MORTGAGE LOANS FOR REAL ESTATE IN GREECE
Loans for the acquisition of real estate in Greece are available to all interested parties, no mater the citizenship, and are granted for the purchase of land and houses alike.
- Floating rate, based on Euribor (quarterly, comprises 4.857% in May) plus spread (1.55%-1.7%). The spread remains fixed over the entire period of the mortgage. Furthermore, it is possible to pay off the mortgage at an earlier date, before period end, without having to pay any penalty.
Fixed mortgage rates for:
■ 3 years: 5.5%
■ 5 years: 5.6%
■ 10 years: 5.85%
■ 15 years: 6.10%
This plan is convenient for those who want to make fixed payments at stable rates.
- Loan currency: Euro
- Loan repayment: monthly payments with the possibility to have money taken directly from the client's bank account.
- Time period for loan repayment: max. 35 years. It is necessary to complete the loan repayment before the client turns 70 years old.
- Sum of the allowed loan: max. of 75% of the cost of the property, with no limit to the total sum of the credit.
- 25%-30% of the total cost has to be transferred to the mortgage claimer account in the bank that acts as a mortgage lender.
Other fees involved:
l Mortgage request and paper work: EUR350
l Lawyer/engineer expenditures for the realization and paperwork of the mortgage: approximately EUR650
l Guarantee registration (0.80% from the total mortgage sum; the mortgage sum comprises 120% of the total loan)
l Real estate insurance
- Passport or valid ID Card
- Income statement: last tax declaration, personal income taxes; for entrepreneurs – 2 last tax declarations. All documents need to have a certified English or Greek translation by lawyer.
- Payment transfer confirmation made to the bank giving the loan (25%-30% of the real estate cost).
- Information concerning current mortgages/loans.
Furthermore, as a supplemental service our company can offer you assistance for opening an account in a Greek bank that has branches in Moscow or Saint Petersburg.