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20th April 2024
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Tag: mortgage

News

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.
News

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.
News

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.
Legal Matters

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.
News

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.
Legal Matters

Mortgage regulation tightened

The Mortgage Credit Directive 2014/17/EU aims to enhance consumer protection for those buying residential property and should end devious banking practices in Cyprus and other EU member states.
News

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.
News

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.

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