AKEL delegation meeting with the Movement Against Foreclosures
24 May 2023, AKEL C.C. Press Office, Nicosia
As part of AKEL’s ongoing “Housing for All” campaign, an AKEL headed by the Party’s Parliamentary Representative Giorgos Loukaides, met with the Movement Against Foreclosures.
The discussion focused on the crucial issue of providing protection to borrowers. The Parliamentary Representative of AKEL noted that “the lack of a comprehensive legislative framework for borrower’s protection and the aggressive mentality in handling non-performing loans (NPL’s), especially by Credit Acquisition Companies, are maximising the danger of the sale of primary homes and small commercial properties”.
AKEL, noted Giorgos Loukaides, has taken concrete initiatives to solve the problem of NPL’s. Supporting borrowers, restoring people’s access to justice and the elaboration of a comprehensive social policy to protect the right to housing are all key pillars of the proposals submitted by AKEL.
The protection of borrowers “is an obligation of the state towards society and the economy”, concluded G.Loukaides, pointing out that the consequences from the continuation of the problem of mortgage repayments will have huge social consequences, creating problems in the economy itself.
The AKEL delegation also included the Head of AKEL’s Economic Policy Sector Charis Polycarpou, Sector member Vakis Charalambous and Party parliamentary assistant Niki Karakondylou.

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