Swiss mortgage in Cyprus?

I came across this story of a couple who have bought a property in Cyprus using a Swiss Mortgage.

Lorraine and Tommy Duncan are soaking up the sun in their Cyprus holiday home – thanks to a Swiss mortgage.

Lorraine, 41, and Tommy, 55, had fancied taking a leap on to the foreign property ladder for a while.

They were unsure how far their modest budget would stretch but after an inspection trip with Atlas International, they have snapped up a two-bed apartment in Cyprus for just over £100,000.

The Duncan’s put down a 20 per cent deposit on the property, which cost £82,915CY (£105,649).

They are paying the balance by taking the unusual step of opting for a mortgage that will be repaid in Swiss Francs.

Lorraine said: “Because I’m a mortgage advisor I knew that taking a mortgage in Britain or in the country where you’re buying isn’t always the best option.

“The Swiss mortgage has a low fixed rate of interest.”

You can read the rest of the story at

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