Holiday rentals news - Fight over title deeds for Cyprus villas taken to EU

Fight over title deeds for Cyprus villas taken to EU

A British couple fighting for developers to hand over the title deeds to villas in Cyprus have taken their case to Brussels. Leslie and Barbara Glassock discovered that although they had paid for their property, they did not technically own it.

The Glassocks are campaigning on behalf of the 30,000 UK owners of villas in Cyrus, reports The Mail on Sunday. The couple were shocked when they found out that despite having paid £300,000 in cash for their home, the developer still held the title deeds and was not legally obliged to hand them over.

"Until the deeds are issued, the developer can use the land as collateral for further loans," Mr Glassock told the paper. "If they can't, or do not, repay the loan on their land, their bank can seize the house which I've paid for."

A Downing Street petition organised by Mr Glassock to demand action against the Cypriots received over 2,200 signatures. He has now turned to the European Union (EU) for assistance and is due to meet with the British high commissioner in Limassol today.

Figures from southern Cyprus's land registry show that 29,949 foreigners are waiting for title deeds. However, only 1,600 are being issued per year.

The Glassocks are continuing to campaign, although it has been agreed with their developer's bank that it can have no claim over the couple's land and villa.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 for holiday homes worldwide.

Related Stories
Greek Cypriots can reclaim land - possible impact on holiday home owners
New Disneyland planned for Cyprus
Talks of reunification boost Cypriot property market Print this article