EU blocks ‘generous’ mortgage-to-rent scheme

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EU blocks ‘generous’ mortgage-to-rent scheme
 © CyprusPropertyNews 2022
Brussels has told Cyprus to hold its horses over a fresh attempt to throw another lifeline, a mortgage-to-rent scheme, to distressed borrowers to help them keep their homes and small businesses.

Nicosia had been preparing a mortgage-to-rent scheme to cover non-performing loans collateralised by primary residences and businesses, mainly SME premises, with a value up to €350,000.

However, as conveyed to the Finance Ministry, Brussels has demanded that the scheme only cover borrowers with homes worth under €250,000.

The Directorate-General for Competition (GDA) of the European...

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Article automatically added to our system on Friday, July 1, 2022

EU blocks ‘generous’ mortgage-to-rent scheme

Contents of this article including associated images are © CyprusPropertyNews 2022
Views & opinions expressed are those of the author and/or CyprusPropertyNews .

Article Tags: #blocks   #generous   #mortgage   #scheme  

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