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All reports tagged with: "mortgage"

Poles with loans in Swiss francs win EU case

Around half a million Polish homeowners with Swiss franc loans have won their case in the European Court of Justice, which has ruled they can ask the Polish courts to convert their loans into the Polish Zloty.

Developers seek to self-finance projects

Property developers are looking to self-finance construction projects due foreign investors fearing possible difficulties obtaining Title Deeds if developments are mortgaged and banks imposing stricter criteria for granting loans.

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.

Hellenic bank violated consumer rights

The Cyprus Consumer Protection Service has ruled that the Hellenic Bank violated consumer rights with abusive clauses in mortgage contracts and imposed charges for early debt repayments.

Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.

Hidden mortgage breakthrough

Interior Minister Socratis Hasikos has announced that the government intends to introduce legislation to resolve the ‘hidden mortgage’ problem that leaves thousands of buyers unable to get Title Deeds.

Cyprus mortgage scam

A question on the Cyprus mortgage scam has been raised in the European Parliament by Jonathan Arnott MEP, for the North East England region for the United Kingdom Independence Party.

No repossession of paid for properties

The troika have advised the government that properties that have been paid for but no Title Deeds have been issued could be exempted from repossession under the provisions of the controversial foreclosures bill.

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.

Land registry’s hands tied on foreclosures

Property foreclosures have already begun but the land registry’s deputy director was unable to confirm whether they relate to primary residences as precisely what constitutes a primary residence is unclear.

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