If a lender is required, the buyer should establish how much they need and how much they may borrow in order to finance a Cyprus property purchase. Banks are very cautious these days, loans are difficult to obtain, and will only be granted if the property has a title deed or a Bank Guarantee from the developer.
Relux Estates, taking advantage of its strong relationships with most of the local banks, in an attempt to reduce finance costs for its customers and to speed up the application process, has managed to set up special finance schemes on offer to all our customers.
Depending on status, which is more important nowadays than ever before, different banks have rates ranging from 4.40% to 7%.The repayment terms also vary, depending on the lender and the buyer's individual requirements. The Loan can be repaid within a period of 10 to 40 years or until you complete your 65th birthday (whichever comes first).
The mortgage calculator will show you how much your monthly payment will be. Mortgage calculator