EU approves €50m scheme for distressed borrowers
The European Commission has approved a €50.6m government scheme providing partial debt write-off to distressed, socially vulnerable borrowers with loans secured by primary residences, it...
borrowers
Borrowers group calls for speedier justice system
The head of the Association for the Protection of Borrowers (Syprodat), Costas Melas on Wednesday called for a speedier and more effective court system in settling...
2,000 borrowers at housing finance corporation could meet Estia criteria
Some €200m in non-performing exposures (NPE) at the Housing Finance Corporation are expected to be placed under a government debt relief scheme for vulnerable homeowners,...
Disy-Diko prepare package to reward reliable borrowers
By George Psyllides RULING Disy and opposition Diko have joined forces to prepare a “social package” that will include a cut in fuel tax and...
A new reality for borrowers
‘You wouldn’t believe what kind of breaks they used to get from banks’ By Elias Hazou LOAN defaulters expecting more flexibility from debt collection agencies...
Borrowers’ group says banks piling on the pressure
The chairman of a borrowers’ protection group said that banks were piling on the pressure on non-paying customers in recent days after the parliament modernised...
Scores gather to protest against foreclosures
Brandishing placards reading ‘No home should go to the bankers’, some 250 people gathered outside the presidential palace in Nicosia on Thursday, protesting against coming...
MPs wrap discussions on leasing as an alternative to mortgages
MPs on Monday wrapped up discussion of government bills introducing leasing as an alternative method of borrowing, hoping to take the legislation to the plenum...
BoC sets up Unit to manage real estate acquired from distressed borrowers
By Gregoris Savva Bank of Cyprus has set up a Real Estate Management Unit (REMU) deploying another tool that would assist the island`s largest lender...
BoC says only going after rogue borrowers
By Angelos Anastasiou The Bank of Cyprus has kicked off the process of liquidating foreclosed properties, exempting – for the moment – primary residences and...
Bank of Cyprus to initiate foreclosure procedures
By Stelios Orphanides Bank of Cyprus will be likely the first lender in Cyprus to seek to foreclose collateralised real property in more than two...
Not all borrowers benefit from rate cuts
By Staff Reporter Some borrowers will benefit to the tune of around €165 million from the recent cuts in interest rates, but not all, the...
Hourican under fire from opposition parties (Updated with bank source)
By Jean Christou and Stelios Orphanides Tensions over the foreclosures bill rose on Friday when opposition parties slammed Bank of Cyprus CEO John Hourican over...
Repossession law suspension only does harm
By George Psyllides Suspension of the foreclosures law only did harm to the country, the borrowers association said on Friday, adding its voice to those...
Banks misleading borrowers over restructuring loans
By Angelos Anastasiou BANKS AND cooperative credit institutions do not follow the Central Bank of Cyprus’ (CBC) Code of Conduct in restructuring loans, and all...
Single borrowers’ registry by month’s end
THE integration of the borrowers’ registries kept by co-ops and commercial banks will be completed by the end of the month, it emerged on Wednesday, as...
Hellenic Bank also offering distressed borrowers more favourable terms
By Angelos Anastasiou On the heels of announcements by the Bank of Cyprus and the Co-operative Central Bank offering distressed borrowers more favourable repayment terms...
Borrowers call for foreclosures bill to pass
By George Psyllides Political expediencies were behind party opposition to the foreclosures bill, the head of the association for the protection of borrowers said on...
Cabinet approves additional measures to protect borrowers
By George Psyllides The cabinet on Wednesday approved additional measures to protect borrowers and primary residences as the government seeks to allay party concerns over...
Insolvency councillors key to passing foreclosures bill
By George Psyllides ONE of the additional bills expected to be submitted by the government in an effort to achieve approval of the controversial foreclosures...