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Wednesday, April 24, 2024

Foreclosures: In the Plenary the bills for the protection of borrowers

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The Director General of the Ministry of Finance Giorgos Pantelis Pantelis said that the philosophy of the bill tries to target a specific category of borrowers with social characteristics.

Εκποιorσει&sigma ;: Στην Ολομελεια τα νομοσχεδια γ ια προστασΙα των δανειοληπτоν

The Government's bills concerning the protection of borrowers in relation to foreclosures will be brought to the Plenary next Friday. The bills concern the designation of the number of judges with the approval of the Supreme Court for fast adjudication of these cases for a first residence up to €350,000 as well as the expansion of the powers of the Financial Commissioner.

Number of amendments and alternative legal proposals are expected to be submitted to the Plenary, since parties do not consider that these bills provide effective solutions for all borrowers who need it.

The Ministry of Finance came on Monday to the Parliamentary Committee on Finance with an amended bill regarding the courts which introduces a provision so that for pending cases before the court, the party can submit a request to the Protocol Office to have his case heard in the Supreme Court, meaning that the hearing has not started.

The Director General of the Ministry of Finance Giorgos Pantelis Pantelis said that the philosophy of the bill tries to target a specific category of borrowers with social characteristics. In the requests of MPs to include in the law a specific provision for the number of days during which the case must be heard, he said that it seems to be in conflict with the Constitution and the separation of powers.

He also said that in assessing the value, he cannot to separate the property and the land, nor to take into account whether there has been an appreciation of the property due to geographical location.

Speaking to the Committee, its President, DIKO Member of Parliament Christiana Erotokritou, said that for the first time, contrary to what the previous ones said, there is today a bill which gives concrete impetus to the process of resolving financial disputes. He noted that it will be a process that will be under the constant supervision of the Supreme Court and the Legal Service, while if necessary there will be improvement.

In relation to the bill to expand the powers of the Financial Commissioner, he said that the scope of the bill is now unprecedented since professional housing was also included, while terminated loans are also covered. He said that the law should be implemented and if there are weaknesses it should be reviewed.

DISY MPs did not object to the bills.

AKEL Member of Parliament Andreas Kavkalias, in his statements after the Committee, said that the two government bills do not respond to the most basic request, which is to achieve the essential differentiation of the existing legislative framework for divestments, which is cut and sewn according to the measures of banks and management companies loans.

He expressed the opinion that basically nothing changes and said that the Supreme Court could by its decision still appoint judges to examine these cases. At the same time, he said that AKEL will seriously study the possibility of reintroducing legal proposals aimed at restoring the borrower's right of access to justice to end the foreclosure process.

The President of EDEK Marinos Sizopoulos said that although they are satisfied with the completion of the procedure for fast adjudication of cases involving borrowers, they are not completely satisfied with the content. He identified three loopholes, stating that it creates conditions of injustice among the borrowers, and those whose property price went up due to the area in which they live are particularly wronged. He also said that they want the special departments to be staffed by judges to hear these cases quickly. He added that the trial time cannot be uncontrolled but there should be a time limit.

Regarding the bill for the Financial Commissioner, EDEK Member of Parliament Ilias Myrianthous said that the upper limits should be completely abolished. in the value of the properties.

The Member of Parliament of DIPA Cooperation Alekos Tryfonidis welcomed the completion of the bill on bars as well as the inclusion of overcharging and abusive clauses. He wondered what could be done about the issue of adjudication time and the issue of the differentiation of values ​​according to the region. He also pointed out the same for the bill regarding the Single Body for the Resolution of Financial Disputes, while he said that provisions could also be included so that strategic non-payers cannot benefit. Stavros Papadouris suggested that the maximum amount for appeal to the Financial Commissioner be increased from 350,000 euros to half a million, which can be a consensual solution. With regard to the passing of the bills in the Plenary, he said that he reckons that there will be several amendments that will mainly concern the maximum value of the property. He also said that there is also a proposal for a law to continue the suspension of sales until January 31 and there may be a proposal on his part for the possibility of real and effective recourse to justice.

Source: www.kathimerini.com.cy

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