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Lawyer required

Posted by Costa Costas - Created: 9 years ago
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10 replies (Showing replies: 1 to 10)

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Posted by Nigel Howarth - 9 years ago

Hi Costa,

I think the easiest thing to do for a complex is for the developer to get a mortgage release from the bank stating that the unit being purchased is free of a mortgage.

Eg.

Let's suppose the development comprises 50 units and there is a mortgage of €2,000,000 on the development. The developer would need to reduce the mortgage by €40,000 as each property was sold.

Regards,

Nigel

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Posted by Costa Costas - 9 years ago

Nigel
Thanks for the information.
How would you propose developers of multi-units on one title deed offer protection?
Assuming that the construction is built in conjunction to the planning permission and that there is a sensible sales contract in place, is there any other way of giving purchaser greater comfort? It is all well saying that an individual property should not have finance on it, but what about a complex? There would be no development at all, if finance were not available. If the developer has finance attached to the land and not the property, how do you get protection, as the purchaser and how do you stop them raising finance against the land after the complex is finished?
Thanks again for all the information, I really appreciate it!

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Posted by Costa Costas - 9 years ago

Nigel
Thanks for the personal info, very interesting. I can certainly relate to the problems you mention.
What is your view on how developers should hold title deeds (before division) to afford purchaser best protection for new builds?

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Posted by Costa Costas - 9 years ago

Johnners
Funnily enough, this was the lawyer that I contacted. Andrea Sofocleous web address is sofalawfirm.com.
However, they do not have anyone in London (typically Cypriot) serviced offices etc and the enquiry was referred back to Cyprus. Decent guy in Cyprus, very friendly, but not what I require. Eventually, he referred me to a barrister in London but I am still waiting for a call back...... recession, apparently not!
Any other recommendations appreciated.
Thanks

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Posted by johnners-660966 - 9 years ago

Hi Costa,

Just passing time at Manchester Airport waiting for my flight home to sunny Cyprus. What would we do without WiFi at airports?

Anyway contacted the Law Society on Friday and they said they hadn't time to give me an exhustive list of lawyers but the first one that popped up when they did a search was http://www.soflawfirm.com/offices.php They have an offices in London and Limassol.

Hope this helps.

Johnners

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Posted by Nigel Howarth - 9 years ago

You're welcome Costa,

I can't give you any information about Andrea Sofocleous - I've not heard of the firm.

As for me - I retired to live here 7 years ago having escaped the UK 'rat race'.

Regards,

Nigel

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Posted by Costa Costas - 9 years ago

Nigel

Thank you for the information. Thankfully someone has read my second post and given me information that is helpful!

I have come accross Andrea Sofocleous who have an office in London's Mayfair and have contacted them regarding my requirements. If they are not suitable, I will give your suggestion a try. (Maybe Lorraine will as well)

Does anyone have any experience of dealing with Andrea Sofocleous in Limassol?

Thanks again for help. For my curiousity Nigel, what do you do for a living and how long and where do you live in Cyprus? Feel free to ignore, if the questions are too prying!

Regards

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Posted by Nigel Howarth - 9 years ago

Hi Costa,

I don't know of any UK law firms with a Cypriot affiliate. The British High Commission in Nicosia publishes a (short) list of lawyers in Cyprus - and I know that some of them had firms in the UK before establishing themselves in Cyprus.

You can get a copy of that list from: http://ukincyprus.fco.gov.uk/en/help-for-british-nationals/when-things-go-wrong/if-you-need-lawyer/list-local-lawyers (Click on 'List of Local Lawyers' in the 'Related Documents' section on the right of the page).

Regards,

Nigel

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Posted by lime-676998 - 9 years ago

I honestly doubt whether there is anything good in Cyprus in that respect - usually Cyprus lawyers refer their clients to an appropriate specialist in UK so that all UK matters will be settled there, and same goes for UK lawyers with regard to Cyprus issues... I guess it might be possible to find a branch in Cyprus of some third-rate UK law firm (though I do not know of any), but would you really wish to go there? If you really wish to have dealing with a lawyer in Cyprus regarding UK legal questions, the sure bet would be having a Cyprus based law firm representing your interests to a UK one (as an Instructing firm), but that would cost you extra.

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Posted by belinda-675574 - 9 years ago

Try Louise Zambartas in Limassol.