Financing Your Purchase

In the event that it is necessary or desirable to raise finance to complete a purchase in North Cyprus, Busy Bees Estate Agents can assist by offering our clients the services of a professional U.K. based finance company and mortgage broker who has experience in the North Cyprus property market. If you wish to explore the possibilities then please use our information request form quoting BB Finance and we will arrange for an adviser to contact you. There is no obligation involved in seeking information on this service.

Many developers offer staged payments plans for those making an off plan investment. This not only allows you to spread the payments over the period of construction but also provides an extra incentive for the developer to keep to agreed schedules. It is important that your solicitor has recorded details of such an arrangement in the contract of sale. Other variations of payment plans may be available and you should always seek the advice of your solicitor before signing as with any such transaction.

Cash purchases are obviously an option but once again make sure that your solicitor has sanctioned any payments before they are made. Apart from possibly a small holding deposit to secure a property, all payments should be made through your solicitor to ensure that they are properly recorded and receipted. It is normally possible to pay using most leading currencies such as turkish lira, pound sterling, or euros.

Bank transfers are another method of paying for your purchase and again it is wise practice to make these payments via your solicitor’s account rather than direct to an agent or to the vendor. Because the banking systems between Turkey and the TRNC are closely connected, you may find it easy to transfer funds. As with any international transfer there is likely to be a charge for this. Check this with your bank.