France has MP's for French expats in their parliament, and we believe that the British parliament should also have MP's acting on behalf of British expats interests.
Cyprus has been tarnished with a bad name with regards to people wishing to purchase property here. The title deeds fiasco has put off many potential property buyers. This has left the Cyprus property market in a downward spiral for a few years now.
The problem is that developers have loans outstanding to the banks. Thousands of people have bought property in Cyprus and have paid for the property in full. They are awaiting their title deeds to their property.
The developers have used the properties, for which people have paid in full, as collateral for loans. The banks are in effect the owners of the properties until the developers pay back their loans.
The Troika are putting pressure on the banks to make the developers pay back their loans. The banks are now having to begin seriously thinking about seizing the assets of the developers. This means the properties people have paid for too.
The banks will then try to sell the assets to recover the loans made to the developers. The assets are valued at far less than the loans outstanding, due to fall in property values. This could well mean that people will lose their homes. A tragedy waiting to happen!
Just imagine if you had MP's in the British parliament, who would look after expats interests, such as the title deeds fiasco here in Cyprus and the upcoming Winter Fuel Payment exclusion for Cyprus, to name just two high profile problems.
If you have been affected by the title deeds situation here in Cyprus, you may still ask your MP in the UK to help you. Your MP can only help you if you are still registered to vote in the UK. There is a ruling that if you have lived outside of the UK for more than 15 years, you are not eligible to vote in UK elections, therefore your MP will not be able to help you. We believe this is not correct, and should be changed.
British Expats in Cyprus may register to vote in the European Parliament elections in the UK. It is necessary to register as soon as possible before the deadline of 07 May 2014.
Join our campaign to keep our votes for expats abroad by signing the e petition here
You may find more information on how to vote in UK elections here
Please also sign the Create MPs for expatriates similar to the French model e-petition here
Have you been affected by the title deeds situation here in Cyprus? If you would like to tell us your story, please contact us here
© CyprusExpat.co.uk Jan 2014
