Latest Headlines

All reports tagged with: "estia"

Estia applicants hit 50% of eligible borrowers

Applications for the Estia programme, which aims to assist home owners with non-performing mortgages by providing government support, have been submitted by more than 50 percent of those eligible.

BoC to repossess non-Estia protected properties

The Bank of Cyprus (BoC) will repossess properties if their owners do not apply for protection under the Estia scheme; it’s only received 487 applications from an estimated 2,500 eligible owners.

Estia scheme falling flat on its face

The Cyprus non-performing loans scheme, Estia, is probably falling flat on its face; applicants need to complete 30 pages with their family income and property details and include 40 to 50 other documents.

ESTIA debt relief scheme failing big time

With only 3% of loan defaulters applying for the government’s ESTIA debt relief scheme, economics professor Stavros Zenios from the University of Cyprus, tweeted the scheme is “failing BIG time.”

Strategic defaulters and sovereign corruption

The government backed Estia scheme enables those who have deliberately defaulted on their housing loans, i.e. strategic defaulters, to apply for mortgage relief but such flagrant fraud ought to warrant criminal investigation.

Estia mortgage relief scheme launched

The Estia mortgage relief scheme was officially launched today to assist, support and protect vulnerable households who have mortgaged their primary residences for their loans and reduce the high number of bad debts.

Back to top