What Can Cyprus Expect From the EC Ruling on the Estia Program?

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The Cyprus Cabinet of Ministers was presented with an updated version of the Estia program, designed to help borrowers who are not able to make payments on mortgage lending.

However, despite the approval of the program by the government of the country it cannot be applied without the approval of the European Commission.

We would like to remind you that the program will be applicable to those loans the value of mortgage real estate for which does not exceed €350 thousand euros. The island’s authorities intend to provide such borrowers with a monthly financial assistance in the amount of one-third of the mortgage loan cost.