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Have You Received A Baker Tilly Letter?

11 January 20243 min readby Tom Miskelly

Cyprus

Should I be worried?

Have you received a Baker Tilly letter? Recently, EU Property Solutions has seen an influx of enquiries from clients requesting assistance with one major issue. They have been on the receiving end of debt-related correspondences from Baker Tilly in Cyprus. This article aims to address the concerns of those affected, offering clarity on Baker Tilly’s role and intentions in the context of historical Swiss Franc housing loan issues in Cyprus.

Who are Baker Tilly?

Baker Tilly are a full-service accounting and advisory firm with offices in Cyprus, the UK, and the Balkans. Baker Tilly’s credibility is underscored by their engagement with Alpha Bank and other Cypriot banks. They have been entrusted to assist in resolving historical Non-Performing Loans (NPLs) tied to Swiss Franc mortgages.

Why has Baker Tilly contacted you from Cyprus?

The primary purpose of Baker Tilly’s outreach is to identify clients of Alpha Bank in the UK and initiate discussions. This could be to explore potential solutions for historical issues related to Swiss Franc mortgages in Cyprus. This communication serves as an opportunity for property owners to address issues relating to their Cypriot property that might have been overlooked in the past.

What do these letters from Baker Tilly look like?

Click here to see an example of a Baker Tilly letter. These detailed letters from Baker Tilly usually include your name, property development, value owed to creditors and next steps.

They will also outline the debt owed and the very limited timescales you have to pay by.

Can A Letter from Baker Tilly Be Ignored?

Property owners must recognise the implications of non-engagement with Baker Tilly. Baker Tilly’s involvement is geared towards reaching settlements with individuals regarding unpaid debts on Swiss Franc mortgages in Cyprus. Ignoring their outreach and failing to explore options may prompt Baker Tilly to further escalate the situation. This may be in the form of initiating legal action in the UK via the Cyprus Court, pursuing the full amount owed along with interest and costs.

What to do if you have received a Baker Tilly letter.

Receiving communication from Baker Tilly regarding historical mortgage debts in Cyprus opens a window for property owners to engage with longstanding issues. Contrary to assumptions that such matters will simply fade away, Baker Tilly’s outreach highlights the ongoing relevance of these concerns, and we implore you to be proactive about this.

How Can EU Property Solutions Assist You?

Since 2008, EU Property Solutions has been a reliable ally for individuals navigating challenging mortgage situations in Cyprus and across Europe. Our team of legal experts in the UK and Cyprus is well-versed and ready to guide you through this intricate scenario. If you have received a letter from Baker Tilly, our specialist legal team is prepared to assist. Moreover, we offer a *No Win No Fee option (*subject to conditions), ensuring charges are only incurred if we successfully resolve your foreign property issues.

Conclusion

Your trust is paramount to us at EU Property Solutions. We are dedicated to supporting you at every step of this process.
If you have any questions or concerns, please do not hesitate to contact us. Your peace of mind is our priority.

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