Mortgage Terms & Conditions
Mortgages are offered on Alpha Panareti properties on the following terms and conditions:
- A minimum 20% of the total purchase price as the contribution from the Purchaser
- A maximum of 80% of the value on the mortgage agreement
- The maximum mortgage available is EUR 427,150
- Repayable over 10 years, 15, 20 or 25 years if circumstances permit (age restrictions)
- Interest will be charged at about 3% or less, on the amount of the mortgage plus Bank and other official fees.
- Repayments begin one month after delivery of the property
- Assignment of Life Assurance to the Bank for the duration of the mortgage may be required
- The mortgage can be administered in Foreign Currency by the Bank, to gain the best financial advantage
- The Purchaser will have the opportunity every 3 or 6 months to pay lump sums into the mortgage to reduce the total, or to pay it off in full, without penalty
- Repayment instalments can be made monthly or quarterly, by arrangement
- Mortgage set up fees will be added to the sum, unless otherwise advised.
- This mortgage is only available against Alpha Panareti properties.
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