Cyprus properties investments mortgage application


In Cyprus Properties | Real Estate Cyprus | Properties for sale Cyprus

Securing a mortgage in Cyprus is not as difficult as it seems. Marinos Kineyirou Estate Agencies LTD is willing to help and advise you throughout the process of getting a mortgage in Cyprus.

Here is some useful information about mortgages in Cyprus:

  • Most banks in Cyprus offer mortgages both for foreigners and locals.
  • We recommend contacting your bank to discuss for a mortgage before the purchase, in order to check the mortgage rates and decide whether the required payment is realistic to you or not.
  • After completing the loan agreement, the purchaser provides a 30% of the property price.
  • The loan value is normally up to 60% of the value of the property
  • The Cypriot interest rates are currently around 8%.
  • Life and property insurance is required when getting a mortgage in Cyprus.

After completing the mortgage application form, you should provide the bank with the following information that is normally required by the banks of Cyprus:

  • Personal details
  • Copies of passport (the first two pages)
  • Documentation of any debts, loans
  • Proof and declaration of personal income
  • Bank reference
  • The original purchase agreement/contract
  • Copies of bank statements for the last 3 months
  • Copies of receipts for deposit payments for the property
  • Open and activate a bank account
  • Acquire permission from District authorities for the purchase of real estate property.