BRITONS WHO BOUGHT GREEK CYPRIOT PROPERTY IN THE NORTH START TO SWEAT

Concern that a possible Cyprus settlement could spell financial ruin is starting to worry hundreds of Britons who bought up property in the north. The Sunday Express reported this week. The paper said 2,000 British families who now live permanently in the north were either hoodwinked into buying property or knew full well the risks involved when they forked over the cash.

Of those families, only 25 resided in the north before 1974 Turkish invasion, while the overwhelming majority now lives in property legally owned by Greek Cypriots who were forced to flee.

European Court of Human Rights rulings have affirmed the rights of Greek Cypriots to their property in the north, while former Attorney General Alecos Markides has said Britons who purchased property stand to lose big time in the event of a settlement.

Bogus titles
It is understood that numerous Britons have purchased bogus title deeds from Denktash regime for Greek Cypriot property in the village of Karmi .

According to the paper, the problem becomes even more acute given the fact that many bought property from crooked British fugitives who sought refuge in the breakaway state and became involved in the real estate business.

In several instances, Britons knew they were buying Greek Cypriot owned property but never believed that the Cyprus problem would be solved.

The paper quotes Government Spokesman Kypros Chrysostomides as saying that it's natural that the legal owners of the property will take the necessary steps to reclaim their property. Some Britons purchased vacation homes in the north but don't live there permanently, including Tory MP John Corrie, who rents a villa at the bargain-basement price of 70 pence a year.

Lord Kilclooney, formerly Labour MP John Taylor, has declared his interests to the House of ommons to include "residential property in Turkish Republic of Northern Cyprus " reported to be two collages.

WARNING FOR BRITONS BUYING IN NORTH

The British Foreign Office has warned British citizens thinking about buying property in the Turkish-held north that they could run into legal trouble if and when a Cyprus settlement is reached.

A Foreign Office Commonwealth spokesman said London 's position remains unchanged from an earlier statement warning Britons of the legal implications involved witn buying up property in the north.

" We take the same position.. .warning British citizens planning to buy property in the north of various implications they may run into in the event of the Cypriot issue being resolved", the spokesman said. "Therefore, anyone planning such a move should seek legal advice beforehand", he added.

Nicosia has sounded the alarm over the boom in property sales in the north in recent months. Hundreds of foreigners, mostly Britons, have reportedly purchased new holiday homes in the north that are built on Greek Cypriot-owned property. The government suggested the boom may be owned to the mistaken belief that Turkish Cypriot acceptance of the UN reunification plan in the April referendums affords them legal cover when buying Greek Cypriot property.