Mortgage Problems

There can be all sorts of different reasons why you may wish to take out a mortgage when buying a property abroad. Your funds could be tied up in another venture and taking out a mortgage may allow you to buy now rather than later or even keep your funds working elsewhere.

Unfortunately many people who previously took out mortgages in order to buy property abroad are now experiencing problems servicing the repayments to the lending bank.

Personal circumstances may have changed, the loss of a job for example or perhaps a reliance on rental income which has not materialized are some of the factors that can impact upon the ability to maintain a mortgage.

Individuals who may have been given bad advice in relation to which currency a mortgage should be taken in have also seen huge fluctuations in exchange rates which in extreme cases has resulted in them now owing more to the bank than they originally borrowed. This is particularly relevant to Cyprus and loans taken out in the Swiss Franc denomination.


Courts in Spain get tough on Foreign Currency Mortgages

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

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...

European Enforcement Orders

The introduction of European Enforcement Orders in 2005 was designed to speed up the enforcement of certain judgements and to keep costs down. Effectively they made a judgement obtained in any member state within Europe instantly enforceable in another...

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

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.

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...
  • Page 2 of 5