Cyprus Online IPB has negotiated a pre-approved scheme with various banks to ensure all our clients the opportunity of obtaining a hassle free guaranteed mortgage.
Obtaining a mortgage in Cyprus does not obligate you to a specific currency for your mortgage.
As there are no currency restrictions in Cyprus , you are able to obtain a mortgage in any recognised currency. This has great benefits for our clientele. This is because the interest rate in some currencies is very much lower than what you are used to. Some currencies have an interest rate as low as 1.1%.
In summary this means we are able to guarantee our clients cheap, convenient, hassle free mortgages when buying property in Cyprus .
The applicant must meet the following requirements.
You are obligated to consent to the property standing as security to the financial institution for the duration of the mortgage i.e. the bank has the right to repossess the property in the event of prolonged non-payment.
The mortgage amount cannot exceed CYP £300 000
A minimum contribution of 20 to 30% of the purchase price is required depending on applicants status.
The maximum repayment period for a mortgage is thirty years, and may not exceed the applicants 70th birthday.
Financial documents will be required (3 months bank statements, proof of income and a bank reference).
