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SYPRODAT: Protection of Primary Residence and Guarantors Should Not Remain on Paper

Published February 11, 2026, 11:52
SYPRODAT: Protection of Primary Residence and Guarantors Should Not Remain on Paper

The Association for the Protection of Bank Borrowers (SYPRODAT) has expressed its agreement with the bill submitted to Parliament for the protection of guarantors, but emphasizes the need to ensure that the protection of the primary residence is also implemented. SYPRODAT describes the proposal as a result of pressure and social need, acknowledging a first injustice suffered by many families. The Association seeks a clear, binding and humane legal framework that will genuinely protect guarantors and combat abusive practices. It highlights the critical nature of the issue, referring to the high percentage of Cypriots who own their homes, arguing that a home is a right and not merely an investment. SYPRODAT states that it will continue to push for substantial solutions that focus on borrowers, not numbers. It reiterates its determination to ensure that the protection of the primary residence and guarantors does not remain just a document. In summary, SYPRODAT welcomes the bill as a first step, but calls for the creation of a comprehensive and effective legal framework to protect borrowers and guarantors, taking into account the importance of housing for the majority of Cypriots.