Legal & Financial - Mortgage Finance

Commercial banks and Cooperatives in Cyprus are authorized to offer mortgage facilities to local and foreign applicants to assist in purchasing property (ies) in Cyprus.

General Information

• The loan can be granted in Cyprus Pounds or Foreign Currency (e.g. USD, EUR, GBP, ETC)
• For a loan in Foreign Currency the maximum repayment period can be 15 years
• For a loan in Cyprus Pounds the maximum repayment period can be 25 years
• The maximum loan amount will be 70% of the value of the purchased property
• The loan is repaid by monthly or quarterly installments
  

Securities:

1. For certain projects Lnas Developers Ltd has managed to set up finance schemes with local banks with minimal security requirements resulting in substantially lower costs
2. Assignment of the Purchaser’s rights deriving from the Contract of Sale in favor of the Bank
3. Assignment of a Level Term Assurance Policy for the initial amount of the loan and for the full period
4. Any other Securities the financial Institution may require
   
   

Financial Institutions During the Process may require the following Information:

1. Property Sales Agreement
2. Customer’s profile
3. Passport copies
4. Statement of existing debt (if any)
5. A reference Letter from the Banks you cooperate with
6. Completion of the attached Declaration of Personal Income
7. Evidence of income
8. Bank statements copies for the last three months
9. Any other documents the credit officer may require

LNAS Developers Limited upon requisition may consult to clients that wish to acquire a property under mortgage. For further information or assistance don’t hesitate to contact us

Email: enquiries@lnas.com.cy

Or

Tel: +357 24828610
Fax: +357 24828611