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Mortgages
and Property
Cyprus
Currently covers only Greek Cypriot residential property
Loans available for the majority of Nationalities for
either House Purchase or re-financing for other purposes including
Home Improvements.
Type of Loan: Repayment Mortgage only
Minimum: £30,000, No Maximum, but must not exceed
75% 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 20 years - up to age 70
Currency: All Major Currencies, including Sterling,
Euros, US Dollars etc
Current Variable Interest Rate is based on 2.50% above
LIBOR
Example: For a Sterling Mortgage of £50,000 over
a period of 15 years at an interest rate of approx. 6.50% = approx
£ 443.50 capital and interest per month = a total approximate
amount payable over the term of £ 81,830 including capital,
interest, arrangement and survey fees.
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