Latest Headlines

All reports tagged with: "banks"

Do not ignore Cypriot bank writs for loan non-payment

If you receive a writ from a bank in Cyprus for the non-payment of a housing loan / mortgage or a termination notice, the worst thing you can do is bury your head in the sand in the hope that the problem will go away.

Dreams of a home in Cyprus turn into a nightmare

British buyers seek redress as mortgage payments on their Cyprus properties double, Title Deeds fail to materialise and bailiffs threaten, alleging that Cypriot lawyers may not have complied with crucial legal formalities.

Alpha Bank moves to repossess homes built by Liasides

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.

Property prices will continue to fall says bank chief

Cyprus bank executives see a further deterioration in the Island’s economic conditions next year that they consider will further reduce liquidity, increase the cost of borrowing, and put further downward pressure on property prices.

The Greek haircut and the Cyprus real estate market

With the share price of one of the banks in Cyprus having fallen to a 12 year low, the repercussions of the 50 percent haircut on Greek bonds and now the possibility of Greece defaulting are devastating – and the Cypriot real estate sector is part of the problem.

Another Eurozone country bites the dust

What is unique about Cyprus’ collapsing housing bubble is a title deed scandal of unimaginable proportions. But now this nightmare is unravelling the finances of home buyers, developers, banks, and the government.

Banks not pressuring developers to service their loans

The fall in residential property prices that we reported on Thursday could have been even worse if the banks had pressed developers to service their loans by reducing new property prices still further to encourage sales.

Vanishing Cyprus: bank domination

In this article from his Vanishing Cyprus series, Andreas Chrysafis considers the developing banking situation and asks the question which government dares to do the right thing?

Ceiling set on value of Swiss Franc

The Swiss National Bank has set a minimum exchange rate of CHF 1.20 to the Euro and said that it will enforce this minimum rate with the utmost determination.

Foreign currency mortgages turn sour

Buyers advised to take out home loans in Swiss francs to buy property in Cyprus are struggling to repay and face repossession and ruin as exchange rate movements send their mortgage repayments soaring.

Back to top