Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

George Kounis

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British rescue proposed in property mis-selling

London-based law firm Maxwell Alves is lobbying politicians and government agencies to resolve claims between clients and property developers in Cyprus without resorting to litigation.

Cyprus property mis-selling could cost €1 billion

Cyprus must adopt a clear plan to resolve the many cases of mis-selling if its once thriving property market is to breathe again - and the cost could reach a billion Euros argues George Kounis.

Tax refunds on escrow account interest sought

HMRC have been asked for a review the application of the rules and tax refunds for the thousands of people who have received tax demands for interest earned on escrow accounts in Cyprus.

Bank opens dialogue in Cyprus property mis-selling

Alpha Bank Cyprus is offering a repayment moratorium to borrowers who have fallen behind on their mortgage repayments and confirmed its readiness to resolve matters in an amicable way.

A very Cypriot Swissgate

If the professional advisors had foreseen the pitfalls of Swiss Franc mortgages and did not tell the borrowers or worse still if they planned it this way, then we would have a scam of scandalous proportions.

Is litigation the answer?

Will a protracted legal battle against the Alpha Bank in Cyprus concerning the alleged mis-selling of Swiss Franc mortgages achieve a positive result or can more be achieved through negotiation?

A plan for all reasons

Proposals to resolve property purchase disputes in Cyprus without litigation and restore the credibility of its public, property and financial sectors have been submitted to the Cyprus Government.

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