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Government Bilateral Agreements
Bilateral agreements between Cyprus Government and Iranian Government have been recently signed in order to open the horizons of new ...
Foreign companies can be active in Cyprus
New legislation has been recently enacted providing that a foreign registered company can move their registered offices and the place of ...
Legislations
Recommendation A
Based on the endeavors of the Cyprus Government to offer correct and high standards services to the investors, they have prepare and they ...
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- Mortgages
Mortgages
Our office provides flexible mortgage packages from reliable Bank Societies, in case our clients do not acquire the whole amount of the purchase price of the property according to the sale agreement. Our financial advisors can provide you with sufficient information and requirements for mortgage acquisition.
General
A property buyer can apply for a mortgage from a Cypriot Bank or a Financing Institution for his/her property purchase. Banks can finance the 70% of the property purchase price. Banks in Cyprus do offer different types of mortgages on different currencies.
Mortgage Types
1.1REPAYMENT MORTGAGE ======================== The repayment mortgage is a mortgage where the applicant/buyer has to start paying the mortgage instalments back to the Bank immediately after the full implementation and disbursement of the total mortgage amount. For this mortgage type each instalment is a fixed amount (interest and capital) that has to be paid on a monthly basis until ...
Currency Options
An applicant/buyer can apply for a mortgage in the following currencies: USD – US DOLLARS GBP – BRITISH STERLING POUNDS CHF – SWISS FRANKS EUR – EURO The interest rates are variable and they are always depended on the currency and the time of the application. Each applicant/buyer can have specific information on this topic upon the ...
General Requirements for Mortgage Application
Each applicant in order to be eligible for a mortgage has to provide the following documents: 3.1 Contract of Sale – The lawyer shall provide this 3.2 Proof of the buyers/ applicant’s contribution ( 30%) 3.3 Bank Statements from the applicants/buyer’s home Bank for the last 3-6 months prior to the application. 3.4 Evidence of Income ...
Grace Period
Applicants/buyers are allowed to have grace period up to 2 years depending when the completion and/or delivery of the property shall take place. This facility is usually provided for buyers/applicants purchasing off plan properties. During the construction period and until the delivery the applicant/buyer does not have to make any capital payments and any interest is added on the balance ...
