In order to finance the expenses for buying a plot of land, a new house or have your existing property refurbished you might require to take a loan from a bank. Many Greek banks now offer loans specifically for EU residents.
Most banks in Greece offer:
- Mortgages in euros, however, there are some banks that give you the choice of currency for your loan.
- Low fixed or variable interest rate or a combination of the two, according to your needs.
- Up to 100% finance of the property value depending on your financial status.
- Second mortgage on the same property, according to the property value.
- Early repayment, partial or in full at any point of your mortgage.
- Full or partial insurance coverage of the property and the borrower at low premium rates.
If you want to be prepared for a visit to a Greek bank as a prospective client in search of a loan, you should have with you the following basic documents:
- National Identification Card or your passport.
- The most recent Income Tax Clearance Form.
- The most recent payment slip or official transcript of monthly wages issued by your employer.
- Two recent Income Tax Slips E3 (for freelance professionals).
- Property ownership titles or the construction pro-forma budget, prepared by a civil engineer, in case of a construction or a renovation.
You should always be aware that each bank has different policies and processes, so keep in mind that all information included in this article are meant be used as your starting point. If you are in the process of looking for a loan, you should visit several banks, compare what they are offering you and decide based on your personal interest.Of course our experienced staff here at Giakoumakis Real Estate are happy to offer you any kind of assistance. Additionally we have a wide network of accredited professional associates to recommend that will help you in any way.