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Cyprus to expand mortgage relief scheme

Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who...

1647 Estia applications, 350 rejected

To date, 1,647 borrowers have applied to be included in a state-backed mortgage relief scheme Estia, with 350 already...

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.

Cyprus urged to implement mortgage directive

The European Commission (EC) has given Cyprus and eight other EU member states two months to implement the regulations of the European Union on mortgages if they want to avoid going to the European Court of Justice.

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.

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