Cyprus Property Forum for Buyers, Sellers & Investors

Hi all

Can anyone advise what the foreclosure process is like? I am not familiar with Cyprus legislation, but it appears that the banks can't foreclose on the primary residence? If so, what happens with the non performing loan properties, the owner stops servicing the loan and the bank has no recourse against them? Is there a time limit to this, or do NPL just accumulate on banks books and jam the future lending/ construction activity?

Hi justchris and welcome to the forum.

I published an article just over a year ago that may help - Guidelines on restructuring loans.

Maybe someone else can advise on the detail.

Regards,