buying a home

[tonyandjayne]

hi when we move to cyprus would it be easy to get a morgage and what sort of deposit would we need.

[kouklamou]

Originally Posted by tonyandjayne

hi when we move to cyprus would it be easy to get a morgage and what sort of deposit would we need.

Bank of Cyprus has a useful article, under "Housing Loans" on their website, which may be viewed in English.

[weeksy9]

Weclome guys!

You would be able to get a mortgage from a bank, typically though they give loans ranging from 60%-80% but the norm is 60% now and they want the buyer to pay the initial sum for the purchase before they release the mortgage amounts.

Hope thats useful

Andy

[Cleo Shahateet]

You can get a loan if you have proof of income, accounts and all your paperwork in order, however it is not easy and it seems the rules and requirements constantly change from customer to customer. I have a sale that took 13 months to close due to financing problems. Another buyer was asked to get a credit check from a US based company even though he was from Scotland and lived in Dubai - no US address or connection which was needed to complete this check. Laiki bank "kindly" waived that odd requirement. I would go to several banks and talk to someone personally at each branch if possible.