Title Deed cost - discount?

[Jimgward]

About a year ago, there was talk of a large discount to encourage people to pay for their deeds.... anything ever happen and any likelihood?

[Jimgym]

Yes there is a 50% discount on cost of deeds.

[malsue]

Hi all, Lots if info on Nigel Howarths 'Cyprus Property News'

http://www.news.cyprus-property-buyers. ... d=00151948

[Jimgward]

I have waited on the discounts to ensure it was the right time... thanks for advice.

LLoyd, out of interest, how did you get the extra 10% discount?

Jim

[Jimgward]

Property Transfer Fees reduction permanent In an announcement published earlier today the Cyprus Finance Ministry advised that it has lifted the temporary 50 per cent reduction in Property Transfer Fees for transfers that take place by 31st December 2016

Read more at: http://www.news.cyprus-property-buyers. ... d=00151510
Copyright © Cyprus Property News

[geoffreys]

I have waited on the discounts to ensure it was the right time... thanks for advice.

LLoyd, out of interest, how did you get the extra 10% discount?

Jim

We recently obtained our Title Deeds and at the Land Registry office we were given the option of the 50% discount
payable in monthly instalments over 12 months, OR to pay the fees all in one go there and then and get an extra
10% discount, we opted for this second method and paid using our credit card.
Geoff.

[geoffreys]

There's a further 10% discount for registering your property under the Trapped Buyers Scheme.

I think it is the same 10% discount as our property had been so registered; but we only got it if we paid the transfer fees
in toto at the time.
Geoff.

[oylero]

Our Title Deeds were ready in January 2015 and so we paid €8k then in Transfer Fees. Is this before the "discount" became applicable? If yes, has anyone managed successfully to reclaim retrospective payment of 50% discount?

[OhSusana]

Thanks for info here. Just got mine also. Just to let folks know, it's now taking about 4 months to get title deeds, if no probs.

[geoffreys]

Geoff, I checked your "10% prompt payment discount" out with Charis, the expert who worked with us to wrest our Title Deeds from our developer and also go though the Land Registry process. He says:

Regarding the property owner who is paying the transfer fees by instalments over 12 Months, the following conditions apply:
(a) If someone takes the option to pay the transfer fees in instalments over 12 months period, the balance is bearing the legal interest of 4.5%,
(b) The 10% Trapped Buyers Scheme discount is no longer applicable.
(c) The repaying timing is very strict and precise, If you are late for “1” day with your payments a MEMO will be attach to your title deed.

Well maybe it was the 10% trapped buyers discount; whatever it was we got it in addition to the 50% discount for all.
Maybe, as you say, not available now.