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Buying a property on The Costa Del Sol - Why choose Nerja?

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Whilst in the area I caught up with Johan Eckerrvik a local estate agent in Nerja about what current market. Nerja like many towns along this beautiful stretch of coastline started out as a small fishing and agricultural village. Boasting some of the most...

2019 set to be a year of debt recovery in relation to Spanish Mortgages

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2019 is set to be a difficult year for Spanish property owners who are not up to date with their Spanish mortages. The banks there have started to offload their non performing loans to debt collectors who will invariably start to chase up these loans. We...

The New Auction Law - Cyprus Property Owners

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IMPORTANT UPDATE FOR CYPRUS PROPERTY OWNERS Auction Law or CHF MORTGAGED PROPERTIES Amendment Act 87 (I) / 2018 - The Transfer and Mortgage of Immovable Properties Law of 1965 (9/1965) The procedure for the sale of a mortgaged property is governed by Part...

Tax on Mortgages in Spain - Update

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The situation with the tax that needs to be paid for new mortgage registrations has been clarified with the President of the Government, Pedro Sanchez, announcing measures to make banks, not borrowers pay the tax associated with a mortgage. Clarity The...

Confusion in Spain over mortgage taxes

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A recent Court case in Spain has both clarified and caused confusion over who should pay the taxes associated with taking out a mortgage to buy a property. The Judgement issued by the Supreme Court ruled that it was the Banks - and not the borrowers - who...

Insurance and Specific Risk policies on foreign properties

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Unless you have bought property in the USA you may not have heard of Title Insurance. Title insurance is, in effect, an indemnity insurance policy which protects against financial loss as a result of defects in the title to the property. It is not a...

Courts in Spain get tough on Foreign Currency Mortgages

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Recent Court decisions in Spain have highlighted the fact that foreign currency mortgage problems are not limited to jurisdictions such as Cyprus where largescale problems have been incurred by borrowers in the Swiss Franc denomination and are currently...

Cyprus Banks Continue To Issue Proceedings Against UK Buyers

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In recent weeks we have again seen an increase in the activities of the Cyprus Banks against UK buyers of Cyprus properties, as they continue to serve Writs of Summons on clients at their UK residences for defaulting on their obligations against Loan...

Brexit - will that stop a foreign Bank pursuing me in the UK

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This is a question that is becoming ever more relevant as thousands of individuals who have previously bought foreign property now find themselves unable – or unwilling – to meet the seemingly ever increasing costs associated with their overseas...

Renegotiating Swiss Franc Mortgages in Cyprus.

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If you have an existing Housing Loan in Cyprus in the Swiss Franc denomination (CHF) taken out for the purchase of an immoveable property in Cyprus, you may now be looking, or being encouraged by the bank in Cyprus, to renegotiate the terms of the Loan to...

European Wills

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You have bought your property abroad and are now looking forward to using it. You intend to either use it yourself as a holiday home, as a retirement home or you are going to rent it out for some sort of income. It might even be that you intend to move...

Spain publishes the requirements to make a claim for Floor Clauses in Spanish Mortgages

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On Saturday 21 st  January the requirements to make claims under Mortgage Floor Clauses in Spain were published in the official Bulletin of the State in Spain. Floor Clauses are clauses in mortgage agreements whereby if the interbank interest rate...

Swiss Franc Mortgages in Cyprus: The Success Stories

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“The Swiss Franc mortgage taken out to fund our investment in Cyprus some years ago has become a nightmare”. “It is an issue causing us huge distress and anxiety as it has become an imminent threat to our assets in the UK”. Does this...

Interim court order issued by District Court of Nicosia, Cyprus

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The Nicosia District Court recently granted an interim order for the freezing of a borrower’s installments in Swiss Francs (CHF). The lawsuit was filed by a borrower and a guarantor and concerned a loan which was granted back in 2007, the installments...

How should one act when served with documents related to Cyprus Courts?

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The above is a question that more often than not begs for an answer. It has become a frequent occasion for non-Cypriots (mainly U.K. citizens) to be served with documents issued out of the Registry of a Court in Cyprus. Should one ignore them or should he or...

Powers of Attorney

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When a legal issue is encountered in a foreign jurisdiction, you will often hear talk of a Power of Attorney. In reality this is nothing to be afraid of. A Power of Attorney is simply a document which grants the ability to somebody else to do something on...

Foreign & Commonwealth Office Legalisation

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Often when dealing with a legal issue abroad it will be necessary to get a document “legalised” for a specific legal purpose. This may sound like a rather complicated legal procedure but is actually quite a simple and easily understood process. ...

Can We Help

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Judicare is very often contacted by people who have found themselves involved in Court  proceedings in Cyprus – whether as Plaintiffs or Defendants – asking whether we can find out at what  stage these Court proceedings are. If these...

Swiss Franc Mortgage problems in Cyprus & the issue of Jurisdiction

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Swiss Franc Mortgage problems in Cyprus & the issue of Jurisdiction -------------------------------------- 1. In the last few weeks the issue of jurisdiction i.e. in which Court the purchasers of immovable property in Cyprus must pursue their rights has...

An important decision of the Supreme Court of Cyprus

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Τhe Supreme Court of Cyprus issued a very important judgement on the 23/12/2015 in relation to the validity of Powers of Attorney used, among others, in transactions relating to the purchase of immovable properties in Cyprus. A Power of Attorney, in...

Swiss Franc Loan deadline in Cyprus Limitations Law (66(1)2012)

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As the deadline of 31st December 2015 approaches, clients of immovable properties in Cyprus are faced again with confusion surrounding the implementation of the Limitations Law in Cyprus and with the questions of how and under what circumstances is the Law...

Cyprus Seminars Update

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As we approach the seminars being held at Birmingham City FC (Saturday 24th October) and Arsenal FC (Sunday 25th October) there have been some notable recent changes to legislation in Cyprus. Changes to the laws surrounding how and under what conditions...

Free Cyprus Seminar

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Birmingham City Football Club and Arsenal Football Club will again be the venues for the latest free seminars given by Judicare and their Cyprus Barristers for any concerned purchasers of immovable property in Cyprus, particularly in relation to Loans taken...