Busy Bees Estate Agents for Villas-Apartments-Property and Land sales in North Cyprus
Please use the back button on your browser to return to your last page.
FINANCING YOUR PURCHASE OF PROPERTY OR LAND IN NORTH CYPRUS
Many developers offer staged payments plans for those making an off plan investment.
This not only allows you to spread the payments over the period of construction but
also provides an extra incentive for the developer to keep to agreed schedules. It
is important that your solicitor has recorded details of such an arrangement in the
contract of sale. Other variations of payment plans may be available and you should
always seek the advice of your solicitor before signing as with any such transaction.
Cash purchases are obviously an option but once again make sure that your solicitor
has sanctioned any payments before they are made. Apart from possibly a small holding
deposit to secure a property, all payments should be made through your solicitor
to ensure that they are properly recorded and receipted. It is normally possible
to pay using most leading currencies such as pound sterling or euros.
Bank transfers are another method of paying for your purchase and again it is wise
practice to make these payments via your solicitor’s account rather than direct to
an agent or to the vendor. As with any international transfer there is likely to
be a charge for this. Check this with your bank.
LOANS AND MORTGAGES
In the event that it is necessary or desirable to raise finance to complete a purchase
in North Cyprus, Busy Bees Estate Agents can assist by offering our clients the services
of a professional U.K. based finance company and mortgage broker who has experience
in the North Cyprus property market. Subject to status, it is quite often possible
to arrange re-mortgage of U.K. properties in order to fund a purchase here in the
TRNC. If you wish to explore the possibilities then please use our information request
form quoting BB Finance and we will arrange for an adviser to contact you. There
is no obligation involved in seeking information on this service.
Click here to go to the Guide to procedures and taxes pages