A new window is reopening for Cyprus’ “Mortgage to Rent” scheme, with the Finance Ministry announcing that applications will once again be accepted for vulnerable borrowers struggling with nonperforming loans tied to their primary residence.
Applications will open on Monday and remain open until July 31.
The relaunch comes at a time when Cyprus’ foreclosure framework has once again come under public and political scrutiny, with lawmakers discussing changes aimed at strengthening protections and support measures for vulnerable borrowers.
The scheme is designed to help socially vulnerable homeowners whose primary residence has been used as collateral for a nonperforming loan.
KEDIPES, the state-backed asset management company responsible for implementing the scheme, confirmed the reopening, echoing reports first published by Kathimerini in March about plans to bring the program back.
The decision to reactivate it follows months of discussions in the House Finance Committee, where MPs examined ways to improve the foreclosure framework and expand support tools for financially vulnerable households.