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All reports tagged with: "borrowers"

No tax on mortgaged property sales

Those selling their mortgaged property in Cyprus to reduce or repay their mortgage debt will be exempt from paying capital gains, income tax, special defence contributions, as well as stamp duty and transfer fees.

Coops to offer defaulting borrowers a discount

The Cooperative Central Bank is to offer a scheme enabling borrowers to receive a discount of up to 50 per cent on unsecured, terminated loans that have not been serviced for 1,000 days.

Insolvency service ‘inundated’

The newly established Insolvency Service, which was set up by the Cyprus government as part of the insolvency framework agreed with the troika, has been inundated with requests for information.

Hourican lambasted by opposition parties

Bank of Cyprus CEO John Hourican has come under fire from opposition parties over comments attributed to him in a leaked email that said politicians are protecting larger businesses in Cyprus.

ECJ ruling protects consumers with Swiss franc loans

Consumers who received a loan in a foreign currency from a bank are protected from exchange rate fluctuations by a ruling of the European Court of Justice according to lawyer Pavlos Angelides.

Banks using threats and blackmail

Banks have been accused by the head of the Borrowers Association of misleading borrowers into signing whatever they suggest through unfounded lies, duress, threats and blackmail.

What is a floating charge?

Land Registry searches in Cyprus occasionally reveal floating charges/mortgages as encumbrances lodged against the title of a property; in this article Dr George Mountis explains.

Distressed borrowers threaten to revolt

As banks are taking defaulting borrowers to court rather than exhausting options under the Cyprus Central Bank’s directive on loan restructuring, distressed borrowers are threatening to freeze loan payments.

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