TRANSFER OF HOUSING LOAN

FIRST HOME

HOLIDAY HOME

INVESTMENT IN HOUSING PROPERTY

TRANSFER OF HOUSING LOAN

LOAN PURPOSE

Transfer of housing loan, no loan fees apply

INTEREST: Variable from 1,90%

DURATION: up to 35 years

LOAN AMOUNT: up to €500.000

FEATURES

Total Interest is calculated on the basis of 6M Euribor rate (minimum Euribor rate 0%) or BHBR.
BHBR (Bank Housing Base Rate): 1,999% (valid from 16 of November 2020).

LOAN PURPOSE	LTV	TOTAL INTEREST RATE
Transfer of housing loan from other banks	<65%	1,90%

Loan Amount

from €10.000 up to €500.000:

Loan Term

from 5 up to 35 years:

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

Early Repayment

Early or partial repaymentis allowed at any time, at no additional charges.

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

Assignment of Life insurance policy in favour of the Bank is required.

USEFUL INFORMATION

For quick evaluation of your application when visiting the branch please bring with you the following documents.

Identification Documents

Ταυτότητα
Λογαριασμό Κοινής Ωφέλειας (ΑΗΚ, ΑΤΗΚ κ.λπ.)

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

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)
Agreement of the Loan to be transferred and the statement of the loan account for the last 12 months

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.

Warning: The installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.

BRANCH LOCATOR

CONTACT & OPENING HOURS