your dreams come true
you are dreaming of a permanent or holiday house in Cyprus, we
can make your dreams come true. We can design the best housing
solution, customized to your needs.
Purpose: You can use the loan to buy a house, land apartment or
for home extensions / renovations or even for your business premises.
amount: There is no maximum loan amount.
The level of your contribution may vary, as Bank of Cyprus may
finance up to 80% if the market value of the property. The pricing
of your loan and the required securities will depend on the level
of your contribution.
We can offer housing loans in Cyprus pounds and in all major currencies.
period: A housing loan in Cyprus pounds may be repaid in a period
of up to 25 years and in foreign currency may be repaid in a period
of up to 15 years.
period: If you are purchasing a property that is under construction,
you have the option to start the repayment of your loan after
the construction is completed (maximum period 12 months). During
that period, you will only have to pay the accrued interest.
The pricing of your loan will depend on the level of your contribution,
the securities provided, the housing purpose and the currency
of the loan. A margin of 1,75% - 2,50% will apply above base rate
(if loan is in Cyprus Pounds) or above libor (if loan is in foreign
insurance: In order to release you and your family of the burden
to repay the financing in case of unfortunate events (loss of
life, overall disability, etc,) the contracting and granting in
favour of the Bank, of a life
for an amount at least equal to the value of loan is necessary.
a subsidiary of our Group, is willing to serve you and to offer
at very competitive prices all types of insurance coverage.
charges: Arrangement fees up to 1% of the loan amount and documentation
fess (depending on the required documentation of the loan) will
be charged once off.
In order to be able to design together your Customized Housing
Solution, please inform us about the:
of the loan
of the property
the following information is required:
The enclosed Financial Information form completed.
Proof of repayment ability: For companies, audited financial accounts
for the last 3 years.
Proof of contribution paid or to be paid such as Bank debit advices,
copies of cheques issued or copies of Bank statements showing
the balance of the account.
Copy of 6 months bank statements showing the monthly salary deposited
into the account.
Verified copy of passport or Cyprus ID.
Bank reference from your bankers / Credit Search.
Proof of permanent residency.
Sales Agreement (original duly stamped and signed.)
Copy of the title deed and topographical plan of the property
to be purchased.
the facilities are available for people above the age of 18
mortgage may vary the interest rate and the repayment of your
housing loan from time to time.
granting depends very much on the submission of adequate securities
by the borrower to the Bank, which however maintains the right
to reject any loan application according to its judgement.
rate in Cyprus is 4,25 % as at 19/06/06
You run the risk of loosing your immovable property if you fail
to keep up with the mortgage instalments or instalments of any
other loan, which is secured by a mortgage on your immovable property.