Limassol Beach Apartment for a London Professional
€195,000 · 20 years · 4.10% fixed 5 yrs. A Londoner working in financial services wanted a holiday apartment in Limassol, close to the city's waterfront development and international business community.
The Client
UK Residents - Holiday Home
The Challenge
A Londoner working in financial services wanted a holiday apartment in Limassol, close to the city's waterfront development and international business community. He visited Cyprus four to five times per year and wanted an asset he could also let when absent.
Our Solution
Doulton arranged a Cypriot non-resident mortgage with straightforward income verification from the client's UK employer. The letting potential was noted as a positive. Title deeds - a historic concern with some Cypriot property - were confirmed as clean and separate from any prior developer mortgage.
The Outcome
Apartment purchased with clean title deeds confirmed. Used personally for around eight weeks per year. Rented through a Limassol agency for the remainder, covering all holding costs. Key highlights: Title deed status confirmed as clean pre-purchase; Non-resident mortgage arranged efficiently; Rental income from agency covers all holding costs.