Moving to Cyprus

[lynne1961]

Hi
My husband and I are hoping to relocate/take early retirement to Cyprus next May. We are coming over in January to stay with friends in Emba & hoping to view some properties and areas around Paphos. I have read that many house sales in Cyprus are done privately (with a lawyer of course!) and wondered if anyone was looking to sell? We have a budget of 180000 - 200000 Euros and are looking for a detached villa/bungalow with a minimum of 3 bedrooms and a private pool within a 10-20 minute drive of Paphos. Preferably with white goods included in the sale and maybe some furniture. If anyone is interested and the time scale of a completion in May 2017 would suit please let me know! Thank you in advance.

[trevnhil]

There will no doubt be much advice Lynne, including renting first... But at least you have friends here to advise you.
But please.... if you are going to buy straight away, BUY ONE WITH DEEDS..

Good Luck. Trev..

[lynne1961]

Thanks Trev, yes we aware of title deeds and will make sure we take independent legal advice too. Our friends are being really helpful and not fed up of our non-ending questions yet! We did consider renting first but have decided against that option after a lot of thought, may have to if we don't find what we are looking for straight away though.

[ASHTON]

We've been here in Cyprus for fifteen years now and guess we will see our days out here...Just one problem with the island that i think that the majority of members will agree with.......Barking dogs
Where ever you settle,rent or buy,check your potential nieghbours out both night and day for their little adorable canines constant barking....Dont heed this advice and your life here could be,,,,well,,,,,uncomfortable and costly.

[lynne1961]

Thanks Ashton......we will be bringing our dog but I promise we never leave them barking!

[J B]

We've been here in Cyprus for fifteen years now and guess we will see our days out here...Just one problem with the island that i think that the majority of members will agree with.......Barking dogs
Where ever you settle,rent or buy,check your potential nieghbours out both night and day for their little adorable canines constant barking....Dont heed this advice and your life here could be,,,,well,,,,,uncomfortable and costly.

Yes, but having found your peaceful home, there is sadly no stopping the noisy dogs from moving in next door!

[lynne1961]

Your'e absolutely right but unfortunately that could happen anywhere in the world

[ASHTON]

We've been here in Cyprus for fifteen years now and guess we will see our days out here...Just one problem with the island that i think that the majority of members will agree with.......Barking dogs
Where ever you settle,rent or buy,check your potential nieghbours out both night and day for their little adorable canines constant barking....Dont heed this advice and your life here could be,,,,well,,,,,uncomfortable and costly.

Yes, but having found your peaceful home, there is sadly no stopping the noisy dogs from moving in next door!

Your spot on there JB ive seen it happen

[ASHTON]

Your'e absolutely right but unfortunately that could happen anywhere in the world

Yes it could happen anywhere in the world Lynne..We,ve spent time in numerous countries during our working lives but have never known anywhere with such a barking dogs problem as Cyprus,
You could stand on the roof of our house at any time night and day and you will hear at least one dog barking somewhere.Mostly thankfully in the distance so as not to keep us awake

[lynne1961]

So back to my original post....if you are thinking of selling please get in touch unless you live near to barking dogs Seriously though thank you for the advice it's much appreciated

[Wee Stumpy]

Lynne
I am not trying to put you off in any way but do be careful!

We have lived here for 10 years and it is in our interests to return but still a good place to live for some but it is certainly not easy for dog owners in particular - virtually no decent beaches where dogs are allowed, no Restaurants where dogs are allowed ( some outdoor tavernas), the risk of snake bites and the numerous incidents of poisoning are very worrying for all responsible dog owners. In addition to this are the constant incidences of animal cruelty and by constant I mean daily which make life difficult here for dog owners. There are daily pleas for monetary help from animal charities and I have lost count of the amounts that I have donated and also the animals that I have rescued ( two of which are mine now and will be returning to the UK with us) Be prepared!! You could end up with 10 dogs!!!

Also, of course we do not know what will happen with exchange rates by next year when you hope to come over but if you bear in mind that parity might be achieved and budget for that then anything above will be a bonus for you!
If you are not yet of retirement age then you need to sort out some medical insurance and budget for that !

