Cyprus REAL ESTATE MORTGAGE LOANS BANKS
Cyprus banks provide long-term bank loans mortgage loan for purchasing property in Cyprus with a low interest rate. Central Bank of Cyprus establishes the basic% rate on the loan. Now it is 5,5%.

You can also get credit for the purchase of real estate in a foreign bank or private bank.

Cyprus banks to lend to purchase property in Cyprus on the following conditions:

Credit is given for up to 15 years.
Down payment is 30%. (If you purchased property in Cyprus for the first time)
Loan rate - Libor +2,5%.

Credit for the purchase of real estate in Cyprus banks may receive the following individuals and organizations:

foreign nationals (non-residents of Cyprus);
international companies and their employees;
Cypriot citizens living abroad permanently;
Cypriot citizens who want to borrow in foreign currency (this loan is available only for purchase of residential or office space in Cyprus).
The loan has the following characteristics. It can be issued in any currency chosen by the client (the U.S. dollar, euro, pound sterling, and so on). Credit for non-residents of Cyprus is only granted for the purchase of finished or under construction house or apartment and may not be granted for the purchase of land. Loan amount can be anything, but not more than 70% of the value of the property. Credit for the purchase of property in Cyprus must be repaid within 10-15 years, deferral is not granted.

Interest

The annual interest rate equal to LIBOR (the rate of 1, 2 or 3 months depending on the customer’s choice) plus a margin to 2,5%.