Advices

ADVICE #254

How to receive mortgage in Greece?

Before the financial crisis, interest rates on mortgage loans in Greece were relatively low at 5%-6% per year. Nevertheless, to date, they have jumped almost half, and to be 9% -10% per year. The banks often make loans in the amount of 60% of the cost of housing: this means that in the hands of the applicant should be almost half the amount required.

The mortgage loan requires additional expenses. The procedure itself will cost 350 Euro. Even 650-1000 Euro will have to pay for the legal and engineering validation and 150 Euro for the translation of all documents into Greek. You will also need to pay the registration deposit (usually 0.8% of the amount of the mortgage loan) and to take out insurance to housing.

Among the documents that must be submitted to the Bank for the loan - the application for the issuance of mortgage, national and passport (or certificate of residence permit or permanent residence), income certificate for the last three years, an extract from the current Bank statement showing the presence of 40% of the amount of the transaction, the agreement to purchase real estate designated therein by the amount of the first installment. In the case of approving the application a mortgage loan issued for a period up to 25 years.

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