Loans

Italian debt recovery company doValue, which is also active in Greece, plans to diversify its sources of revenue beyond non-performing loans, its CEO said on Friday, after it reported a €19 million net loss for 2023.

Banks are responding to the climate of caution among households as regards taking out a loan with new cuts in mortgage rates, in a bid to spark the interest of potential new buyers. They are also extending, until the end of the year, the interest rate freeze in force since last May for existing borrowers.

The governor of the Central Bank of Cyprus has dispatched crucial correspondence to banks and credit repurchase companies shedding light on the strategy for restructuring nonperforming loans (NPLs) and navigating credit risk management.

The Bank of Greece, in cooperation with lenders, is establishing limits on mortgage amounts in relation to the commercial value of the property and the monthly installment to be paid by the new borrowers.

It was decided that the Hellenic Corporation of Assets and Participations (EESYP), widely known as Hyperfund, was to be established in August 2015 as part of the agreement with the country's European lenders for the 86-billion-euro loans of the third bailout agreement.

According to Yavor Peychev, CEO of "Imoteka" a part of the "Realto Group", Bulgaria can expect a stable year, with the number of real estate transactions remaining similar to that of 2023, and a gradual increase in prices for quality newly-built properties in major cities. This information was shared during the presentation of data on the current state of the market to journalists.

The Hellenic Development Bank (EAT) will activate the third edition of the Entrepreneurship Fund (TEPIX III), with a total budget of 500 million euros.

It aims to support entrepreneurship with loans and guarantees of a total amount of €2.2 billion through the leverage of funds from the banks as well.

Cyprus' Parliament has given the green light to a groundbreaking law aimed at empowering homeowners and offering relief in the face of mortgage challenges.

The legislation enables the suspension of home sales through the innovative Mortgage-to-Rent Scheme and objections to participation in the program.

This year's first Economy Coordination Board (EKK) meeting has been held, with regulations on crypto currencies topping the agenda.

Members of the board met on Jan. 22, chaired by Vice President Cevdet Yılmaz, to discuss the latest developments in the Turkish and global economy.

Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans.