Piraeus Bank has completed another major sale of non-performing loans (NPLs) in consumer, mortgage, and business categories. The portfolio, valued at around €300 million, reflects the ongoing trend of European banks reducing their exposure to bad debt.

Stronger Bank Results, Bigger Risks for Borrowers

This year, Piraeus Bank set aside additional funds to cover the sale of non-performing loans. Its financial results looked strong, with debts falling and more protection against losses. The percentage of unpaid loans dropped this year, and the bank now has more funds set aside to cover these debts.

While this is good news for the bank, it can spell trouble for borrowers. When a bank sells unpaid loans, the new owner of the debt often works harder to get the full amount back. They may add extra interest and charges, and can move quickly to take legal action to recover what’s owed.

What This Means for Foreign Property Owners

If you own property in Greece, Cyprus, Spain, or another European market, your mortgage could be part of such a sale. Even if your lender had paused action or accepted partial payments, a debt purchaser can restart collection. They may target both your overseas property and assets back home. We often see clients face sudden demands after years of quiet. Debt buyers aim to recover the full balance quickly, leaving little room for flexibility.

How EU Property Solutions Can Help

We specialise in negotiating with debt purchasers. Our team works to stop escalation, protect your assets, and agree on settlements you can afford. Acting early can prevent more aggressive collection measures. If your foreign property debt has been sold, contact us today. We can help you find a practical solution.