IT IS high time borrowers in Cyprus started meeting their obligations when it comes to their loan repayments, Bank of Cyprus CEO John Patrick Hourican said yesterday as he announced that foreclosures on property – including homes – were set to begin in May.
Speaking on the side-lines of a Wealth...
AROUND thirty auctioneers are polishing their hammers ahead of the second half of 2016, as bankers set their sights on large debtors.
There are about 3,000 foreclosures in the pipeline which have been pending at the Land Registry Department for years. Banks have been signalling publicly that primary...
THE CYPRUS Land Development Corporation (CLDC) has been allocated €2 million to implement the government’s primary-residence protection scheme for 2016, chairman Charalambos Petrides told lawmakers on Monday.
According to Petrides, the scheme is designed to help non-viable borrowers make...
CYPRUS is likely to successfully complete its bailout programme and receive the last tranche of international aid by the end of March, a senior euro zone official said on Wednesday, a move expected to lower the country’s borrowing costs.
The European Commission, the European Central Bank and the...
BANKS will be able to grant loans without collateral or guarantors under the new directive to be discussed between the Central Bank and financial institutions.
The draft directive was sent to market players on January 5 and aims at simplifying procedures for granting loans and relaxing criteria that...