One other thing as I found to my cost - DO NOT close all your UK Bank accounts as we did - it is very difficult if you ever return to open again!!

I hope I have not been too pessimistic and wish you every success in your new life - I can certainly recommend early retirement!!!

[lynne1961]

Shelagh

Thank you, I must admit that I am a bit wary about bringing the dog over, lots to think about. We have budgeted for parity if it gets any worse then we may have to change our plans
We will get some medical insurance but have been told that it's probably better to source it locally rather than on-line from the UK?
Thank you again, good luck with your move and the dogs!

[ASHTON]

The exchange rate?Mmmmm,if you or i knew how it was going to play out,we would rule the world.

Sadly us humble mortals can only guess

[bev and ray peyia]

Hello Lynne,

We returned to the UK for personal reasons 3 years ago so can comment on both sides of the situation.
We bought "off plan" back in 2005 and lived to regret it. It has taken us 8 years to sell it and we have lost 65% of our investment so would advise you to rent before buying anything.
We had such bad neighbours ( British) that we ended up renting elsewhere to get away from them as our lives were made so miserable by them. Our rental made us much happier as we knew we could move on if the neighbours from hell moved in or we had barking dogs 24/7 ( yes it is prevelant in Cyprus no matter where you live).
I still miss my friends and the social life and of course the lovely beaches and the warm sea to bathe in but my husband is so much happier now so it is with few regrets we are here now.
Keep your money safe back in the UK and rent something lovely in Cyprus as they are so cheap you would not believe it as well as the choice it gives you to try out different areas. We were in Pegeia and Kathikas, loved Kathikas the most but it was bitterly cold in the winter although on the plus side it was cooler in the summer.
We had Cypriot landlords and they were both fantastic and supplied us with free fruit veg eggs etc all the time we were in their houses. They also treated us like family and we enjoyed several wonderful celebrations with them.
Good luck
Bev and Ray

[juliesewell]

It may also be to your advantage if the person you eventually buy a property off is a UK expat seeking to return back to the UK. In which case, it may be an idea to proceed with a sale in GBP currency rather than EUR - just a thought....

[KG]

One other thing as I found to my cost - DO NOT close all your UK Bank accounts as we did - it is very difficult if you ever return to open again!!

This is very good advice. It is virtually impossible to open a UK account when you live in Cyprus, and you may need one for your convenience. I can't even get added as a joint account holder on one of my wife's accounts - despite having my state pension paid into it!

Keep at least one UK credit card also, as it is useful when buying stuff on line in Sterling.

[lion]

It may also be to your advantage if the person you eventually buy a property off is a UK expat seeking to return back to the UK. In which case, it may be an idea to proceed with a sale in GBP currency rather than EUR - just a thought....

Its also advisable if you are renting to agree a rent in £ - there are many properties owned by Brits and are happy to take rent in ££

[juliesewell]

Yes, we kept our UK joint bank account open when we left in 2004 and also our EGG cards (later to become Barclaycard) so that wasn't a problem for us.

We did open 3 Cypriot accounts, with debit cards and a credit card, one account which we have left running for the time being as we still have the option to buy stuff for our business from Cyprus. But we will close the account either when we've used up our funds or just before the cards are due to be reissued. We just moved existing funds into one master account to make things easier for us and we paid our shipping costs part in GBP and part in EUR so that used up Cypriot funds.

The other hassle was motor insurance as not all companies will accept no claims from Cyprus but we got ours sorted out with Aviva who also accepted my husbands Cypriot issued driving licence.

Definitely stuff to think about if moving in either direction.

[daveyboy]

Hi Lynne
I have sent you a private message.
Dave. email : [email protected] Tele 00357 99819137
PS I also have quite a few years of expenditure spread sheets which will give you an insight into cost of living in Cyprus.

