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All reports tagged with: "banks"

Glimmer of hope for distressed borrowers?

A specialist property advisory company with significant experience in renegotiating property loans is now offering a service to distressed borrowers in Cyprus to renegotiate and reset their loan terms with the bank on their behalf.

Could Cyprus be the next domino to fall

In a programme first broadcast on the BBC News Channel earlier today, HARDtalk’s Stephen Sackur asks the former finance minister Michalis Sarris if Cyprus could be the next domino to fall in the Eurozone crisis.

Government steps in to shore up Popular Bank

The government has agreed to underwrite a 1.8 billion Euro share capital increase by the Island’s second largest bank, the Cyprus Popular Bank, to help it recapitalize and meet EU Banking Authority capital requirements.

Do not ignore Cypriot bank writs for loan non-payment

If you receive a writ from a bank in Cyprus for the non-payment of a housing loan / mortgage or a termination notice, the worst thing you can do is bury your head in the sand in the hope that the problem will go away.

Dreams of a home in Cyprus turn into a nightmare

British buyers seek redress as mortgage payments on their Cyprus properties double, Title Deeds fail to materialise and bailiffs threaten, alleging that Cypriot lawyers may not have complied with crucial legal formalities.

Alpha Bank moves to repossess homes built by Liasides

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.

Property prices will continue to fall says bank chief

Cyprus bank executives see a further deterioration in the Island’s economic conditions next year that they consider will further reduce liquidity, increase the cost of borrowing, and put further downward pressure on property prices.

The Greek haircut and the Cyprus real estate market

With the share price of one of the banks in Cyprus having fallen to a 12 year low, the repercussions of the 50 percent haircut on Greek bonds and now the possibility of Greece defaulting are devastating – and the Cypriot real estate sector is part of the problem.

Another Eurozone country bites the dust

What is unique about Cyprus’ collapsing housing bubble is a title deed scandal of unimaginable proportions. But now this nightmare is unravelling the finances of home buyers, developers, banks, and the government.

Banks not pressuring developers to service their loans

The fall in residential property prices that we reported on Thursday could have been even worse if the banks had pressed developers to service their loans by reducing new property prices still further to encourage sales.

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