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19th April 2024
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Final solution for trapped buyers?

The Finance Ministry is seeking a final solution that will enable trapped buyers who were duped into buying property built on land that their property developer had previously mortgaged to the bank to get their Title Deeds.
News

Reprieve for trapped buyers

The Cyprus government has vowed to continue issuing Title Deeds to trapped buyers despite the recent court rulings that left them in legal limbo according to a report in the Cyprus Weekly.
News

Banks to take hit on Swiss Franc loans?

The majority of the House Finance Committee wants the Cyprus banks to take a hit of around €170 million on €1 billion of Swiss Franc housing loans despite objections raised by the Cyprus Central Bank.
News

Banks to recoup loans by ‘hook or crook’

Banks must find a way to recoup loans granted to insolvent developers once 'trapped' properties are released to home buyers, Interior Minister Socrates Hasikos said following a joint session of the House interior and finance committees.
News

Draft loan sales bills leaked

Details of the draft legislation designed to facilitate the sale of bank loans (one of the pre-conditions for Cyprus to receive the next tranche of the bailout loan) has been leaked to the media.
News

MPs focus on foreclosure regulations

Cypriot MPs are continuing their discussions on the rules regulating the auctioning of properties that will enable the new repossession laws, which were passed in April, to come into force.
News

Insolvency framework bills passed

After the usual shenanigans we've come to expect from opposition parties and endless debates, the five bills comprising the insolvency framework were passed by a plenary session of parliament earlier today.
News

Bank loans of up to €15,000 will be written off

Bank loans of up to €15,000 will be written off if low income borrowers can demonstrate their inability to service them under the provisions of the insolvency framework being discussed by the House.

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