Themis Portfolio Management Limited (Themis), the largest NPL management company in Cyprus, driven by empathy for the human side of the consequences of the economic crisis, takes the initiative to provide support to borrowers/mortgage borrowers** of NPLs secured by primary residences up to €350K.
For borrowers who will send a written proposal for settlement of their debt obligations by 30/09/2023, Themis undertakes to examine the application and provide a written response within 30 days. In addition, during the examination of the proposal, any planned sale will be frozen. As part of its ongoing effort to improve communication channels and help find consensual solutions, Themis invites borrowers to contact as soon as possible to arrange a meeting and the company commits to arranging the meeting within 15 days.
Guided by its commitment to transparency, accuracy and responsible lending practices, Themis is introducing measures that will further strengthen the framework of the foreclosure process.
As part of this initiative, Themis gives its borrowers/mortgage borrowers the opportunity to contact independent accounting firms* for confirmation of their debt balances as well as for the calculation of their interest rates, bearing the relevant costs itself. This provides transparency and further assurance as to the correctness of the relevant calculations. It is noted that the result of the calculations will be binding on Themis.
Borrowers/mortgage borrowers who choose to take appropriate action before or upon receipt of the Type Θ or Type I notice will benefit from a fast and transparent process without having to deal with unnecessary and time-consuming delays in the court system.
This commitment underscores the company's commitment to responsible lending practices and serves as a benchmark for the industry. Therefore, Themis looks forward to working closely with borrowers/mortgage borrowers, independent accounting firms and other stakeholders.
