CyprusLiving

Does anybody have recent experiences if there is a chance of getting a decent discount if you repay a loan prematurely? Having the possiblity to sell a piece of land for a price that would cover around 75% of the loan amount while at the same time there is the risk that we won't be able to pay instalment anymore -due to personal circumstances- from next year. The price we can get is not really the best but we would consider it if it would exempt us from the monthly instalments.
Just want to know if it's worth to propose paying the 75% to the bank and get rid of the loan? If anybody had a success with that, please give us a hint (also via pm). Thank you.

Hi Gisela.. Would it not really be better to go and have a chat with the Manager at the bank concerned.

Good Luck. Trev..

Exactly as Trev says - also check there's no penalty for early repayment!

We certainly will talk to the manger and we also know ''penalties'' in the contract.
Question was if anybody had a successful experience with that and maybe a hint......
Somebody told me that under special circumstances banks agree to such an arrangements, so we want to be well-briefed.

It certainly would 'help' you if someone had made a similar arrangement in the recent past

Trev..

That would actualy be fine