A mortgage in Cyprus – an easy way to a dream!

Do you dream of having your own house or apartment with mountain or sea views? Do you want your children to grow up in comfortable climatic and environmental conditions? We recommend a closer look at real estate in Cyprus. Fresh bonus for potential owners – more loyal conditions for obtaining a mortgage loan.

Basic conditions for obtaining a loan

A mortgage loan is issued by Cypriot banks on bail, which is the acquired property itself. If at some point you cannot repay the loan, then the bank takes the purchased object – an apartment or a house.


Get a mortgage in a Cypriot bank can only be one who has documented his solvency. The list of documents for concluding a loan agreement in each bank may vary.

Mortgage Rates

Banks offer several rates for mortgage lending – the borrower is given the opportunity to choose. Rates may depend on the internal indices of the financial institution or are determined in accordance with the EURIBOR index.


When concluding an agreement, it is important to specify how the rate will be recalculated – every six months or for awhile it will be fixed.

Down payment and loan term

For registration of a mortgage, it is important to have an amount in order to immediately pay up to 40% of the full price of a house or apartment. This will be the first installment. A mortgage loan is issued for the remaining amount. In some cases, it can cover 70% of the price of the object.

The amount taken on credit will need to be returned to the bank with interest for at least 10 years. You can draw up a contract for a longer period. The maximum period is determined individually for each client. For example, if the borrower is 40 years old, the maximum loan term will be 30 years (70 years – 40). With the early repayment of the loan, you will need to pay a fine.


Check-in which currency a loan is needed, since in Cyprus most often a mortgage is issued in euros. But by agreement, the loan transaction may be in dollars.

Installment plan from the developer

If for some reason you do not want or cannot get a loan from a bank, you can arrange an installment plan with the developer. This procedure is much simpler. But the full cost of real estate will need to be paid out within 24 months, unlike a bank that provides a mortgage for 10 or more years.

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