• Purchase, construction, completion of own house
  • Renovation, expansion of own house
  • Restoration, repair of traditional/ listed buildings to be used as owner-occupied residence
  • Improvement or maintenance of traditional/ listed buildings to be used as owner-occupied residence
  • Purchase of plot of land to build own house
INTEREST: Variable from 2,00%

DURATION: up to 35 έτη

LOAN AMOUNT: up to €500.000

Total Interest is calculated on the basis of 6M Euribor rate (minimum Euribor rate 0%) or BHBR.
BHBR (Bank Housing Base Rate): 2,0349% (valid from 28 of May 2019).
LOAN PURPOSE CONTRIBUTION TOTAL INTEREST RATE
Purchase, construction, completion, expansion or renovation of own house. >50% 2,00%
Restoration, repair, improvement or maintenance of traditional/ listed buildings to be used as owner-occupied residences >30% – 50% 2,10%
Purchase of plot of land to build own house 20% – 30% 2,20%
Energy Efficiency Reward

Upon the full disbursement of a loan for purchase, construction or renovation of a residence that will be graded with an A on its energy efficiency certificate, a reward of €300 bonus is credited in customer’s credit card..

Loan Amount   
From €10.000 to €500.000:
  • Purchase, construction, completion
  • Restoration, repair of traditional/ listed buildings
  • Purchase of plot of land to build own house

From €10.000 to €100.000:
  • Renovation or expansion of residential premises
  • Improvement or maintenance of traditional/ listed buildings
Loan Term  
From 5 to 35 years:
  • Purchase, construction, completion
  • Restoration, repair of traditional/ listed buildings
  • Purchase of plot of land to build own house

From 5 to 20 years:
  • Renovation or expansion of residential premises
  • Improvement or maintenance of traditional/ listed buildings
Beneficiaries  
  • Permanent residents in Cyprus
  • Adults older than 20 years upon the loan disbursement and younger than 70 years upon the loan repayment
Collaterals  
  • First mortgage in favour of the Bank on the financed property for the loan amount
  • Personal guarantee of at least one person of sufficient credit standing provided there is no co-debtor
Disbursement
  • One-off on purchase of pre-built residence or building plot
  • In instalments on construction, restoration or renovation based on the value of the works completed certified by the project’s engineer and verified by associate valuers
Early Repayment
  • Early or partial repayment is allowed at any time, at no additional charges
Grace Period
If house is under construction:

  • Option paying only the interest until the house is completed (maximum 2 years)
Property insurance
  • Insurance coverage is required to ensure best protection of your financed property against basic risks, such as fire and earthquake, pipe fracture/cracking, burglary etc.
  • Ethniki Insurance undertakes to insure your property at very low cost, through fast and easy procedures
Borrower Life insurance
To ensure the complete protection of the property acquired, Ethniki Insurance also undertakes to pay up the remaining loan balance, in the event of the borrower’s death due to illness or accident during the loan repayment period.
For quick evaluation of your application when visiting the branch please bring with you the following documents:
Identification Documents
  • I.D.
  • Utility Bill (CYTA, EAC etc )
Income Documentation    
Salaried employees :

  • Original copies of payslips of the last two (2) months.
  • Original copy of the salary account statement of the last three (3) months.
  • Supporting documentation for any other type of income, such as from alimony, interest rates, real estate or welfare benefits (if deemed necessary for the verification of the sufficient credit standing)

Sole proprietors/ Freelancers:

  • Copy of the income tax return of the last two (2) years, or
  • Income certificate issued by the applicant’s accountant (if any), or
  • Copy of the statement of social insurance payments of the last two (2) years
  • Copy of the statement form submitted after the date of the last annual balance sheet, if registered in the VAT registry.
  • Supporting documentation for any other type of income, such as from alimony, interest rates, real estate or welfare benefits, if deemed necessary for the verification of the sufficient credit standing
Purpose of Credit Documentation
Purchase or construction of a property

  • Receipt of advance payment (if applicable)
  • Detailed time schedule and cost analysis report signed by professional quantity surveyor or other relevant professional
  • Ownership title of the current owner/ S&P contract
  • Building permit
  • Urban planning permit.
  • Letter of intent to release the mortgaged property signed by the current owner and letter of intent signed by the mortgagee (if the financed property is mortgaged)

Renovation (estimated total cost <75,000)

  • original copies of invoices and payment receipts

TERMS AND CONDITIONS APPLY

For more information and full terms and conditions, you can contact any branch of the National Bank.

Our interest rates depend on your financial data and the amount of your loan and may differ from the above representative rates.

The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time.

Loans are only available where the applicant provides the National Bank of Greece (Cyprus) Ltd with asset-based collateral which in its view is satisfactory.

The interest rate and the installment of the mortgage loan may be modified by the creditor from time to time.

You run the risk of losing your real estate if you do not normally pay the installments of the mortgage or any other mortgage-backed mortgage on your immovable property.

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