Big fat Greek adventure; place in the sun Couple hope Cyprus flat will get them on UK property ladder.

Byline: Laura Davidson

Buying your first home together is a big step - especially when it is in Cyprus.

Steven White and Eilidh Mark decided buying abroad was a much better bet than jumping on the property ladder here.

So rather than a starter flat in Scotland, they are the proud owners of a luxury two-bedroom apartment near sun-drenched Larnaca.

Steven, 22, said: "We're not planning to move to Cyprus. We will still be living in Scotland with our respective parents.

"We'll hold onto the Cyprus flat for two years, then hopefully the money we make when we sell it will give us a heftier deposit for our first house in Scotland."

Steven, who works for an engineering firm, and 23-year-old hairdresser Eilidh could not find much within their budget in Scotland. Steven, of Dunbar and Eilidh, who lives in North Berwick, wanted to stay within East Lothian but even a really small onebedroom flat in their preferred area was around pounds 100,000.

Steven added: "To get something big enough we would have to take on a huge mortgage.

"Eilidh and I are still young, we want to go out and go on holidays and not be stuck in a situation where we were just working to pay the mortgage.

"This plan means we need to wait to get what we really want but I think it will be worth it."

Steven and Eilidh bought their apartment without having visited Cyprus but took advice from family and friends who raved about it. They bought through reputable agents, Investment Homes Abroad and Edinburghbased property consultants Mackenzie Macmillan.

The couple liked the idea that Cyprus is an established holiday destination as they plan to rent out their apartment.

After researching various sites, they opted for the Oroklini Hills 12 development, 18kms from Larnaca. They put down a 25 per cent deposit last September.

The three-storey luxury development will be complete by January next year.

Steven and Eilidh bought a two-bedroom apartment with an open-plan lounge, kitchen, dining room and large balcony. The pounds 105,000 price included a furniture package.

Steven added: "We've been kept up to date with the progress with photographs. It's great to see the place take shape. We've been able to choose the finishes from cupboards to floor tiles.

"Another incentive is the fact that rentals are guaranteed for two years and will cover our mortgage costs.

"We get 15 weeks per year to use the apartment and are definitely planning a couple of holidays there."

Signs are encouraging that prices will continue to increase in Cyprus. Some owners who have bought in the same development as Eilidh and Steven have put their apartments up for sale before building work is even finished at pounds 7000 more than they paid.

Steven added: "Buying your first house is daunting. We just need to keep our fingers crossed it all goes according to plan and that in a couple of years the place will have made us enough money to get our dream home in Scotland."

FACTFILE

The former British colony, which joined the EU in May 2004, is one of the most popular foreign hotspots with Brits. More than 60,000 people from the UK own a home on the island.

The Cypriot legal system is based on the British one. All contracts of sale are private agreements between the vendor and purchaser and must, by law, be in writing.

Always take independent legal advice from a local English-speaking lawyer, familiar with assisting non-Cypriots in purchasing property in Cyprus. Solicitors' fees are around one per cent of the purchase price.

Always ensure your lawyer has filed your contract of sale with the land registry as soon as possible but no later than 60 days after signing the contract.

For more details, contact Investment Homes Abroad on 0800 093 0960 or www.investmenthomesabroad.com

CAPTION(S):

Steven and Eilidh's luxury apartment is close to the sun-drenched resort of Larnaca; The area is full of character with old buildings such as Ayios Lazaros church; Investors Steven and Eilidh