House refugee committee says no foreclosures in refugee housing estates after interventions

Nicosia, Cyprus. The House refugee committee said on Tuesday that no foreclosures or evictions have taken place in refugee housing estates following its interventions. Committee chair and Akel MP Nikos Kettiros said credit acquisition companies had complied with parliamentary guidance.

Committee findings and compliance

Kettiros said members were satisfied that credit acquisition companies had not proceeded with any divestment of primary residences in refugee settlements. “We have seen with satisfaction that all the recommendations and instructions of the refugee committee have been followed,” he said.

Pending issue in self-housing settlements

Kettiros said one issue remains unresolved concerning residences located in self-housing settlements, citing a lack of clear data held by credit acquisition companies identifying such properties. He said borrowers in these schemes face uncertainty over their protection.

Property figures and revised exposure

At the meeting, Association of Credit Acquisition Companies and Credit Facility Managers president Anthi Exadaktylou told MPs that 14 properties in refugee settlements are currently held by credit acquisition companies, while 320 fall under the state-owned asset manager Kedipes. Earlier figures suggesting higher exposure were revised after cross-checks with the land registry.

Data challenges and borrower guidance

Exadaktylou said the companies had handled the cases “with particular sensitivity” and said the absence of reliable data on properties in refugee estates has been a persistent problem. Kettiros said borrowers who receive letters about their loans should contact the relevant credit acquisition company and declare that their home is located in a refugee settlement so that an arrangement can be made.

Have you received a letter about a loan linked to a home in a refugee settlement?