[Firefly]

Hi Lynne

I expect you are wondering why all the advice to rent first. We unfortunately sold up in the UK and bought in Cyprus. As with Bev and Ray, it took us ages to sell when we needed to return to the UK, again like them we lost about 50 % of our money. No-one know what the future holds, whilst you may have no intention of returning to the UK, sometimes you must. I would never buy in Cyprus again having learned to our cost the results. Do rent first, just to make sure, as once you're out of the UK housing market, it's a long hard struggle to return to a property equal to the one you left behind.

Good luck and enjoy the sunshine.

Jackie

[cymart1]

I would second the last posting...RENT first and then be absolutely sure before you commit your money here....it can be very difficult to sell again if you want to move!The main problem is that many areas are changing and with increasing development,what seems idyllic now may not be a few years down the line.....many people were taken-in by verbal re-assurances when they bought,which are of course,worthless!Do your homework and research and don't hurry!

[juliesewell]

We sold up lock, stock and barrel in the UK in 2004 and rented for the whole 12yrs we were in Cyprus.

In the end it did turn out to our advantage as we had to move back pretty quickly this year once my dad's health started to deteriorate rapidly.

Had we purchased a property in Cyprus we wouldn't have been in the position we are now, with a UK property in our own name and literally just a few doors away from my Mum whose need is of utmost importance right now.

We did look at rental property in UK just in case we couldn't find a home to purchase in the space of time we had available to seek, negotiate and get the necessary survey and solicitors paperwork on the move during the 2 weeks we were here at the start of February. But, having 2 big dogs was a major hurdle for us and rental properties move way too fast here - plus no jobs in UK either was another hiccup, even though we had a lump sum in the bank.

However, the property we rented in January 2004 prior to our arrival in March 2004 on the outskirts of Limassol was the property we left behind in April 2016.

So that rental decision really did work for us!

To the opening poster, I also would always suggest trying a rental before you buy - it's very difficult to judge an area in the space of a few holidays as your head is in a different place whilst on holiday as opposed to being a full time resident.

[kili1]

Lynne,

When we first arrived in Paphos, we lived in a rented property in Kamares village, near Tala. We then bought a villa here. It proved a good decision for us. Kamares is a great place to live, especially if you have dogs! We chose it because the village is surrounded by open country. Mainly carob trees and natural scrub wth some good tracks for dog walking. The roads are quiet and the nights here are quiet as there are virtually no barking dogs, as owners tend to keep them inside their villas and in the main they are all well looked after. There are various nationalities living here, including some Cypriots, and generally people living here tend to get on well.
We arrived here with 2 Labradors, never had any problems with the dogs over the 11 years here. You have to be sensible when out walking them, but there is virtually no,poison laid around here, except sometimes it may be hung in carob trees to get rid of carob rats. In summer avoid letting your dogs run loose through long vegetation which avoids the main risk of possible snake bite.
So, its worth you having a look at this area to see if it appeals to you. There are some smaller 2 or 3 bedded houses or bungalows here which could fit into your declared price range. PM me if you need any more information.
Good luck.
Dee

[lynne1961]

Thanks Dee, that's made me feel better

[wensbry]

Don't be put off by some of the negative comments which from experience I know are well intended.

We have a good number of friends in the Paphos area. Some have dogs, some have bought their houses and others have rented and they are all very happy in Cyprus.

We have just bought a house there and will be moving out on 2nd March, we did manage to agree a deal in Sterling which has taken away the worry of exchange rates and to be honest, saved us a lot of money.

Enjoy the build up to your move and good luck.

Steve

[lynne1961]

Thank you Steve, hope your move goes well & that we join you not long after!

[Stu&Gill]

Just some random thoughts

We are in the same position but hesitant...rather than reluctant..... to buy outright for all the reasons ,for and against

there is another equation though

Say we pay E700 rent pm for 15 yrs..that's E126000.. ( my euro sign has gone awol ) ...so if we could find something in that price range then it does make economic sense to purchase .. ..as at the mo we will pay out E126000 and have nothing of it left after 15 yrs.....whereas even if the Cyprus market collapses ...if we have paid that for a property --its 'scrap' value will be at least E1 so we would be in profit ....but -more realistic is to say half its value in 15 yrs time

