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Archive for April, 2014

Parliament lifts bank bailout burden from taxpayers

Depositors are to be better protected by one of a number of measures approved by the European Parliament earlier today and there will be less political meddling to keep ailing bank costs down.

Escape to Paphos

Cyprus is back on the UK overseas property map once again; the latest in a BBC series featured a programme on Paphos, while another to be broadcast on 22 April, focusses on Limassol.

You would be mad to buy a holiday home in Cyprus

You would have to be certifiably insane or just plain awash with money to even begin thinking about buying a holiday home in Cyprus; governments have really done nothing to resolve the Title Deeds disaster.

NPLs in the land of freebees and populism

Non-performing loans (NPLs) have reached €26 billion and continue their upward trend while property prices continue their downward march. Valuable time has been lost unnecessarily.

A meaningless exercise in financial futility

While in conversation at their club after a particularly satisfying luncheon, a few long-term banker acquaintances discuss the financial problems in the Cyprus property market as they sip their brandies.

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.

Second largest price fall in EU

Residential property in Cyprus recorded the second largest price fall in the EU 28 and the biggest price fall in the Eurozone annually according to a Eurostat report published yesterday.

Getting your Title Deed issued

Those waiting for the all-important Title Deed to be issued for the property they purchased can request the Land Registry to issue its deeds, providing a Certificate of Approval for the property has been issued.

State should buy non-performing loans say experts

In efforts to protect primary residence from repossession without bringing more trouble on the banking system, a senior government adviser said the state should buy non-performing loans.

Mortgage-to-rent scheme study

The Cyprus government has instructed the Cyprus Land Development Corporation (CLDC) to study the mortgage-to-rent scheme employed in Ireland to help those having trouble maintaining their mortgage repayments.

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