12° Nicosia,
22 May, 2024

KEDIPES calls for stability in foreclosure framework to safeguard borrowers' homes

Chairman highlights urgency in maintaining loan portfolio management consistency


Lambros Papadopoulos, Chairman of the Board of Directors of KEDIPES (Cyprus Asset Management Company), emphasized the importance of maintaining consistency in the 2018 divestment framework within the Parliament.

Speaking to Oriana Papntoniou on DIASPORA NEWS on Spor FM, he stressed that this consistency is crucial for the effective management of KEDIPES' entire €2.0 billion loan portfolio, particularly regarding state aid repayment. Any significant deviations from the framework could disrupt KEDIPES' plans and its ability to manage loans secured by citizens' first homes.

Papadopoulos also provided insights into the Rent to Mortgage Scheme, revealing that preparations for its implementation are nearly complete, involving various technical, legal, and procedural aspects. KEDIPES has set aside a special cash reserve of €60 million to support the Plan, which is expected to be officially launched in the coming two weeks and will remain open for nine months.

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