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Bank contracts for buying property

Bank contracts for buying property

The House of Representatives plenary unanimously voted on Friday two bills into law, thus transposing EU rules into national law on contracts with credit institutions for the purchase of property.

The new legislation regulates mortgages which relate to property which will be the residence of the consumer, as well as credit contracts without collateral for amounts over €75,000 on the renovation of property which is used as a residence.

The two bills had to be voted today, because as House President Demetris Syllouris explained addressing the plenary, the Republic of Cyprus is in danger of… [Read Full Article]

 

© Cyprus Daily

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