Greek mortgages are readily available from local banks, easy to obtain and often offer lower interest rates than the other European countries. We are happy to assist customers find a mortgage which meets their needs.
Selling your home?
If you need a Greek mortgage to buy your Crete property while you sell your house in your home country, we offer the option for you to defer repayments on the loan for up to one year. Contact us to find out how this works.
Here is some general information about mortgages in Greece.
Types of mortgages available
Greek banks offer a variety of mortgages to suit different needs. For example:-
Fixed interest rate mortgages
Low and Variable interest rate mortgages
Deferred mortgages
Grace periods and flexible payment plans
Long repayment periods
Monthly repayments or gradual disbursement of loan according to construction
Partial or full repayment
Up to 80% of the commercial real estate value of the property (subject to status)
Supporting documentation
The bank will give preliminary economic approval for a mortgage based on income. The documents typically needed by the bank are:-
Passport (and a copy of the passport)
Wage slips or pension statement for the last 2 months
Tax return (P60 for UK) for the last 2 years
For the self employed, tax returns and business accounts for the last 2 years
Credit report and credit score from Experian (Go to http://www.experiangroup.com/corporate/tools/locations/ and select your country)
Additionally, the bank may require a statement of creditworthiness or a reference from your bank or employer in your home country
Power of Attorney
It is necessary for you to give Power of Attorney to a locally based Greek lawyer, who can work with the bank to complete all legal checks and documentation required for final approval of the loan.
Insurance
Many banks offer insurances to cover the property against theft and earthquake, life insurance and payment protection plans.
