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Greek Mortgages

A mortgage could be secured on your new property in Greece.  For this option a simple Pre-qualification Questionnaire is completed and processed free of charge thereby avoiding any unnecessary wasted time and money.

A brief guide to Greek mortgages follows.

1. Eligibility and Criteria

  •  Available for purchases and re-mortgages
  •  Loans available in Euros only.
  •  Available on a Capital & Interest repayment basis
  •  The maximum loan to value for a purchase is 70%, Construction loans are also available.
  •  The maximum term is 25 years – available to age 70.
  •  The minimum loan amount is €25,000

All schemes require full documentary evidence of income – ‘self-certification’ mortgages are not available

2. Affordability

To qualify for a mortgage in Greece, a calculation is used to establish whether you can afford to maintain the mortgage repayments.

Your existing liabilities, including your UK mortgage or rental payments, UK council tax, loans, credit card payments and maintenance are taken into account, together with the proposed Greek mortgage payments.  All this must not typically exceed 30% of your monthly net income.  For example if your net joint income is £3,000, 30% of this equates to £900.  If your only liability is your current UK mortgage payment of say £500 per month, this would leave a balance of £400 for your Greek mortgage repayment.

The amount that you can borrow is also restricted by the maximum loan to value as mentioned under Eligibility and Criteria.

3. Proof of income requirements

If you are employed:

  •  Your last three month’s payslips
  •  Your latest P60 and/or employers reference
  •  Your last three month’s personal bank statements

If you are self-employed:

  •  Your last two year’s audited accounts or Accountants reference (Euro loans only)
  •  Your last 3 month’s personal bank statements

Other documents will be required and will be confirmed when application forms are sent to you.

Please note your home may be repossessed if you do not keep up repayments on your mortgage

For more information call + 30 697 432 1294 or email info@karetta-realty.com

UK Mortgages

If you require a re-mortgage or second mortgage using your UK home to release equity for the purchase of your Greek property then we can provide you with all the assistance you need through an independent financial advisory service.

Your advisor will have a wealth of experience of advising in the UK mortgage market and will be fully qualified.

The independent financial advisory service will look at your individual case in detail and offer you a no obligation quote free of charge. No fee is payable by you should you decide, for whatever reason, not to proceed.

Please note your home may be repossessed if you do not keep up repayments on your mortgage

For more information call + 30 697 432 1294 or email info@karetta-realty.com

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