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All reports tagged with: "mortgage"

Hellenic bank violated consumer rights

The Cyprus Consumer Protection Service has ruled that the Hellenic Bank violated consumer rights with abusive clauses in mortgage contracts and imposed charges for early debt repayments.

Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.

Hidden mortgage breakthrough

Interior Minister Socratis Hasikos has announced that the government intends to introduce legislation to resolve the ‘hidden mortgage’ problem that leaves thousands of buyers unable to get Title Deeds.

Cyprus mortgage scam

A question on the Cyprus mortgage scam has been raised in the European Parliament by Jonathan Arnott MEP, for the North East England region for the United Kingdom Independence Party.

No repossession of paid for properties

The troika have advised the government that properties that have been paid for but no Title Deeds have been issued could be exempted from repossession under the provisions of the controversial foreclosures bill.

Mortgage-to-rent scheme will be selective

Strict criteria will be applied to a mortgage-to-rent scheme currently being investigated as a means to enable those unable to maintain their mortgage repayments to remain in their homes rather than face its repossession.

Land registry’s hands tied on foreclosures

Property foreclosures have already begun but the land registry’s deputy director was unable to confirm whether they relate to primary residences as precisely what constitutes a primary residence is unclear.

EU-wide mortgage credit rules adopted

The EU has adopted a new directive aimed at creating a single market for mortgage credits in the EU, with a high degree of consumer protection that will come into force in all Member States in two years.

Open letter to John Hourican

In an open letter to John Hourican, the CEO of the Bank of Cyprus, a buyer from Scotland asks if the bank intends to call in the security it holds on homes to help repay developers’ debts.

Government plans to offer homeowner rescue scheme

The House Human Rights Committee has heard that the Cyprus government is planning to offer a rescue scheme to help homeowners who are unable to maintain their mortgage repayments.

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