The Ministry of Finance has officially announced a new period for eligible citizens to apply for the “Rent to Installment” (Mortgage to Rent) Scheme. Starting Monday, May 4, 2026, the program will once again accept applications aimed at providing a social safety net for homeowners facing significant financial distress.
The scheme is designed to protect primary residences by allowing burdened borrowers to transfer ownership of their property to the state owned asset management company, KEDIPES, while remaining in the home as tenants under a long term rental agreement.
Key Deadlines and Application Process
The government has established a nearly three-month window for interested parties to formalize their requests:
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Submission Start Date: May 4, 2026
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Submission Deadline: July 31, 2026
While applicants can download the necessary documentation digitally from the KEDIPES official website, the Ministry has emphasized that the final submission must be handled in person. Digital or email submissions will not be accepted.
Where to Submit
Applicants must deliver their completed hard-copy files to the dedicated KEDIPES provincial offices located in the following areas:
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ניקוסיה
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לימסול
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לרנקה
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פאפוס
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Paralimni
For those requiring assistance with the complex eligibility criteria or the documentation checklist, a specialized helpdesk has been set up at the KEDIPES call center via telephone at 22 743400.
Understanding the Scheme
The “Rent to Installment” initiative is a critical pillar of the Republic’s strategy to address non-performing loans (NPLs) without resorting to mass foreclosures. Under this regime:
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The borrower is relieved of their mortgage debt.
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The state (via KEDIPES) becomes the owner of the property.
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The former owner signs a 14 year rental agreement, with the option to buy back the property after five years at a favorable price.
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For vulnerable households, the government often covers the rental cost in its entirety.
By reopening the application process, the Ministry aims to capture households that missed previous windows or whose financial situations have recently shifted due to current economic pressures.
Source: Stockwatch.com.cy