New Mortgage-to-Rent Scheme: A Lifeline for Cyprus Homeowners
The new mortgagetorent scheme in Cyprus allows vulnerable homeowners facing foreclosure to transfer home ownership to Kedipes and rent it for 14 years, with the state covering the rent. Eligible participants, including ‘trapped buyers’, can later buy back their homes. This initiative is aimed at safeguarding primary residences for families in financial distress. Syprodat, the Cyprus Borrowers Association, has welcomed the scheme and encourages those who qualify to actively engage with this new opportunity.