Appreciate we will have the running costs of the property on top

the down side is as set out above and more particularly being unable to sell and hence lumbering our daughter with an asset she cannot dispose of and probably would only use occasionally...and the ridiculously expensive Cypriot probate system to deal with

And the dogs , bad neighbours, lads on motor bikes etc etc

But really it's the difficulty in selling anything at the moment which is the big problem...just imagine if you are in Peyia for a few years ...but fancy moving to Polis....virtually impossible if you own a property...just "rightmove" Paphos....1000's for sale in all price ranges

There is no answer to the condrum as what is correct for one will not be correct for another

All best Stuart

We are going to rent for the first 12 mths unless something exceptional come to the market at a sensible price

But each to their own

[Wee Stumpy]

Stu and Gill - it is also the maintenance costs when you own that can cost you a fair bit! Properties here do not age very well in my opinion so there is always something that you need to spend on! If you are renting you are supposedly free of this however if you are used to being an owner as we were for all our married lives , renting can be difficult as you tend to want things done what you want which isn't always what your Landlord wants so we found that on both our rentals we have spent money to make them how we want them so no easy solution!!

[Stu&Gill]

You are correct Shelagh and thanks for your thoughts
We like to keep our property looking nice and would inevitably pay to improve someone else,s property! Even as renters
But I can't get obsessed with that.....concentrate on the quality of life
Stuart

[juliesewell]

We were lucky, our landlord did what we asked him to do on our property during the 12yrs we were in it and we were paying a lot less than €700pm for a 3 bedroom semi-detached bungalow on the outskirts of Limassol (about 15 mins drive to work in the centre of town).

In the last 12 months however, there were a few issues coming to fruition caused by the previous tenant having put concrete over one of the downpipe drainage outlets and due to the previous winter being quite wet had raised damp issues along the back wall of the kitchen and a spare bedroom.

We realised we would be moving back to UK fairly soon so we didn't ask him to fix it for us we knew the sister who owned the property would be moving back to Cyprus later the same year we were leaving and wanted to have a new kitchen installed etc...

It really all boils down to what may be in your future plans (or not, as the case may be).... if like me, you still have parents growing older in UK when you leave then you never know what is down the road. My fathers' illness progressed very rapidly and completely overtook things within the space of 3 months of us leaving Cyprus this year. He's now full time in a nursing home. Both of my parents were in very rude health when we left them in 2004.

There's no way we could have left Cyprus and a property behind with our funds completely tied up in it. We were very lucky we still had some capital left from the sale of UK property 12yrs earlier which enabled us to get plans in place and make the switch back. We managed to purchase a property in UK in under 10wks from viewing it and had flights arranged for us and our dogs within 4 weeks of me leaving my Cypriot employer at the end of March.

Funny isn't it how in UK we're indoctrinated into buying rather than renting but overseas it's looked at quite differently. We knew we did not wish to rent coming back to UK and we were lucky we could carry out that plan.... No idea what we would have done if we'd purchased in Cyprus. Most likely I would have had to move back with my parents and hubby would have had to stay in Cyprus with the 2 dogs until the house sold. But, I was the main breadwinner in Cyprus so that would have been a bit of non-starter.

All depends on the individual circumstances at the time.... we can only give input based on our own personal experiences.

To each and every one of you who are going down the route, enjoy your journey!

It's one amazing experience but sadly it doesn't work for everyone. We've known a number of people who tried it and didn't like it or it wasn't the life they perceived and they left within the space of a few short years. And yet others are still there many years later (both renters and property purchasers).

[lynne1961]

There are no easy answers I guess & it's each to their own. I object to paying rent when I could use that money as an investment then again I may buy a property that becomes a millstone around my neck? Who knows what the future brings and sometimes we have to take a gamble and then deal with whatever life throws up at us as we go along. Life isn't a rehearsal (as far as we know!!). I really appreciate and enjoy reading all of your stories and helpful advice thank you

[galexinda]

I originally bought a property on a complex when I came to Cyprus and just about broke even when it was eventually sold. Now renting an apartment and happy my capital is no longer tied up in property. I would definitely recommend renting initially to anyone planning to live here as there are so many factors to be taken into consideration.

