Any update on Stealth Mortgages?

ozankoys · Post by **ozankoys** » Wed 29 Apr 2015 1:54 pm

After the K5 victory it was thought that new legislation would be written in favour of innocent parties who had been burdened with mortgages on their properties without their knowlege.
Does anybody know if there have been any updates on this?

tomsteel · Post by **tomsteel** » Wed 29 Apr 2015 2:22 pm

Verdict now subject to appeal by the Bank involved.

ozankoys · Post by **ozankoys** » Wed 29 Apr 2015 2:39 pm

So that means another few years then. Does anyone know if the new Government have said this is one of their policies?

tomsteel · Post by **tomsteel** » Wed 29 Apr 2015 3:31 pm

What new government? There is a new (independent) President, who has little, if any, say on internal issues. Successive TRNC Governments have failed to address the property scam here, what gives you the confidence this, or the next, or the next et al administration will do so? Why would it do so?

ozankoys · Post by **ozankoys** » Wed 29 Apr 2015 3:49 pm

I do not have confidence at all but after several years of trying am on the verge of paying off the bank for such a mortgage at quite considerable expense. Sod's Law as soon as we do this the law will change & we will be very very very upset!!

tomsteel · Post by **tomsteel** » Wed 29 Apr 2015 4:15 pm

And if you do, despite your contractual legality, it will encourage other developers, bankers, builders to require innocent purchasers to have to do likewise.