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This mortgage calculator can be used to figure
out monthly payments of a home mortgage loan, based on the home's sale price,
the term of the loan desired, buyer's down payment percentage, and the loan's
interest rate.
These figures should only be used as a guide
and it is recommended that you contact your mortgage lender to confirm prices.
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Legal Advice
We strongly recommend that anyone who purchases property overseas takes
full independent Legal advice from a solicitor who has not interest with
any of the parties involved. The solicitor will deal with all aspects
of the purchase and can act in your absence (power of attorney) as your
representative. You may be able to obtain a Cypriot solicitor through
your own solicitor at home, or take recommendation from people who have
purchased already.
Land Registry
The Land Registry in Cyprus maintains an accurate and effective registry
of all immovable property and its transactions. When you buy, you also
purchase the freehold. This offers purchasers protection not offered in
many parts of Europe . Efficient, Reliable and Secure are all words used
to describe the Registry system. There is no limitation on the amount
of freehold property purchased by an EU National. However non-EU Nationals
are limited to 4000sqm. Companies can purchase property as long as it
is for the use of their employees.
When buying a home “off plan” or if the project is under
construction, or has just been completed, or is part of a much larger
complex you should allow between 3-4 years for the Title deeds to be issued
as documents. However the Land Registry will pass the title to you upon
submission of a duly stamped copy of the purchase agreement, the property
is then effectively blocked and the vendor cannot sell or transfer it
to anyone else. Your purchase is secure.
When buying a Resale property where the Title Deeds are already produced
to the existing owner, the procedure is that upon completion of purchase,
the Title Deeds are transferred into your name.
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