see how to do it myself)