Cypriot property as security
If you need finance to purchase a property in Cyprus , then mortgages.co.uk can help, we can give you the advantage of seeking advice from a team of licensed credit brokers, who have over 20 years experience in this field. Depending on your circumstances, you may be able to raise a repayment mortgage on the property in Cyprus .
Based on the valuation or purchase price (whichever is lower) of your Cypriot property, it is possible for you to take a loan for up to 70% of its value in all major currencies, for the purpose of purchasing a new property or re-mortgaging an existing one for home improvements (a re-mortgage for any other purpose will be looked into on a case by case basis).
The minimum loan that will be considered is £20,000 and the maximum is CYP 150,000 over a repayment period of no more than 30 years. This is available to individuals up to the age of 65 . Current interest rates as at 11 th July 2003 are from approx 2.00% + LIBOR.
The following example is based upon a repayment mortgage in sterling, and does not take into consideration the cost of a mortgage protection plan.
uploded by mortgages uk website