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Court bans banks foreclosing

The Larnaca District Court has banned banks from foreclosing on properties used as collateral for loans for which courts gave the go ahead before the new foreclosure law came in effect last year.

Bill to curb bank usury

A vote on a bill to abolish unfair bank charges, such as a fee to monitor loan transaction history, insurance, added interest rates and other hidden charges, will take place at a plenary session of the Cypriot parliament next week.

Home repossession ban extended

Parliament passed a bill by the slimmest of majorities to extend the ban on repossessing homes whose purchasers have no Title Deeds even though they may have paid for them in full.

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