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EU questions Cyprus on developer mortgages

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EU questions Cyprus on developer mortgages

Postby Gasman » Fri Jun 11, 2010 12:07 pm

Daniel Hannan, MEP for South East England, has raised a question in the European Union Parliament to uncover the facts behind the Cyprus developers mortgages scandal, the number of properties involved and the total mortgage debt of the developers

WITH reference to previous Parliamentary Written Questions E-0110/09 by Syed Kamall, E-6793/08 by Mary Honeyball and E-6513/08 by Caroline Jackson, and with a view to the new legislation that is about to be put in place by the Cypriot Government to address the problem of withheld title deeds, would the Commission answer the following questions:

How many individual properties whose sales contracts are lodged at the Land Registry in Cyprus are encumbered with developer mortgages? How many of these have been sold to Cypriots and how many to non-Cypriots?

What is the current balance of the total mortgage debt of Cypriot developers and the percentage increase, year on year, over the last three years?
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