The government greenlighted the mortgage-to-rent scheme, the latest lifeline for defaulted borrowers, following approval from the European Commission. Government spokesperson Konstantinos Letymbiotis on Wednesday told reports the scheme will be going ahead.
Bank of Cyprus has a reward plan to compensate borrowers consistent with their mortgage instalments even though affected by rising interest rates by the European Central Bank. Phileleftheros daily said BoC would
The Central Bank of Cyprus warned households to be wary of interest rate options and clauses when negotiating a mortgage deal. In an announcement, the CBC said the upward trend in interest
The Finance Ministry is expected to table before the Cabinet a bill offering borrowers defaulting on their mortgages access to courts to challenge a foreclosure process of their home. The bill creates
Finance Minister Makis Keravnos’ efforts to convince banks to absorb shockwaves triggered by a hike in interest rates seem to be paying off, as banks agree to alleviate pressure on households. According
Finance Minister, Makis Keravnos, has asked the Association of Cyprus Banks and the Credit Acquiring Companies for measures to contain rising interest rates for loans up to €350,000 or borrowers will be
Brussels may not be keen on greenlighting the Mortgage-to-Rent scheme, the latest lifeline to defaulted borrowers, despite authorities declaring it is ready to go. News site Stockwatch reported the scheme has been
The Mortgage-to-Rent scheme, the latest lifeline thrown to defaulted borrowers, is going ahead, as KEDIPES, the state-owned Asset Management Company, announced its blueprint on Tuesday. Representing the former Coop Bank turned bad
Brussels hinted at approval for the mortgage-to-rent scheme for distressed borrowers, urging Cypriot authorities to create a company dedicated to managing it. The European Commission’s Directorate-General of Competition has instructed the Ministry
The Mortgage to Rent scheme, the government’s latest lifeline for distressed borrowers, is in rough seas after the Finance Ministry claimed to be in the dark over the exact number of eligible
