Notifications to borrowers for property alienation sending the three major banks Cyprus

Tuesday, August 18, 2015
The three big banks, Cyprus, Greek and Cooperative, began to send letters-notifications for the sale of mortgaged property for loans not serviced for which there are final decisions, after activation of the provisions of the law today.
Today the Cooperative announced that it sent 300 letters for properties ypothikefthikan for loans of 75 million. Euro. From divestments excluding first homes and properties belonging to vulnerable groups. By the end of the year will be sent other 300 letters from the Cooperative, also property constituting claims around 75 million. Euro.
Moreover, sources of Greek Bank said they initially promoted divestitures real, for which there are final judgments. Already informed interested parties were invited to proceed with settlement, while, of refusal, the bank will proceed to divestments in the new law.
BOC promotes divestitures 25 cases, which relate to commercial real estate and land worth 84.9 mil. Euro. For these cases decisions were before the 2013 measures.