A new mortgage interest rate subsidy scheme in Cyprus is set to provide relief for homebuyers by making home loans more affordable.
The Bankers Association, in collaboration with the Ministry of Finance, has been working on finalizing the details of the scheme over the past three months. Key aspects include data sharing between banks and the ministry, application forms, authorizations, and electronic communication protocols.
The Ministry of Finance is now reaching out to banks to express their interest in participating, marking the first step towards implementing the program. The scheme aims to benefit the Cypriot economy and society, helping families achieve their dream of owning a home.
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