Financing
your villa purchase in Cyprus must be a priority when deciding
to buy a property for sale. Whether you are paying for your
apartment or villa in cash or taking out a mortgage we can
advise you on the pros and cons of the various options. You
will need to consider questions like:
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Can I get a mortgage for property in Cyprus?
(yes- up to 60% of the value) |
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What are the Capital Gains Tax implications? |
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What are completion costs and how much
are they likely to be? |
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Will the income from letting my villa pay for the mortgage? |
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Will I need to open a bank account in Cyprus? |
We will guide you through all stages of organising your mortgage and
finance.
'I haven't got much money in my bank account for a deposit'
Not many people do - but what you can do is to look for other
ways to raise the money, a very common practice in this age
of multiple home ownership. One common method is to release
capital tied up in your own house, which may well have appreciated
since you first took out your mortgage. By increasing the
mortgage on your own house you can release the capital needed
for the deposit on a second home. Another option is to buy
the villa with another friend or family, sharing the cost
of the deposit. Whichever method you choose, it is important
that you don't overstretch yourself financially and consider
the process carefully. Many people can make it happen with
a little imagination.
If you have questions about financing property purchase in
Cyprus contact us and we can give you good advice.
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