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Technical advisors are calling for the Cyprus government to demolish illegally built properties that are unlikely to be approved under the new planning amnesty. As part of its plan to quick cash loans in md sort out the decades long title deed and illegal building situation the government has set up a process where illegal developments can be regularised. But the Cyprus Scientific and Technical Chamber (ETEK), the statutory technical advisor to the state, wants a clear sign that illegal building will not be tolerated. It believes that demolition will not just be a penalty for those who have broken the law but also serve as a warning to those who may consider breaking the law in the future. ETEK also wants a black list of property developers who sell apartments off-plan without first having secured the necessary permissions and who then make false claims regarding completion and withhold Title Deeds, and those who, having been refused a loan, remortgage property for which no Title Deed has been issued in order to fund loans for bad payday loans fast credit no fees no guarantor no brokers the development of their next illegal project. Spokesman Costantinos Constantis said various companies were destroying Cyprus international reputation and the authorities should reject applications made by land developers who were known to have broken the law. There is still considerable doubt in Cyprus that the measures currently being adopted with solve the problems faces by tens of thousands of property buyers who don t have title deeds and who may face having their properties demolished. There is also concern about how long it is taking to put the new bill into action. It also claimed that some of the provisions in the proposed legislation being proposed will lead to stagnation in the construction industry. Meanwhile European Parliament MP Daniel Hannan has called on the European Commission to send a fact finding mission to Cyprus to investigate the Title Deed problems. He is concerned that the new legislation will not address the main problems especially those relating to buyers whose properties have second developer palm coast payday advance loans mortgages on them and therefore they do not have title deeds. In a written question to the parliament he has check into cash loans also asked for specific official figures on the number of property sales contracts that are encumbered with developer mortgages, the current personal loan bad credit lenders balance of the total mortgage debt of Cypriot loans to pay bills while in school developers and the year on year percentage increase of that debt over the last three years.


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He has now written to the European Commission demanding what it is going to do about the situation. What measures is the Commission proposing to help Cyprus tighten up its building and planning legislation? What redress do expatriates living in Cyprus have after being sold an illegal construction? The government in Cyprus claims it is trying to sort out the title deeds problem stemming from unscrupulous developers raising mortgages on properties already sold to unsuspecting buyers, many of who were British. A certain amount of illegal building has also contributed to the problems.

They are not moving fast though and even although new rules have been debated in parliament nothing has yet been introduced in law and there are also concerns about the time it will take to sort out the mess with hundreds of payday loans fast thousands of properties thought to be affected. As a result of all the publicity many British buyers have pulled out of the market and now there are reports that Russian buyers are now aware of the potential pitfalls with agents reporting a drop in interest from them. A massive drop in property prices has not helped to revive the real estate market on the Mediterranean island which was once one of the most popular locations for overseas buyers and investors. I am one of those people that has been waiting for her title deeds in cyprus!!!! I cannot finish building my house because of the title deeds and there for we are stuck with a half build house. CYPRUS fast loan approval you are embarrassing pay weekly loans online all CYPRIOTS including me by all your incompetence. How can a country of give me a loan only 700 000 people be in such a bad state as to giving people what they already own!!!!!! Not only that you guys must be really thick because think of all payday loans fast the money the goverment will get when they actually just simply grant all the title deeds.. I am seriously looking in to this and going to the European union with this payday loans fast story it is unbelievable that Cyprus government lets itself be run by a few bad bad boy solicitors!!!!!! I will fight this until the end and before you start I am a cypriot and I am ashamed of my so called country.

Anybody have bad credit loans san antonio the balls to speak to me why in the hell it takes 5 years when we have done everything legally and above board to get the dam paper you guys owe me!!

Well said Stevie Now that the EU might be going to investigate, it will be very, very , interesting to see what the developers and banks are going to do, never mind the Lawyers or whatever it is they call themselves. The can of worms is slowly being opened, it s going to get scary, very scary indeed. The Cypriot government has extended the deadline for lodging legal claims against alleged property mis-selling in Cyprus. A number of lenders and property developers in Cyprus have been cited in legal proceedings by an array of investors from around the world with a significant number from the UK. While many potential claimants were scampering to make last-minute legal claims the deadline has been moved to the 31 December 2014 which has taken some of the pressure off those caught up in the scandal.

This is an issue which is rumoured to have affected up to 15,000 expats from the UK and a whole range of other investors from around the world. So, what has happened with the Cypriot property market and why are so many UK expat investors up in arms? The investments in question were acquired between 2003 and 2009 which takes in the US mortgage crisis and subsequent property market collapse. It seems that the majority of those UK investors looking for legal redress acquired off-plan developments which were either unfinished or in some cases had not even started. There is some confusion as to why the situation has left many British expats so financially distressed but it seems that the nightmare storm of adverse currency fluctuations, mortgage rate increases and a collapse of the Cypriot property market came together in disastrous fashion.

Reports in Cyprus suggest that the majority of those impacted were buy-to-let investors who had planned to rent their properties to holidaymakers. This is an area of the worldwide economy which also collapsed in light of the US mortgage crisis thereby adding another nail to the coffin of investors in the Cypriot property market. Surprisingly, when you bear in mind that Cyprus is part of the European Union, many investors in question were advised to take out Swiss franc mortgages as this currency was seen to be safe with stable interest rates. There is some concern about the way in which these mortgages were sold and whether all of the risks were made clear to investors.

There are also questions being asked about the powers of attorney used by Cypriot solicitors to complete the transactions and whether they were valid. One of the main legal arguments is whether the cases in question should be heard in UK courts or Cypriot courts. Many of those caught up in the situation have been advised to lodge legal claims in both UK and Cypriot courts so that they are covered whichever way the legal argument falls.

When you also bear in mind that some developers stand accused of using title deeds on customer properties as collateral for their own funding requirements this is indeed a dark chapter for the Cypriot property market. We will continue to monitor the situation and report upon future developments as and when they are confirmed. Many payday loans fast people have been caught offguard by the announcement that Greece and Turkey are in talks about the reunification of Cyprus. This is a subject that has been ongoing since 1974 when the island was split between a Turkish Cypriot republic in the North and a Greek Cypriot country in the south. Even to this day there is a UN buffer to ensure no friction between the two age-old enemies although things could change very quickly with further talks expected. Each side of the argument has demanded that the other withdraw their forces from the island in order to pave the way for reunification. So far, as you would payday loans fast expect at early stage talks, no side has been willing to give way to the other and there is something of a stalemate at the moment. However new talks are expected to begin on 18 January in Geneva at which point the issue of security will be central.

It will be interesting to see whether the two sides are able to agree a way forward because there seems to be an appetite for an agreement otherwise why begin talks?