"Ban Cyprus property companies and close their UK offices"

Discussion in 'Cyprus Property' started by Nigel Howarth, Jun 13, 2009.

  1. Nigel Howarth

    Nigel Howarth Member

    Peer calls on UK Government to ban Cyprus property companies and close their UK offices

    A British peer has called on the British government to close the UK offices of Cypriot companies selling property and to ban the promotion of Cyprus property at overseas property exhibitions.

    Following last Tuesdays bombshell that the changes to property laws being planned by the Cyprus government will bring no relief to existing buyers, British peer Lord Jones of Cheltenham has called on the UK Government takes positive steps to protect British citizens.

    [Read More]
  2. Cornholio

    Cornholio New Member

    His Lordship speaks............

    “Can you imagine Cyprus holding the Presidency of the EU with this nonsense going on?”
    By Nathan Morley
    (archive article - Sunday, July 5, 2009)

    In an exclusive interview with the Sunday Mail, British peer Lord Jones of Cheltenham tells of how the powerlessness of those caught in the title deed trap prompted him to act in the House of Lords.

    IT WAS a question from a British peer that exposed legislation to fix the much hyped title deeds saga was a fantasy.

    A month later the same man shot another broadside when he publicly warned that buying a house in Cyprus was a risky endeavour and called for the closure of Cypriot developers in the UK.

    Since being rocketed in the local news headlines, Lord Jones of Cheltenham has declined to speak to the media, but in a rare interview this week, he told of how he became involved in the Cyprus property quagmire.

    “I received a stream of letters and emails from UK citizens who had been caught in the trap. It struck me as (a) unjust and (b) an ideal issue for the House of Lords to mull over. My file of cases grows by the week. I am unable to take up individual cases as that is the job of the person's own MP and lawyer,” he said.

    It was his call last month for the British government to shut down the UK offices of Cypriot companies selling property and to impose a ban on the promotion of Cyprus property at overseas property exhibitions in the UK that caused a considerable stir in Cyprus. However, he admitted, he never expected such proposals to be adopted.

    “If it has concentrated the minds of good, honest property businesses in Cyprus to put pressure on their own government to sort out the mess, then it might have achieved something. Under European competition law, the idea of shutting business is almost certainly anti-competitive and therefore illegal. No doubt that is why the UK Government has turned down the idea.”

    In the event, the British government said they would not take any steps to close down offices of Cypriot companies or ban the promotion of Cyprus property at exhibitions unless they received evidence of illegal behaviour.

    Last edited: Dec 11, 2009
  3. grumpy001

    grumpy001 New Member

    What you both show is some of the current flaws in the system and the inflexibility or will to change it.

    It needs a concerted effort by Cypriots internally or the screams of foreigners (unless EU driven) will fall on deaf ears.

    Certain of the major firms acting as marketers for developers here have overstepped the mark by miles.

    Who however would buy or be driven to buy an expensive property overseas by a 20 year old not old enough to shave and living at home with mummy, so some responsibility also has to rest with the buyer.
  4. Natty

    Natty New Member

    Hi Gammon

    Thanks for your reply. I also have a lawyer on the case , waiting for a response. I was promised 25 years, but I have only got 15 with payments to match. Have you found out anything from you lawyer yet?
  5. G99

    G99 New Member

    Hi Natty, I just came across your post, I bought through the same route but also with two sets of financial advisers in the chain and so it might be worth us swapping experiences / notes. Have you made any progress with your lawyer?

  6. Sutton

    Sutton New Member

    Dear Natty

    It sounds like you may be experiencing the same issues as myself.

    I too am seeking legal advice regarding my IFA. What has been your progress so far?
  7. G99

    G99 New Member

    Dear Sutton, it would be interesting to hear how far you have got, did you buy at St Nics and are you on the St Nics Forum? Legal actions seems to be the only hope with some of the issues following investigations by myself and others.


Share This Page