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Relaxation Of Loan Limits On Second Properties.

Publication: Mondaq Business Briefing
Publication Date: 23-JUL-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Relaxation Of Loan Limits On Second Properties.(Cyprus. Central Bank of Cyprus)(Brief article)

Article Excerpt
In 2007 the Central Bank of Cyprus reduced the amount that commercial banks in Cyprus were permitted to lend against the security of second homes to 60% of the property value. This step was taken in order to prevent commercial banks becoming over-exposed to the sector, following what the...

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