[juliesewell]

There are no easy answers I guess & it's each to their own.

That's correct Lynne, you just have to go with your gut feeling but also take on board the comments made from experience of others (both good and bad).

We sold our 2 bed terraced in the north west of UK and came out with a small lump sum after paying off the balance of the mortgage. We couldn't afford to buy anything outright in Cyprus and would have needed a mortgage there too. We held off for a couple of years while we were intending to purchase but unfortunately, we had a number of bad experiences with estate agents and sellers which left a bad taste in our mouths and we decided to continue to rent a bit longer. Then, as we were in the process of making our mortgage application, the company I was working for made 27 of the 30 staff in the Support team redundant.
I was lucky and was one of the 3 staff kept on. So perhaps my Aunty Polly was still looking out for me after all these years

We were also lucky that I worked from the very first Monday after we arrived in Cyprus in March 2004 and right up until the month before we left to go back to UK this year. It also meant we were able to save some money each month as well as keeping most of our funds in the bank with the exception of the purchase of 2 vehicles and some furniture (we rented unfurnished).

We also managed to pay off UK credit card balances, went on holidays outside of and also within Cyprus right up until 9yrs later when our "holidays" became winter ones spent in UK visiting my parents from November 2013 as my dad could no longer travel. Before that, my parents used to come to Cyprus for a month each November and then we used to visit them in Malta each February when they went there for a month too.

I guess we were some of the lucky ones....and we lived our life to the full at every opportunity but sensibly as I was still under the salaried amount to be liable for tax. Also, we did have some Cypriot friends who gave us valuable insight and information on what was good and what we should avoid in the lead up to our move. Cypriot friends who were also overseas colleagues in the UK company I worked for before the move and that we had known for the 10yrs prior to our move in 2004. In fact, we switched our initial plans to reside in Paphos to Limassol based on much of their comments and one not very nice experience of our own.

I also know of many who have been in and out of work (Limassol and Paphos based), have struggled to keep a roof over their heads, been sacked from work for no apparent reason having to sell their belongings to keep paying the rent, been told the landlord no longer wants to rent the property with only a month to quit and even that the house they bought is on a piece of land not separated by a title deed as they believed (bought through Cypriot "friends") and isn't worth the paper its' written on!

There are doom and gloom as well as good news stories all round
A bit like TripAdvisor - you have to decide which bits you can handle and which you cannot.

Barking dogs are the very least of worries when it comes to relocating overseas and I don't mean just the 4 walls that surround you but a whole life experience in a foreign country. Everything is "foreign" even though they speak to you in English and that Cyprus shrug.... well, you just have to smile through gritted teeth when it happens and let it roll off the proverbial ducks back. Because no matter how much you try to plan, there will always be the odd hiccup along the way...

The "buyers" will often tell you that you're not giving it a "proper" go or are not "committed" if you don't buy a property in Cyprus - take no heed, your decision will come from your gut. Even though we rented, we had nowhere left to run to if it all went bosoms up as we went "all in" by selling our UK property rather than keep it on standby as a bolt hole as many of the buyers have done.

What I will tell you is that our Cyprus move certainly gave us the lifestyle we needed whilst we were still in our early to mid 40s and we know that when the time comes, we will definitely be exploring pastures new in years to come.

Cyprus taught us that we were perfectly capable of standing on our own two feet on foreign soil and we will have no qualms in testing our resources again but it will be elsewhere rather than Cyprus, when the time arises.

We have no regrets about any part of our "Cyprus Journey"

[lynne1961]

Thanks jules an interesting read. We are taking early retirement so will not be looking for work and are confident that our pensions will cover our living expenses with a little bit to spare! This hasn't been an easy decision to make as we are leaving behind young grandchildren & family, but they are looking forward to extended holidays!
Life hasn't been very kind to us over the past couple of years and we both feel that we need to live for today not wait to see what tomorrow may bring, that's not to say we haven't done lots of soul searching and research into our move and we are both hopefully sensible enough not to make a huge mistake?!

[juliesewell]

We had similar decisions to make also... Life is for Living not living it or dancing to someone else's tune.

