International Mortgages
Previously estate agents in North Cyprus marketed properties that required cash sales or staged payments where smaller constructors were looking for quick returns on their investments. This restricted investors who could not meet cash or staged payments. North Cyprus currently offers the best value investment in the Mediterranean and with our international mortgages, offering affordable terms to any nationality, you can achieve your investment goal.
The graph demonstrates what your money will buy in major European investment areas.
Apartment Costs
GBP
C & T Construction & Estates can offer international mortgages on all our properties:
- Up to 70% with 20 years payment term
- Based on sterling UK pounds fixed rate based on 5%
- No UK based security needed
- A guaranteed fixed rate international mortgage plus relative insurances
- Available to all nationalities
- Our mortgages and your mortgage will be secured on the property you purchase through C & T Construction & Estates.
Why you should consider taking an international mortgage on one of our properties
- Over the past 18 months property value has increased by up to 50% and continues to rise
- The North Cyprus of today can be compared to Spain in the 1970’s with capital appreciation 40 – 50%
- Tourism is growing in this area with the lure of over 300 days of sunshine, unspoilt beaches and a low cost of living. Rental yields are showing excellent returns on investment.
- Put 30% down and pay nothing until your property is built 12 – 24 months later
- Mortgage instalments don’t begin until you receive the keys!
- Banker guarantee and all securities are included in the contract of sale
- No restrictions on number of purchases
- No capital gains tax
- First time buyers wanting to get on the first rung of the property ladder can do so and get an excellent return on their investment
- IT’S THE RIGHT PLACE AND THE RIGHT TIME!
C & T Construction & Estates are specialists in construction and estate agency and will help you to find your dream home and the right investment for you. They can:
- Offer expert investment advice on land sales, real estate, types of property etc, taking you through all the options and documentation
- Offer a fixed rate international mortgage (see above)
- Arrange re-assignable contracts if you decide to sell your investment on even before completion
- Recommend architects, constructors, project managers and legal and financial advisers – ensuring your investment becomes a reality and of the highest standard
- Look after your investment in your absence through their property management service
- Market your property on your behalf to maximize your rental income
Comparing North and South Cyprus
This table shows the relative costs of building a three bedroom property in North Cyprus, beginning in November 2005, compared with building a similar property in South Cyprus.
| North Cyprus | South Cyprus | |
|---|---|---|
| Location | Famagusta | Paphos |
| Specification | Three bedrooms 110m² | Three bedrooms 110m² |
| White goods | No white goods | |
| Two A/C units | No A/C units | |
| Gymnasium | No Gymnasium | |
| Swimming and children’s pool | No Swimming and children’s pool | |
| Price | £54,950 GBP | £140,000 – £150,000 GBP |
| Expected value growth for next three years | 40% – 60% | 10% – 15% |
| Capital Gains Tax | None | 20% |
| VAT | 5% | 15% |
| Pension Tax | None | 85% |
| Transfer fee based on £100,000 GBP | 0% | 8% |
| Mortgage | No status | Subject to status and restrictions |
| All nationalities | ||
| 5% fixed rate | Rates and loan to value variable | |
| Initial deposit | Invest £19,232.50 Do not pay for another three years! |
£45,000 + legal costs Based on 30% deposit |
Mortgage criteria
Mortgages in sterling (GBP)
The property subject to purchase is used as security against the loan. Leaseback or resale schemes can be considered on case by case basis. Fixed interest rates and up to 20 year term
Lending criteria and eligibility
- Mortgages are only for residential property
- All mortgages are subject to status but proof of income not necessary
- No minimum loan amount
- No age restrictions and maximum term available is 20 years
- Eligibility to borrow - no criminal record in North Cyprus or money laundering charges in other EU countries
- Potential rental income and estimated value growth of the property can be taken into consideration.