Kedipes offers repayment plan for NPLs
Kedipes has announced a new repayment plan for non-performing loans (NPL) that would be secured by a primary residence, with a market value of up to €350,000.
In a detailed statement, Kedipes said that this initiative is part of its long-term commitment to finding consensual solutions tailor-made for the specific circumstances of each borrower. Working with its portfolio management company, doValue Cyprus, Kedipes is offering an option for the full repayment of mortgage housing loans, specifically aimed at properties that were non-serviceable as of December 31, 2024, and remained so.
More specifically, Kedipes explains that, according to the provisions of the new plan, “eligible borrowers can fully repay their loan obligations by paying an amount that will be calculated with a significant percentage discount on the market value of the mortgaged residence.”
Furthermore, Kedipes confirmed that soon, doValue Cyprus Officers will contact the borrowers that could benefit from this proposed arrangement, informing them about the specifics of the plan and the individualised settlement proposal.
What is more, Kedipes clarifies that “the process will be simple and immediate approval will be given, as long as the borrowers meet the criteria of the plan and there is a corresponding response.”
In conclusion, Kedipes emphasises that alongside the new repayment plan for non-performing loans secured by a primary residence worth up to €350,000, doValue continues to act as the managing entity for Kedipes’ loan and real estate portfolio.