Alpha Bank Cyprus has written to a number of their clients offering to assist them to continue repaying their obligations to the Bank or to fully settle the loan with a significant discount.
A Cypriot District Court ruling concerning jurisdiction throws cold water on a ruling by the High Court in London that the claimants have the right to bring their action in the UK provided they do so within a six year limitation period.
Under a new Cypriot limitation law that came into force in July 2012, time is running out for people who fail to address their foreign currency mortgage predicament within the six year limitation period.
Due Diligence
Due diligence is absolutely essential before committing to buy a property.
