{"id":111419,"date":"2025-03-10T17:40:19","date_gmt":"2025-03-10T15:40:19","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=111419"},"modified":"2025-03-10T17:40:19","modified_gmt":"2025-03-10T15:40:19","slug":"housing-finance-corporation-plans-e57-million-sale-of-non-performing-loans","status":"publish","type":"post","link":"https:\/\/www.lamaisonestates.com\/ru\/housing-finance-corporation-plans-e57-million-sale-of-non-performing-loans\/","title":{"rendered":"Housing Finance Corporation Plans \u20ac57 Million Sale of Non-Performing Loans"},"content":{"rendered":"<p>The Cyprus Housing Finance Corporation (HFC) is preparing to sell \u20ac57 million worth of non-performing loans (NPLs) from its \u20ac270 million portfolio, as revealed during a House Finance Committee meeting on Monday.<\/p>\n<p><strong>Key Details of the Loan Sale<\/strong><br \/>\nHFC Director General Christoforos Kaplanis announced that the loans included in the sale primarily involve:<\/p>\n<ul>\n<li>Primary residences valued over \u20ac250,000<\/li>\n<li>Other housing loans that do not qualify as primary residences, regardless of the outstanding balance<\/li>\n<\/ul>\n<p>Although the loan sale was originally planned for 2025, it has been pushed to 2026 due to delays in implementing government schemes designed to assist borrowers.<\/p>\n<p><strong>Government Schemes Affecting the Loan Sale<\/strong><br \/>\nTwo major schemes influencing the timeline include:<\/p>\n<ul>\n<li><strong>Oikia Scheme<\/strong> \u2013 Designed to manage loans granted under government housing initiatives<\/li>\n<li><strong>Mortgage-to-Rent Scheme<\/strong> \u2013 Allows vulnerable homeowners facing foreclosure to transfer their property to state-owned asset management company Kedipes while paying rent, with an option to repurchase the property after five years<\/li>\n<\/ul>\n<p>Kaplanis emphasized that without the full implementation of these programs, the final number of loans included in the sale remains uncertain.<\/p>\n<p><strong>Status of Loan Restructuring and Repayments<\/strong><br \/>\nHFC has been actively working on loan restructurings and repayments, achieving significant progress:<\/p>\n<ul>\n<li>1,334 loan cases settled in 18 months, including:\n<ul>\n<li>802 restructurings<\/li>\n<li>531 full loan repayments<\/li>\n<\/ul>\n<\/li>\n<li>NPL portfolio reduction:\n<ul>\n<li>2,100 loans in 2023 \u2192 1,660 loans in 2024<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Loan Approvals and Market Trends<\/strong><br \/>\nKaplanis also noted improvements in the loan approval process, reducing wait times:<\/p>\n<ul>\n<li>New loans are now processed within 3 to 4 months, compared to the previous 12-month timeline<\/li>\n<\/ul>\n<p>Additionally, HFC has seen a decrease in new loan applications and loan transfer requests from other banks, following increases in deposit and lending interest rates.<\/p>\n<p>Despite this, the organisation issued approximately \u20ac65 million in loans over the past year.<\/p>\n<p>HFC had previously received a high number of loan transfer requests from other banks due to its lower interest rates, but it was unable to accommodate all applications due to capital reserve limitations.<\/p>\n<p><em>Source: cyprus-mail.com<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The Cyprus Housing Finance Corporation (HFC) is preparing to sell \u20ac57 million worth of non-performing loans (NPLs) from its \u20ac270 million portfolio, as revealed during a House Finance Committee meeting on Monday. Key Details of the Loan Sale HFC Director General Christoforos Kaplanis announced that the loans included in the sale primarily involve: Primary residences [&hellip;]<\/p>","protected":false},"author":9,"featured_media":111420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/111419"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=111419"}],"version-history":[{"count":1,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/111419\/revisions"}],"predecessor-version":[{"id":111421,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/111419\/revisions\/111421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/111420"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=111419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=111419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=111419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}