Expat mortgage
Posted: Sun 08 Apr 2018 6:53 am
Maybe i should have posted in the finance section but i thought this was worthwhile info for all . They have started to do expat mortgages according to a well known estate agent . I think its credit west as the terms match . The interest rate is 6 % which is very reasonable for cyprus . They will lend up to 65 % for uk people and eu citizens and 50 % for iran and russia . Thers a 1 % arrangement fee . Deeds need to be in place and they will lend on exchange as well as turkish title . Maximum ten year term .
Theres a lot of developers who offer mortgages but the rates are always higher and often i believe the prices bumped up as they have the buyers cornered . I can see lots of foreign buyers seeing this as a great opportunity to buy a home in the sun . North cyprus is still veey affordable compared to other destination and the accessibilty of credit for resale properties will bolster prices .
Theres a lot of developers who offer mortgages but the rates are always higher and often i believe the prices bumped up as they have the buyers cornered . I can see lots of foreign buyers seeing this as a great opportunity to buy a home in the sun . North cyprus is still veey affordable compared to other destination and the accessibilty of credit for resale properties will bolster prices .