[Ian@tala]

We've been here just over a year and love it. I don't miss my commute to the City at all and i think it's fair to say early retirement suits me! My tips would be a) to open additional credit card / current accounts whilst you still have a permanent UK address and make sure you have cards that don't charge transaction fees . Halifax clarity and Nationwide are good ones. More importantly, depending on your age, health, and financial circumstances, if you think there is the slightest possibility that you may need to sell your Cyprus property in order to purchase one back in the UK, rent one here. As has already been said, whilst there some evidence is a pick up in transactions, you could easily find yourself stuck in an awkward place. There is a great selection of property available so it's easy to move around once you know what your priorities are and how you really want to live. Living here is not the same as coming on holiday, even on a regular basis. We used to comes 4 times a year, know loads of people and have a great apartment, but I rapidly discovered during an extended stay whilst our house was being built, that living there permanently did not suit me. The advice from your friends is invaluable but at the end of the day it has to be right for you.

Ian

[bnevi1]

Lynne

Have you thought about having a place in the U.K. and Cyprus and spending time in both? Perhaps you could have a smaller property in each country and then come and go as you please.

Just an idea and of course it may not be for you. We have an apartment in Cyprus and our house in the U.K. All being well we intend to keep both.

Good luck

Brian

[Maggie Bartlett]

Lynne,

We had a house in Tala and made the decision to come back to the UK in 2010 because of Tony's health and were extremely fortunate to sell our place within 4 months. We made a profit but only because we had bought in CY£ and sold in euros. If I was making the move again I would most definitely rent there as many of my friends have very successfully done and rent out my home here until I was absolutely sure that Cyprus was my forever home.

I really miss my friends, the lifestyle and of course the blue skies of Paphos and wish you both a very long and happy adventure in beautiful Cyprus.

Maggie

[Stu&Gill]

Lynne
Been away for a few days hence the delay in responding
DON'T buy a property in Cyprus as an investment........you may just as well burn £50 notes
Do buy a wonderful home........just do not expect year on year house price inflation as we expect in the UK

There are lovely people on this forum with more experience than me.....and a 50% loss in value for those who bought 10/15 yrs ago is not unusual....whereas my bungalow has increased in value by 3 times it's purchase price in 15 yrs

Just google Rightmove " Paphos". €200-250k.........pages and pages of properties all lovely but unsaleable as no or very few purchasers out there

Take the advice and rent first

We are in the same situation as you....we arrive on one way tickets 30th Nov......both having taken early retirement

All best Stuart

[Jim]

Stuart mostly agree with that although I intend to stay for good as I have, so renting will never be for me, regarding property sales they must be on the move on Cy as two bungalows by us have been sold recently, plus a large villa over the road from us, one to a Swede and the other to Russians, lots of interest in another that is on the market next to that villa, none have been given away.

I am very happy to have purchased my home over fifteen years ago, no rent to pay and it feels like my home. I guess it all depends on your life intentions, me I am here forever or until I expire, so it depends as it always has on your commitment to life on the Island. Some advocate two smaller homes, one here and one in the UK, a good idea if you can afford to do this but in my CL times this usually means from day one they have no intentions of committing to life here, do make sure family and UK friends are the reason not to stay, do understand you will miss your UK family, usually those that have done this miss life here, as I most certainly would, this is only my view, I do know renting seems to be the way, but I have never felt the need to give the landlord my money, all comes down in the end to your life commitment on Cyprus, not a long holiday!!


Unfortunately the Brexit vote has seen the demise it the £ to the € so buying a house with converted UK pounds to euros has meant buyers from the UK are not finding there way out here, understandably, but not all buyers are British!!

Good luck what ever you chose to do..

[Stu&Gill]

That's correct Jim

We are all different
But difficult to commit without living on the island firstly...it is going to be a totally different experience living here compare to our 2 sometimes 3 trips each year over the past 6/7 years

So we will rent to start with

But if we buy- and I understand all the personal reasons for doing so- It will only be for what I intend to pay in rent for the next 15 yrs or so...............although I do hope to last a few more years than that !

