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Properties in Cyprus are not seriously affected by the credit crunch because the island does not rely heavily on international buyers, it has been claimed.

Such news may be welcome to those Britons who have secured a loan to buy a home overseas and are worried how far their money will go.

The market in Cyprus is not reliant on British buyers because many people who live there buy second homes for themselves, therefore bolstering the market from within, claims Cybarco.

"Cyprus now attracts a variety of buyers. Up until the autumn of last year, the British buyer was a major percentage; a very strong element in the purchase of properties in Cyprus," states Jonathon Salsbury, manager of Cybarco.

According to the Royal Institution of Chartered Surveyors' European Housing Review 2008, Cyprus appears to have the highest housebuilding rate per 1,000 populations in the EU, which could encourage Britons with secured loans who have the intention of buying a Mediterranean property.

Secured loans may be granted above other loans because of the security provided to a lender, which could be in the form of a current property.