Cyprus Times

Discussion Continues on Loss of Use Fund; Full Interest Subsidy in Effect

Published March 24, 2026, 14:09
Discussion Continues on Loss of Use Fund; Full Interest Subsidy in Effect

Discussion continues in the Parliamentary Committee on Refugees regarding the bill to establish a National Fund for Loss of Use of Occupied Properties. The full interest subsidy on housing loans is already in effect, without burdening the first 1% for the borrower. In addition, a second amendment, concerning the right of borrowers to apply to the Equal Burden Sharing Fund to subsidize the remaining loan amount, is expected to be brought before the Plenary. The amendment, submitted by AKEL and passed by a majority, abolishes the obligation for the borrower to pay the first 1%, while the Government is expected to submit new amending legislation to reinstate it. The issue of loss of use remains open and the Committee will continue to monitor it.