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Glimmer of hope for distressed borrowers?

A specialist property advisory company with significant experience in renegotiating property loans is now offering a service to distressed borrowers in Cyprus to renegotiate and reset their loan terms with the bank on their behalf.
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Fitch places three top banks on rating watch negative

International ratings agency Fitch has placed the Island's top three commercial banks on rating watch negative meaning that they could be downgraded in the near future as they remain highly sensitive to events in Greece.
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Government steps in to shore up Popular Bank

The government has agreed to underwrite a 1.8 billion Euro share capital increase by the Island's second largest bank, the Cyprus Popular Bank, to help it recapitalize and meet EU Banking Authority capital requirements.
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Banks should offload distressed properties

The banks need to offload billions of Euros of property left on their books by bankrupt developers and offer 100 percent mortgages spread over 40 years, similar to those being offered in Spain.
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Moody’s downgrades three Cyprus banks again

Despite their efforts to raise fresh funds, Moody's Investor Service has downgraded the three leading Cyprus bank ratings following Tuesday's cut to 'junk' of the Cyprus sovereign ratings.
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Dreams of a home in Cyprus turn into a nightmare

British buyers seek redress as mortgage payments on their Cyprus properties double, Title Deeds fail to materialise and bailiffs threaten, alleging that Cypriot lawyers may not have complied with crucial legal formalities.
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Fitch downgrades covered bonds of two Cyprus banks

The covered bonds of the Bank of Cyprus and the Marfin Popular Bank have been downgraded by Fitch Ratings following the downgrade of Cyprus' sovereign rating and the subsequent downgrades of Marfin and BoC's' Long-Term Issuer Default Ratings.
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Fitch downgrades three Cypriot banks

Fitch Ratings has downgraded three Cypriot banks by one notch saying that finding private capital to cover their capital needs until June will be "difficult". Fitch downgraded the three banks to BB+ from BBB- with negative outlook.
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Alpha Bank moves to repossess homes built by Liasides

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.
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Cyprus’ top three banks downgraded by Moody’s

Moody's Investors Services has downgraded the long-term deposit and debt ratings of the three largest Cypriot banks because of what it believes is the reduced ability of the country to support its large banking system.
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Banks not pressuring developers to service their loans

The fall in residential property prices that we reported on Thursday could have been even worse if the banks had pressed developers to service their loans by reducing new property prices still further to encourage sales.
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Ceiling set on value of Swiss Franc

The Swiss National Bank has set a minimum exchange rate of CHF 1.20 to the Euro and said that it will enforce this minimum rate with the utmost determination.
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Banks could face 1 billion Euro hit

Cypriot banks could take a hit of more than 1 billion Euros to shoulder their Greek bailout obligations, forcing them to raise capital and potentially deepening concerns over the Island's own sovereign debt.
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Foreign currency mortgages turn sour

Buyers advised to take out home loans in Swiss francs to buy property in Cyprus are struggling to repay and face repossession and ruin as exchange rate movements send their mortgage repayments soaring.
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Moody’s reviews Cyprus banks for possible downgrade

Moody's Investors Service placed three Cypriot banks on review for a possible downgrade on Friday, citing heightened risks to the banks from their exposure to Greek debt.
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‘The end is nigh’ property firm spreads bank fears

Like thousands of others, I received an email from BuySell's sales director advising me that that keeping cash in the bank is too risky and offering to find me a property bargain.
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Banks say town planning bills unconstitutional

The Association of Cyprus Banks believes that some provisions in the three town planning bills currently awaiting parliamentary approval are unconstitutional and has called on the government to think again.
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Moody’s downgrades three Cyprus banks

Following in the wake of its decision last week to downgrade Cyprus government bond ratings, yesterday Moody's Investor Services announced that it had downgraded three Cyprus banks.
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Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor's downgraded Cyprus' sovereign credit rating by one notch and set the outlook as 'negative' as a result of increasing vulnerabilities in the Island’s banking system.
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Can the Cyprus banks pursue me in the UK?

I have been contacted by many British buyers who have received warning letters at their UK addresses from developers and banks in Cyprus concerning delayed mortgage repayments.
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