Suicide victim’s widow calls for justice
The widow of a British suicide victim is calling for institutions in the UK and
Cyprus to be brought to account in connection with the Cyprus property
mis-selling scandal that has devastated the lives of so many.
On Sunday 8th January 2017 Philip Davies tragically took his own life, only
hours after receiving notification that Alpha Bank had re-opened legal
proceedings in Cyprus for a Swiss Franc loan. Mr & Mrs Davies invested all
their... [Read More]
Cheers
Steve
Suicide victim’s widow calls for justice
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Steve - SJD
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Re: Suicide victim’s widow calls for justice
Utterly disgraceful, Cyprus should be hanging its head in shame. Sadly, it won't.
These mortgages reared their head about the time that I was buying my property, and I did seriously look into possibly taking out a small mortgage to ease my cash flow, but decided it was a risk too far on pension income, and thankfully weathered the short term problems. So glad I did and so so sorry for the people caught up in this mess.
These mortgages reared their head about the time that I was buying my property, and I did seriously look into possibly taking out a small mortgage to ease my cash flow, but decided it was a risk too far on pension income, and thankfully weathered the short term problems. So glad I did and so so sorry for the people caught up in this mess.
Re: Suicide victim’s widow calls for justice
Yes, this is tragic. It is a national disgrace what goes on in the world of real estate in Cyprus. It is definitely a case of buyer beware when buying or selling a property here. Foreigners in particular are often completely unaware of the situation here, but they need to do their research carefully before buying anything. Finding a good solicitor is key to this. Never ever use a developers in house solicitor is good advice.
Dee
Dee
Re: Suicide victim’s widow calls for justice
A very sad state of affairs which goes on not only in Cyprus but many other countries.
To many Banks, property developers & Solicitors only have one thing in mind & it's not the well being of their client.
To many Banks, property developers & Solicitors only have one thing in mind & it's not the well being of their client.
Re: Suicide victim’s widow calls for justice
Very sad indeed
The whole CHF mortgage set up was extremely dodgy and the Cypriot regulators failed miserably in implementing consumer protection law and sensible banking procedures. When developers , lawyers, banks and their friends in government and judiciary are in cahoots to this extent then it was only to be expected
A lot of people were indeed duped, a lot did know the risks and took a speculative pun because if things had worked out as “expected” they stood to make a fortune , but the whole thing has led to a massive problem in for Cyprus that will take years to resolve and of course a tragic event as reported here.
Cyprus has done the minimum required to clean up the property market in the interim and there is still an unhealthy relationship between lawyers, banks and developers. Cyprus was recently fined for not incorporating EU directives into national law, but even if it does incorporate them it does not apply them, and the EU does very little to protect people once the latter takes place.
My sympathies to family of Mr Davies
The whole CHF mortgage set up was extremely dodgy and the Cypriot regulators failed miserably in implementing consumer protection law and sensible banking procedures. When developers , lawyers, banks and their friends in government and judiciary are in cahoots to this extent then it was only to be expected
A lot of people were indeed duped, a lot did know the risks and took a speculative pun because if things had worked out as “expected” they stood to make a fortune , but the whole thing has led to a massive problem in for Cyprus that will take years to resolve and of course a tragic event as reported here.
Cyprus has done the minimum required to clean up the property market in the interim and there is still an unhealthy relationship between lawyers, banks and developers. Cyprus was recently fined for not incorporating EU directives into national law, but even if it does incorporate them it does not apply them, and the EU does very little to protect people once the latter takes place.
My sympathies to family of Mr Davies
Re: Suicide victim’s widow calls for justice
This sort of thing makes we wonder why anyone ever thought this was a paradise place to live. Corruption is too small a word for these scummy developers, banks and lawyers. We had a house and an apartment and count our blessings that we did not need a mortgage for either and got our deeds for both properties - different developers - with no hassles.
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cyprusgrump
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Re: Suicide victim’s widow calls for justice
And thousands of others had the same experience...outasite wrote: ↑Fri Jan 20, 2017 3:49 pm This sort of thing makes we wonder why anyone ever thought this was a paradise place to live. Corruption is too small a word for these scummy developers, banks and lawyers. We had a house and an apartment and count our blessings that we did not need a mortgage for either and got our deeds for both properties - different developers - with no hassles.
Not really fair to condemn the whole system when you yourself have had a pain-free experience is it...?
Re: Suicide victim’s widow calls for justice
There are plenty decent builders and developers in Cyprus that don't abuse the law to their advantage and there are lawyers that will put your interests first
I love it here and have no qualms about recommending it to anyone, but it is a case of buyer beware. The safeguards you would expect are either not in place or not enforced
I love it here and have no qualms about recommending it to anyone, but it is a case of buyer beware. The safeguards you would expect are either not in place or not enforced
Re: Suicide victim’s widow calls for justice
Definitely, Buyer Beware when it comes to the real estate scene here! As was said, some good developers, and lawyers, but I would tend to rely on reccommendations from Friends who have been through this buying experience here successfully. We did have a trouble free experience, though getting the title deeds is not for the faint hearted!
Dee
Dee
