The rates for Greek Mortgages for purchasing a property in Greece are approximately 5% in Euros (Includes Greek mainland and all islands except Cyprus on residential property).
If you are purchasing a property in Greece, Greek Mortgages are available for the majority of Nationalities for either House Purchase or re-financing for Home Improvements (other purposes on a case by case basis).
Type of Greek Mortgage: Repayment Mortgage only.
Minimum: € 40,000, No Maximum, but must not exceed 80% of valuation or purchase price (whichever is the lower).
Proof of Income: required in all cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status loans are currently not available.
Term: Maximum 25 years - up to age 73
Currency: Euros, US Dollars and Sterling only
Current Variable Interest Rate is approx 5.10%. Fixed Rate loans are also available from three years upwards - details on request
Example Greek Mortgage: Repayment Mortgage of approx € 70,000 over a period of 25 years at an Interest Rate of 5.10% variable = approx € 418.50 capital and interest per month = a total approximate amount payable over the term of € 128,430 including capital, interest, arrangement and survey fees.
Please note, that there are no non-status/self-certification Greek mortgage facilities available in Greece (although renting out your Greek property is permitted), all Greek mortgages need to be supported by a minimum requirement of proof of income, i.e. if employed - copies of your last three month's pay slips & copies of your latest P60/Employer’s Reference together with copies of your last 6 month’s Personal Bank Statements will be required or alternatively if you are self-employed - copies of your last three years Audited Accounts & copies of both your last 12 month's Business and last 6 month’s Personal Bank Statements will be required on application.
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