Best Mortgage Lawyers in Cyprus

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CTA LAW FIRM (C.T. Antoniou & Co. LLC)

CTA LAW FIRM (C.T. Antoniou & Co. LLC)

Nicosia, Cyprus

Free Consultation: 15 mins


Founded in 2020
4 people in their team
CTA Law Firm is a boutique law firm regulated by Cyprus Bar Association. CTA Law Firm provides a wide range of legal services focusing on the...
English
Greek
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Elias Neocleous & Co. LLC

Elias Neocleous & Co. LLC

Nicosia, Cyprus

Founded in 2017
120 people in their team
We are the largest law firm in Cyprus by a considerable margin and are generally recognised as  leading law firm in the Southeast Europe. We...
English
Greek
Russian
N. PANAGIDOU LAW OFFICE

N. PANAGIDOU LAW OFFICE

Limassol, Cyprus

Founded in 2020
2 people in their team
N. Panagidou Law Office is a modern law office delivering personalised legal services to individuals and businesses. Main areas of specialization are...
Greek
English
George S. Theocharous llc

George S. Theocharous llc

Paphos, Cyprus

Founded in 2011
3 people in their team
With a professional experience of over 10 years, George S. Theocharous LLC has been serving the Paphos area, as well as the whole of Cyprus and...
Greek
English
Demetris Ch. Demetriades LLC

Demetris Ch. Demetriades LLC

Nicosia, Cyprus

Founded in 2016
5 people in their team
Demetris Ch. Demetriades LLC is a law firm based in Nicosia, Cyprus specialising in the areas of corporate & commercial transactions, Real...
Greek
English

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About Mortgage Law in Cyprus

Mortgage law in Cyprus governs the legal issues related to mortgages, which are commonly used by individuals to purchase real estate. A mortgage is a loan that is secured by the property being purchased, with the borrower agreeing to repay the loan over a specified period of time, along with interest.

Why You May Need a Lawyer

You may need a lawyer for mortgage-related issues in Cyprus if you are facing foreclosure, if you are looking to secure a favorable mortgage agreement, if you are disputing the terms of a mortgage contract, or if you are seeking legal advice on any other mortgage-related matter.

Local Laws Overview

In Cyprus, key aspects of mortgage laws include the requirement for mortgage contracts to be in writing, the need for registration of mortgages with the Department of Lands and Surveys, the ability of mortgagees to foreclose on property in the event of default, and the existence of laws governing the repossession and sale of mortgaged properties.

Frequently Asked Questions

1. Can I get a mortgage in Cyprus as a non-resident?

Yes, non-residents can obtain mortgages in Cyprus, but they may face additional requirements compared to residents, such as higher down payments and stricter income verification.

2. What are the typical interest rates for mortgages in Cyprus?

Interest rates for mortgages in Cyprus vary depending on the lender and the terms of the loan, but they generally range from 3% to 5%.

3. How long does it take to complete a mortgage transaction in Cyprus?

The time required to complete a mortgage transaction in Cyprus can vary, but it typically takes between 4 to 8 weeks.

4. What happens if I default on my mortgage in Cyprus?

If you default on your mortgage in Cyprus, the lender has the legal right to foreclose on the property, sell it, and recover their outstanding debt.

5. Can I pay off my mortgage early in Cyprus?

Yes, you can pay off your mortgage early in Cyprus, but you may be subject to early repayment penalties as specified in your mortgage contract.

6. Can I use my property in Cyprus as collateral for a mortgage?

Yes, you can use your property in Cyprus as collateral for a mortgage, which allows you to secure a loan using the property as security.

7. Are there government programs available to help with mortgages in Cyprus?

Yes, there are government programs in Cyprus that provide assistance to homeowners facing financial difficulties, such as loan restructuring and debt relief measures.

8. What are the common fees associated with mortgages in Cyprus?

Common fees associated with mortgages in Cyprus include arrangement fees, valuation fees, legal fees, and insurance fees.

9. Can I transfer my mortgage to another property in Cyprus?

Yes, you can transfer your mortgage to another property in Cyprus, but the new property will need to meet the lender's approval criteria.

10. Should I hire a lawyer for my mortgage transaction in Cyprus?

It is advisable to hire a lawyer for your mortgage transaction in Cyprus to ensure that all legal requirements are met, to review the terms of the mortgage contract, and to provide legal advice on any issues that may arise.

Additional Resources

For further information on mortgages in Cyprus, you may contact the Department of Lands and Surveys, the Cyprus Bar Association, or consult with a local law firm specializing in real estate law.

Next Steps

If you require legal assistance with a mortgage issue in Cyprus, it is recommended to schedule a consultation with a qualified real estate lawyer who can provide you with personalized advice and guidance based on your specific circumstances.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.