Are Cyprus banks really cancelling morttgages of Brits?

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jeba
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Joined: Fri Jan 27, 2017 8:38 pm

Are Cyprus banks really cancelling morttgages of Brits?

Post by jeba »

According to a posting in a German FB group the reason why so many properties in / near Tala have come to the market recently is that Cypriot banks are forcing Brits to sell by cancelling their mortgages as a consequence of Brexit. Is that true? Can they even do that?
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Yogi
Posts: 66
Joined: Wed Dec 28, 2016 11:16 am
Location: Tala

Re: Are Cyprus banks really cancelling morttgages of Brits?

Post by Yogi »

My UK landlord tells me that is true. He has a Bank of Cyprus mortgage and says they have told him to pay it off before the end of 2025 because of Brexit. He was going to sell the house but will now borrow in UK to pay it off.
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