Mortgages in Cyprus

[Amilia]

Hello everyone! Do you know the current mortgage rates in Cyprus? I have heard about 5-7%, is it right?
And are these docs enough for applying? Thanks in advance!

passport;
letter of recommendation from the applicant's bank;
proof of income (salary / tax certificate);
bank statements;
copy of the sales contract.

[Nigel Howarth]

Amilia,

Unless you can secure the Title Deed to the property, you will apply for a 'home loan'. Once the deed has been issued and transferred to your name, the bank will convert the 'home loan' into a mortgage - and the Land Registry will charge you 1% of the loan advanced.

The banks post their interest rates and charges on their websites. You will find the Bank of Cyprus rates by clicking here. THe others should be easy to find using Google.

There are also a number of companies who will arrange local financing on property.

Regards,