Can Cyprus banks chase for property payment in northern ireland

by marian
(belfast)

We have properties not finished in Cyprus - why should we be paying?

Comments for Can Cyprus banks chase for property payment in northern ireland

Dec 10, 2010

Property off plan in Cyprus
by: Helen

I assume when you say your property is not finished you bought off plan? I'm no lawyer but there is a long thread on my site about property repossession and banks chasing foreigners for payment.

You basically took out a contract to buy a property in Cyprus. If you did things properly you should only be making stage payments ie. paying in stages as and when each section of the property is finished.

If you now can't or don't want to pay for the property, then yes in principal, the banks will chase you for the debt. Why wouldn't they, just because you decide you don't want it anymore?

Circumstances change for everyone, but you should talk with a lawyer to explore your options.

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