Insider Economy 250 Estia scheme applicants eligible, House Committee hears

250 Estia scheme applicants eligible, House Committee hears

Of the 5600 applications submitted for Estia scheme, 507 applications were processed until last week, of which 250 are eligible, according to Michalis Kronidis, Director of the Association of Cyprus Banks.

Kronidis attended the House Committee on Finance which convened on Monday to discuss the issue. He also told the MPs that of the remaining 4,500 applications that were not completed, only 8% were fully completed with all the necessary data. The deadline for filing additional data expires on March 31.

A representative from the Ministry of Finance said that in relation with those applicants who are considered not eligible, the Ministry is examining some other alternatives, pointing out however that the whole discussion is still at an early stage and nothing concrete can be said at this point.  She went on to explain that all those borrowers deemed first not eligible would not receive a negative response from the Ministry of Labour and would be referred to the Ministry of Finance which will finalize the reply.

Responding to questions from MPs as to whether house foreclosures still take place, she said that some were stopped by the Ministry which contacted the banks.

Stavros Papadouris, chairman of the association for the protection of primary residence said that legal foreclosure measures were still in progress, adding that for the same case there is an application for the Estia Scheme dated December 24, 2019 and a Court call dated January 18, 2020. He also asked for an additional period of one or two weeks to allow some borrowers to apply for the Estia scheme, who for various reasons, were not able to do so on time.

According to Papadouris on March 19, there was an auction for first residence, worth 220,000 euros.

SYPRODAT Director Jenny Papacharalambous also said that some borrowers contact the Association saying that they applied for the Estia and at the same time they are faced with charges in court. She also said that banks still send letters to borrowers, despite their commitment, that they would not do so.

(Cyprus News Agency)

Top Stories

SMS: For the first time, physical exercise first

The Deputy Ministry for Innovation and Digital Policy released data regarding sms movement requests during the weekend from Friday until Sunday (22-24 January) What is...

1,100 appointments for over 90 booked so far

As of this morning, the Vaccination Portal is available for citizens over 90 years of age. According to the Health Ministry, until 1:00, some 1,100...

Hooded persons throw stones against firemen and policemen

Around 18:00 on Sunday the Police received information about a fire in the yard of a school in Lakatamia. Members of the Police and...

Annita Demetriou: Increased efforts to improve students’ performance

The need to increase efforts in order to improve the efficiency of students and the performance of the education system was stressed by Annita...

An additional batch of 1,170 doses of Pfizer – BioNTech vaccines delivered to Turkish Cypriots

An additional batch of 1,170 doses of Pfizer – BioNTech vaccines were today delivered to Turkish Cypriots at Agios Dometios crossing point, through the...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...