All reports tagged with: "hidden mortgages"
Following the many emails I’ve received this article explains how buyers may apply for the Title Deeds to the property they purchased under the provisions of the ‘hidden mortgage’/’trapped buyers’ law.
The Cabinet has approved the Title Deed regulations needed to implement the ‘hidden mortgages’ law to protect home buyers in Cyprus who were duped into buying property that developers has previously mortgaged to the bank.
We have to ask the question who is the Cyprus parliament trying to protect following the decision of the House Finance Committee not to put the ‘hidden mortgages’ bill before a plenary meeting of the House.
A vote on the ‘hidden mortgages’ bill designed to resolve the mess of those who have paid for their property but cannot get its Title Deed because it was mortgaged by the developer will take place in September.
Cypriot MP Giorgos Perdikis has defended the delay in passing the ‘hidden mortgages’ bill saying that “If they (the government) had wanted the (title deeds) bill expedited they should have asked.”
The Cyprus Interior Minister Socratis Hasikos slammed MPs for shelving the Title Deeds bill designed to address the inability of home buyers to get the deeds to the property they purchased.
The bills designed to rationalise Cyprus’ various property taxes and address ‘hidden mortgages’ agreed by government will not be put to a plenary meeting of the House this Thursday as planned.
Interior Minister Socrates Hasikos has announced that the basis of the bill to resolve the ‘hidden mortgages’ problem that prevents thousands obtaining Title Deeds to the property they purchased has been agreed by the Cabinet.