What is it?
It is a mortgage loan which combines the safety of having fixed monthly installments along with the flexibility of a variable interest rate.
How does it work?
• The first installment is "locked" (fixed) and remains as such for the whole period of your loan.
• In case of a possible interest rate increase, at the end of your loan term, the following options are available, regarding the remaining loan amount:
1. Full settlement.
2. Extension of your loan term with new, preferential terms and conditions.
• In case of a possible interest rate reduction, your loan will mature earlier than the predetermined fined loan term.
• Purchase, construction or renovation of First permanent residence, vacation house, business premises or just for investment purposes
• Mortgage on the immovable property under consideration
• Fire and earthquake insurance for the mortgaged immovable property
• Life insurance policy
• Personal guarantee
What are the benefits?
Better financial planning through fixed installment
• Fixed monthly installment for the whole loan term.
• Low variable interest rate plus a spread which remains fixed for the whole loan term.
• Immediate disbursement.
• Comfortable repayment with a loan term of up to 40 years. In any event the debtor cannot exceed the age of 70 at loan maturity
• Grace period on capital of up to 24 months when you construct or complete your property.
• Possibility of partial or total loan repayment any time you wish.
For more information, please visit today one of our branches or call at 800 11 800 (+357-22575555 from abroad) 24 hours / 7 days a week.
Documentation Fees: €50. Arrangement Fees: 0.25%
The approval of the loan is subject to the admission of satisfactory guarantees by Piraeus Bank (Cyprus) Ltd. The Bank reserves the right to wirthdraw or ammend the present offer at its absolute discretion.
WARNING: You run the risk of losing your immovable property if you do not pay your mortgage installments on time or any other loan installments which are secured by mortgage on your immovable property.