Q. How much mortgage can I have to buy a
residential property in Cyprus ?
Based on the local
valuation or purchase price, whichever is the lower, UK and Non-UK
applicants can borrow up to 70-80% in most major currencies – including
Euros - for purchases and re-mortgages of properties in Cyprus (Re-mortgages
are subject to the funds remaining in Cyprus).
Maximum loan to value 70/80%
Minimum loan of £20,000, no maximum
Maximum term of the loan is 40 years in
Cyprus pounds or 25 years in all other major currencies
Loans available in Euros, Sterling, US
Dollars, Swiss Francs and Yen
Repayment and interest only mortgages
available
Current interest rates as available from
approximately 5.45%
The income criteria is variable
Bank Reference and Employers or
Accountants reference if self-employed
Existing borrowing in the UK and Overseas
will be taken into account
Typical example
Repayment mortgage
of approx € 70,000 over a period of 25 years at an interest rate of
approx 5.45% Variable = approx € 433.50 = a total approximate amount
payable over the term of approx € 132,930 including capital, interest,
arrangement and survey fees.
details are subject to change, so you must check with your
broker on the link above before committing
