Down payment

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Gusha
Posts: 2
Joined: 25 Jul 2018 14:04

Down payment

Post by Gusha »

Hello Everyone,

I am facing a problem with House loan because of down payment. Maybe someone had the same issue.
I have quite high income and found my dream house, but have no savings to pay down payment of 30%.
Market value of the house is much higher then sale price (as it is quick sale). The difference between value and price is around 30-35%.
Do anyone knows if there is any bank, which would accept this difference as down payment?

Please please… Thanks a lot!
Nigel Howarth
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Posts: 2911
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
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Re: Down payment

Post by Nigel Howarth »

Hi Gusha and welcome to the forum.

I doubt you'll find a bank in Cyprus that will give you a loan without a 20%-30% deposit. The banks are much more risk averse following the hole they dug for themselves a few years ago.

There is a company that may be able to help. See my earlier post at viewtopic.php?t=1161

Regards,
Nigel Howarth
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Gusha
Posts: 2
Joined: 25 Jul 2018 14:04

Re: Down payment

Post by Gusha »

Hi Nigel,

Thank you very much! Will try to check with this company.

All the best!
Pantheman
Posts: 807
Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: Down payment

Post by Pantheman »

Nigel Howarth wrote: 25 Jul 2018 14:54 Hi Gusha and welcome to the forum.

I doubt you'll find a bank in Cyprus that will give you a loan without a 20%-30% deposit. The banks are much more risk averse following the hole they dug for themselves a few years ago.

There is a company that may be able to help. See my earlier post at viewtopic.php?t=1161

Regards,
That company is no longer in existence AFAIK.
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