North Cyprus Property Victims | Regency Auction 3-8-14


North Cyprus Property Victims | Regency Auction 3-8-14

There is yet more news on the Auction front. A date has been set to sell an apartment block known as Regency.

Limassol bank gave a mortgage on this to the builder in 2006 in the sum of £130 000, so that amount, plus interest, plus costs, will be paid out to them and if there is any left the owners fortunate enough to have memorandum on it will receive what is left in chronological order. This means those that got in first will get first dibs.

How odd, I was vilified for taking a memorandum on land I subsequently found out was villas and owned by Brits. I did the right thing. Will those who did the same thing to their NEIGHBOURS be as generous with the proceeds, if indeed there is a surplus once the bank has received their coin.

The auction is scheduled to take place on 3rd August 2014

Limassol Bank were given an order against Sifa Timue the borrower and are exercising it by selling the property owned by more victims of the property scams of north Cyprus.

I said there will be more and this is just one of many to come. Whilst the new ‘transparent’ government talk about action, more victims suffer.

Transparent….yes…I can see straight through them.

Pauline Read

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