PRESIDENT Nicos Anastasiades has rejected a bill banning banks from repossessing homes that owners have paid for but have no title deeds because of developer mortgages, judging it to be in violation of the island’s bailout agreement.
In a letter to parliament on Friday, Anastasides said the bill,...
THE implementation of the five bills comprising the insolvency framework, which is vital for the next tranche of Cyprus’ bailout loan, has been delayed again.
Parliamentary Finance Committee President Nicholas Papadopoulos said that the bills will not be brought before the House plenum on 2nd...
EVIDENTLY tens of thousands of mortgaged properties have been sold to unsuspecting buyers by property developers, some of whom are currently unable to service their loans.
In efforts to identify the size of the problem the Phileleftheros has been trying to obtain information from the banks and the...
PARLIAMENT on Thursday voted to ban foreclosures of homes whose owners could not acquire title deeds and could be at risk of losing their property because the developers could not repay their loans or have become insolvent.
The proposal was submitted by main opposition AKEL.
It was approved by 23...
A DESPERATE home owner who could no longer afford to repay his loan walked into a branch of the Bank of Cyprus in Limassol earlier today and handed the keys of his house to bank employees.
The 35 year-old said that he was paying €350 a month for the repayment of his Swiss Franc loan but that the...