And even in that price range there is no shortage of available properties

You are correct about the Euro though

My generation of privately funded pensioners as distinct from Civil servants, teachers ,NHS staff and Local authority employees ...have seen our capital eroded- interest rates at an all time low and now the Euro will probably be at par once we exit the EU....but it will come back....years ago with young children in tow we were holidaying with the Euro virtually at par......................but 12 mths ago our friend bought in Tala at 1.44

Stuart

[tonee]

Hi
Why dont you invest the 200,000 euros off shore tax free for one year? 5% will give you more than enough to rent a top end villa for one year,see if life here is for you ,then after 12 months you can make up your minds,with collateral still intact.

[ASHTON]

We bought here 14 years ago.We believe the rental value of our property is around 700 euros per month.
That would have been up and till now 117,600 euros down the proverbial drain in rent.
An agent has said that in todays market we would probably or very nearly get the same price we paid for it. Mmmmm,rocket science ce

[lion]

And if you had your money in a UK property - rented out - how would it have appreciated in value and how much rental income would it have generated -

3.5 years ago we bought a property for £143,000 now valued at £195,000 since then it has generated £750 a month - no brainer really

[lefkes]

Hi
Why dont you invest the 200,000 euros off shore tax free for one year? 5% will give you more than enough to rent a top end villa for one year,see if life here is for you ,then after 12 months you can make up your minds,with collateral still intact.

Please tell us where offshore you can generate that sort of income on a 1 year investment?.
Lefkes.

[Stu&Gill]

I sincerely hope all members who wish to sell are successful.........................but I have been studying Rightmove for over 2 yrs now pending our move............there are still properties on there from when we first started looking...............................so a property can be personally valued at what you like.................actually selling it is a completely different matter.............that is the issue with purchasing

As to 5% overseas........................sounds a bit dodgy to me............has the advisor got any qualifications.............are they properly licenced

I will stick with Uk investments and my Premium Bonds!

[kili1]

Maybe it is possible to get 5% interest or more on an off shore investment or Fund. But generally when investing money a properly qualified Financial Investment advisor from a reputable company will ask you a series of questions aimed at you deciding whether you want to have low,medium and/or high risk investments and will then advise accordingly. Usually the level of risk will determine to some extent what percentage interest that you can expect. Not surprisingly low risk investments which are what they say - safer will have a much lower payback. Whereas high risk investments are more of a calculated gamble and as such you can hope for much greater returns - provided they perform as well as it is hoped!

Dee

[juliesewell]

Well we all know what happened during the Iceland collapse don't we?
And I'm not talking about frozen foods....

Safe money, sadly appears to be the best bet at the moment, I reckon.

[wensbry]

Stu & Gill

We will be making the move over on 2nd March and we have gone the other way.
We have sold here in U.K. and bought our forever (hopefully) home and will just deal with whatever the future throws at us.

I am a Financial Adviser and financially renting does not appeal to me, although I do appreciate that it can have its benefits.
We have a good few friends in Paphos, some own and some rent and they all claim to be happy with their choices.

Friends in Larnaca for ten years said that if you are serious about making it work then go all in, otherwise as soon as things get tough there is a temptation to go back.

As far as car insurance is concerned, we are shipping my wife's three year old beetle and there is little difference between Abbeygate and GAN and Abbeygate can do any driver for a little extra.

Either way, we wish you luck in your new life and hope that it works out for you and maybe we could meet up next year to see how you are getting on.

Steve

[Stu&Gill]

All understood Steve
Beware of some dodgy advisors on the island!
I asked one about his licence and CPD .... He actually said to me he didn't bother with that s**t!!

I retire from 39.5 yrs as a Chartered Legal Executive this coming Friday.....looking forward to our Cyprus adventure

We are deeming our next 12 mths as an extended holiday....with a view to making it full time next year

Luckily we are in a position to live in Paphos for 12mths without having to sell our UK property

Keep an eye on the forum and would welcome meeting up

I hope to get involved in the local music scene.......bit of a rock god trapped in the body of a lawyer!!

All best Stuart