Housing Loan? Ask us !

Greek mortgages are readily available from local banks, easy to obtain and often offer lower interest rates than the UK. New Century Homes is 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, New Century Homes offers 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
• Swiss Franc mortgages with low interest rates
  
• Monthly repayments or gradual disbursement of loan according to construction
• Partial or full repayment with no penalties(subject to mortgage terms)
  
• 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 3 months
• Tax return (P60 for UK) for the last 3 years
• For the self employed, tax returns and business accounts for the last 3 years
• Credit report and credit score from Experian in the UK (Tel: 0044 844 481 8000 / website: http://www.joincreditexpert.com) or a similar agency in other countries

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.