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We all dream of owning a property abroad and for more and more people that dream is becoming a reality. Cyprus has long been considered one of the most attractive countries to own a second home or investment property because of it's perfect all year round climate, great standard of living, low costs and almost no crime or pollution.
There are basically three ways for you to purchase your dream home in Cyprus, you can pay for the property with cash (not an option for most of us), re-mortgage your UK property OR finance your purchase with a Cyprus mortgage. If you are looking to finance a property in Cyprus then cyprus-mortgages.co.uk can help.
Our team of experienced British AND Cypriot financial experts, mortgage brokers and property specialists review the many Cyprus mortgage products that are currently available on the market and make recommendations on what we believe is the best possible Cyprus mortgage product. We not only review all of the financial elements but we also (where possible) get feedback from people who have used the mortgage product to finance a property in Cyprus to allow us to deliver a balanced review. Our 'Deal of the Day' page is where we have specific details of the best Cyprus mortgage product.
Generally in Cyprus it has only been possible to get a mortgage for upto 70% of the value of a new property. HOWEVER, there is good news for the purchaser as there is a new Cyprus mortgage product that has just been released that allows purchasers to only have to put in a 15% deposit and then have an interest only repayment period of 7 years before reverting to capital and interest for the remainder of the term. Not only this but the interest payments are substantially lower than any UK mortgage and there are NO UK credit checks. Please click here for the latest news on this product and how you can apply.