AstroBank has announced a scheme that would allow a suspension of mortgage payments for non-delinquent borrowers between March and November 2020.
Acknowledging what it says are the negative conditions and uncertainty caused by the coronavirus pandemic “and focusing on customer support during this difficult time”, the bank said applications can be made up until June 30.
The condition is that a loan was considered non-delinquent as of February 29, 2020.
For those who qualify, the bank will suspend all mortgage payments until November but they will become payable then with the due interest payable at the end of the loan.
Customers wishing to apply for the Plan should complete the “COVID-19 Individual Mortgage Suspension Plan Application Form” and email it to email@example.com or fax it to the customer’s store for the signing of the Mortgage Loan Modification Agreement.
Participation in the plan is pre-approved and enters into force upon signature of the agreement without further action by the client.
In his remarks, AstroBank Managing Director Constantinos Loizides said that “in these unprecedented conditions for all, it is important to remain in solidarity with one another. In this difficult time for our country, AstroBank is actively supporting its customers and people and society in general. “
Source: Cyprus Mail