LEGAL & FINANCIAL:. Banking in Cyprus :. Duty Free Privileges :. Mortgage in Cyprus :. Property Registration :. Taxation :. Title Deeds |
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LongBeach.com.cy » Legal & Financial » Mortgage in CyprusMortgage in Cyprus |
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Banks in Cyprus will not take into account any proposed rental income from the property that you wish to buy. There are no non-status/ self-certification mortgage facilities available in Cyprus, however renting out your property is permitted, therefore all loans need to be supported by a minimum of, proof of income. If you are employed, you will need to produce, your last three months payslips, P60/employers reference and your last 6 months Personal bank statements. If you are self-employed you will need copies of your audited accounts together with you last 12 months business, and 6 months personal bank statements.Unless you are very experienced in purchasing abroad, it is very important that you seek some sort of legal advice before signing the contract for a property or paying a deposit. Legal advice may be costly, so ensure that you receive a complete quote, incorporating all costs, before applying for a loan. A Cypriot bank account will be required. It is advisable that a life assurance policy is set up on all mortgages. 
Due to the Cypriot legal and administrative system, there may be slight delays on securing your loan, despite the fact that all reasonable steps will be taken to avoid this. So be prepared. Long Beach Property Developers Telephone: +357 24 82 40 24 |
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