London businessman (Tony Barker now managing director) faced with unaffordable mortgage repayments following the slump in the Cyprus property market has reversed his financial situation (that) inspired the creation of a new service designed to benefit thousands of Britons with overseas properties they can no longer afford to keep but find impossible to sell....Marcus James Recovery charges the property owner a fee of £495 plus VAT to locate a suitable new investor. If it is unable to do so within six months, the owner can claim a refund of £345. All rights and charges associated with the property are assigned to the new investor who pays a one off fee of £5,250 plus VAT.

To provide a safeguard for the original owner if the new investor defaults on the mortgage repayments, ownership of the freehold is retained by the original owner until the balance of the mortgage has been paid off.

Meanwhile the new investor can occupy or let the property. If, in the longer term, the new investor wishes to sell the property before the mortgage has been repaid fully, the original owner is entitled to a 20% share of the difference between an agreed contractual figure and the price achieved.

Source-internet.

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