Property Finance

Property loans (in a number of currencies) can be obtained for the following purposes:

•  Purchase of a house

•  Land for Housing Purposes

•  Renovation / Restoration / additions to property

•  Holiday Homes

•  Professional Property (offices / shops)


The loans are usually guaranteed by:

• i. Mortgage on property.

• ii. Insurance on property

• iii. Life insurance on the client not always required

• iv. Personal guarantees

•  Insurance on the property can be based on the reducing balance of loan balance so that the premium is reduced as the loan is paid

•  The loan period is up to 15-20 years.

•  The interest rate is based on the basic rate of interest, which is set up by the Central Bank of Cyprus (present rate 4.50%) plus 1.50%-2% placed by the Bank.

•  The loan can be based on a fixed rate for certain years (2-4 years) or on a floating rate which changes every time the Cyprus Central Bank changes the rate downwards or upwards.

•  The loan can be free from instalments (payment of the interest only) for a period of two years (in some cases for up to 4 years).

•  The loan is payable within the stated period or when the client reaches the age of 65 years old, whichever comes first. Further details can be obtained from all the banks but our Office can arrange property finance as well.



For more information please refer to KPMG website