Cubism Law, London
0207 831 0101
End of year deadline looms for property owners to register claims against Cypriot banks, developers and lenders
Over recent years almost 15,000 UK residents have succumbed to glossy advertising and sales talk, buying Cypriot properties off plan. Large loans have been eagerly provided by Cypriot banks at the peak of the market, frequently in Swiss Francs for their low and supposedly stable interest rates, against overvalued properties, often never adequately built out. Now, with the Swiss Franc’s strengthened value and relentless interest rate hikes, investors are paying a heavy price: unsaleable and...