Cyprus

What is covered?

• Purchase of completed properties and those under construction

• Purchase of land for development

• Renovation & refurbishment of a property

• Remortgage products available

Type of loans available:

• Capital repayment for maximum 35 years with 5 years interest-only

• Full-term interest only for 15 years

• Fixed rates available for 3 or 5 year periods

• Construction loan and Stage payment loans are also available

Loan to Value:

• Up to 80% for second home purchase

• 60% LTV on properties that have planning permit prior to 22/08/07

Typical Current Interest Rates:

• Euros: 6.14%

• Swiss Francs: 4.27%

Maximum Term of mortgage:

• Maximum 35 years for Euros

• Maximum 15 years for Swiss Francs

Maximum age at completion:

• Maximum 70 at loan maturity

Documents required:

• Copy of passports and birth & marriage certificates

• Pay slips, P60’s, bank statements for employed

• Accounts and tax returns for self-employed

General fees to consider:

• Bank Arrangement fee: Generally 1%

• Fidentia Fee : 0.5% payable on application

• Legal & Valuation fees - Generally allow approximately 10% for all fees and charges