Many foreign property owners have recently received recorded delivery letters from doValue in Cyprus.
If this happened to you, you may be asking:
– Who are doValue?
– Why are they writing after so many years?
– What should I do next?
At EU Property Solutions, we help people in this exact situation every week. Here’s what these letters mean and what you should know.
Who Are doValue?
doValue is a European debt management company. They handle non-performing loans and property assets for banks across Southern Europe.
In Cyprus, they act for firms that have bought old mortgage debts, including those originally held by Alpha Bank. If you borrowed in Cyprus, your loan may now sit with doValue or Sky CAC Limited (a subsidiary entity of Cerberus).
Why Have You Been Contacted?
Many buyers took out mortgages in Cyprus, often in Swiss Francs, to fund holiday homes or investments. When the market collapsed, repayments skyrocketed, leaving many unable to continue paying. Some people hoped the debt would simply disappear.
The reality is very different. The letters aim to locate borrowers in the UK and Ireland, initiate discussions about unpaid mortgage debts, and establish repayment arrangements, often within unrealistic timeframes.
Should You Respond To The doValue Letter?
Ignoring this letter is risky and may lead to legal action in Cyprus, as well as enforcement in the UK or Irish courts. When these loans are sold to vulture funds such as doValue, they will begin to add extra interest and costs to the original balance. However, with the right advice, it is possible to resolve these debts and protect your future and assets.
How EU Property Solutions Can Help
We’ve specialised in foreign mortgage and property debt problems for almost two decades. Our team understands the stress caused by sudden letters and demands.
Here’s why clients work with us:
– We’ve helped negotiate millions of euros in write-offs so far
– We explain options clearly, without legal jargon
– We focus on helping you move forward
If you have received a doValue letter, contact us today on 0330 124 1230.
