{"id":1837,"date":"2025-03-27T10:57:32","date_gmt":"2025-03-27T08:57:32","guid":{"rendered":"https:\/\/financialombudsman.org.cy\/?page_id=1837"},"modified":"2025-11-14T10:40:37","modified_gmt":"2025-11-14T08:40:37","slug":"filing-a-complaint-by-an-eligible-debtor-against-a-licensed-institution","status":"publish","type":"page","link":"https:\/\/financialombudsman.org.cy\/en\/complaints-submission-and-mediation-requests\/filing-a-complaint-by-an-eligible-debtor-against-a-licensed-institution\/","title":{"rendered":"Filing a Complaint by an Eligible Debtor \u0391gainst a Licensed Institution"},"content":{"rendered":"

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A. GENERAL INFORMATION<\/strong><\/h2>\n

(<\/strong>i<\/strong>)<\/strong> By completing this complaint application, an eligible debtor \/ individual may submit a complaint to the Financial Commissioner, against a licensed institution, by which he disputes the amount of the required amount in mortgage debt. The complaint shall be examined in accordance with the procedure set out in articles 9(1B), 10A, 12, 13 and 14 of the Establishment and Operation of the Financial Ombudsman of the Republic of Cyprus Law of 2010, as amended and\/or replaced from time to time (hereinafter referred to as \u201cthe Law\u201d), provided that all of the following conditions are met:<\/p>\n

(a)<\/strong> The complaint is submitted by an eligible debtor, if there is more than one, it is signed by all, as defined in Part VIA of the Transfer and Mortgage of Real Estate Laws and whose mortgaged property under sale constitutes a primary residence, with an estimated value (market value) not exceeding three hundred and fifty thousand euro (\u20ac350.000). The basis for the assessment is the assessment carried out, in accordance with the provisions of article 44D of the same law.<\/p>\n

(b)<\/strong>\u00a0The mortgaged property under sale is a primary residence when it is used for the residence of its owner and\/or members of his family, for a period exceeding six (6) months per year.<\/p>\n

(c)<\/strong>\u00a0If the eligible debtor has received from the licensed institution all the letters provided for in paragraphs 5(2)(b), 5(2)(c), 5(2)(d) and 5(2)(e) of the Code (which is included in Annex 2 of the Central Bank of Cyprus Arrears Management Directive), after 14\/07\/2023, to have provided to the licensed institution all the required and other information within the timeframes provided for in the said letters.<\/p>\n

(d)<\/strong>\u00a0The eligible debtor has received the Form \u201cIA\u201d Notice pursuant to subsection (2) of section 44C of the Transfer and Mortgage of Real Estate Laws.<\/p>\n

(e)<\/strong> The complaint shall be submitted to the Financial Commissioner, within twenty-one (21) days, from the service of the Form \u201cIA\u201d Notice on the eligible debtor.<\/p>\n

(f)<\/strong> No court decision or order for execution and enforcement of an arbitration award has been issued and no legal proceedings or issuance procedure for the execution of an arbitration decision are in progress.<\/p>\n

(g)<\/strong> The eligible debtor paid a fee of twenty euro (\u20ac20) for the complaint examination. Payment can be made online\u00a0here<\/a><\/strong>\u00a0or to the following accounts:<\/p>\n

(a) Eurobank Ltd<\/strong>
\nAccount Name:<\/strong> E.F.EXO.EPILYSIS DIAF.CHRIMAT.FYSIS
\nIBAN:<\/strong> CY32 0050 0143 0001 4301 G437 0501
\nSwift code & BIC Code:<\/strong> HEBACY2N<\/p>\n

(b) Eurobank Ltd<\/strong>
\nAccount Name:<\/strong> TAM EN FOR EKS EP DIAF XRIMAT FISIS
\nIBAN:<\/strong> CY78 0050 0109 0001 0901 7087 6401
\nSwift code & BIC Code:<\/strong> HEBACY2N<\/p>\n

(c) Bank of Cyprus Public Company Ltd<\/strong>
\nAccount Name:<\/strong> EN.FOREA EXO.EPIL.DIAF.CHRIM.FISI
\nIBAN:<\/strong> CY52 0020 0195 0000 3570 1944 4789
\nSwift code & BIC Code:<\/strong> BCYPCY2N<\/p>\n

(<\/strong>ii<\/strong>)<\/strong>\u00a0If you wish to submit your complaint by completing the paper application, you can submit it to the Financial Commissioner, in one of the following ways:<\/p>\n

    \n
  1. \n
      \n
    1. By hand at the address 15 Kypranoros, 1st floor, 1061 Nicosia<\/li>\n
    2. By post (by registered mail) P.O. Box 26722, 1647 Nicosia<\/li>\n
    3. By fax to 22660584 or 22660118<\/li>\n
    4. By email to\u00a0complaints@financialombudsman.gov.cy<\/a><\/strong><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

      To submit your complaint in one of the above ways (1-4), download the application:\u00a0Downloading a Complaint Submission Application by an Eligible Debtor against a Licensed Institution<\/strong><\/a><\/p>\n

      B. FALSE STATEMENTS AND CONCEALMENT OF INFORMATION<\/strong><\/h2>\n

      Pursuant to article 26 of the Law for the Establishment and Operation of the Financial Ombudsman of the Republic of Cyprus of 2010, as this is from time to time amended and\/or replaced, a person who, during the process of providing information for the purposes of the Law or pursuant to the Directives issued under it, knowingly, makes false, misleading or fraudulent statement or conceals an essential element or in any way obstructs the complaint examination by the Financial Ombudsman, is guilty of an offense and in case of conviction, is subject to imprisonment not exceeding two (2) years or to a fine not exceeding ten thousand euro (\u20ac10.000) or to both such penalties.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=””]<\/p>\n

      C. REQUIRED DOCUMENTS<\/strong><\/h2>\n

      To complete the application you will need to attach the following documents:<\/p>\n

        \n
      1. Receipt of payment for the amount of twenty euro (\u20ac20) for the complaint submission.<\/li>\n
      2. Copy of Identity Card or Alien Registration Card (ARC) or Copy of Passport.<\/li>\n
      3. Special power of Attorney document accompanied by the original certification, in the case the complaint is submitted by a representative of the eligible debtor.<\/li>\n
      4. Copy of the notice letter type “IA” for the intended sale of the mortgaged property.<\/li>\n
      5. Copy of the notice letters Type \u201c\u0398\u201d and Type \u201c\u0399\u201d (if available).<\/li>\n
      6. Certificate issued by the head of the community of the area in which the property is located, which proves that the property under sale is the primary residence.<\/li>\n
      7. A recent copy of a utility bill (up to six (6) months old).<\/li>\n
      8. Appraisal of the primary property, when this exists.<\/li>\n
      9. Court order in the case where a legal procedure is underway.<\/li>\n<\/ol>\n

        Allowed file types:<\/span> PDF, JPG, JPEG, PNG
        \nAllowed file size: <\/span> up to 2MB<\/p>\n

        Please make sure you have the above documents before proceeding to avoid inconvenience.<\/p>\n

        IMPORTANT NOTICE: English and Greek are the official languages \u200b\u200bsupported by the Office of the Financial Commissioner. Any information \/ documentation in another language must be accompanied by a translation into English or Greek.<\/em><\/strong>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]\n

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