# cyprus mortgages



## jonnyp1981 (Aug 29, 2013)

Hi There very new to this i was wondering if anybody new anything regarding cypriot mortgages at the moment i.e if any banks were offering any out online it does say Hellanic ? or laiki bank are is this true or not has anybody had any experience with this 

thanks Jon


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## Pam n Dave (Jun 11, 2007)

If you think that Laiki are still offering mortgages then you need to do a lot more homework I'm afraid. Your banner indicates that you are in Cyprus, I'm wondering for how long and if you were here in March.


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## Cleo Shahateet (Feb 23, 2009)

Piraeus bank is still offering mortgages with some changes to the requirements and under strict restrictions. Customers must provide more proof of credibility for less of a loan but, this has become the norm in much of the world. Piraeus Bank in Paphos has some new rules listed below.

A person requiring a mortgage needs: 

PFS (Personal Financial Statement) to be completed and signed by the applicant. The debt to income ratio to be less than 30%
Concrete proof for the sustainable repayment ability.
Copy of passport
Bank Credit reference (Strong proof for the credibility)
Last 12 months bank statements of all accounts, i.e. current account and loan accounts – especially statement of the account where salary and other income is deposited
Tax declaration form for the last three years.
Recent 3 months pay -slip or contract of employment
Proof of permanent address (i.e. utility bill)
Customer’s contribution should be 50% of the purchase price. (The lowest the Sales contract or the recent valuation)
Title deed for mortgage.
Building permit
Valuation report (To be executed by the bank).
Once the loan is approved it will be under the following conditions: 

Life insurance in the name of the applicant for the loan amount
1st mortgage for the loan amount
Fire & earthquake Insurance
Personal guarantee if the loan is not joint (two persons)

Not many people have managed a loan even with these stricter requirements but you could try if you have all of the above.


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## PeteandSylv (Sep 24, 2008)

You forgot to mention that one testicle must be deposited with the bank for the full term.

Bloody banks. They go from one extreme of stupidity to another!

Pete


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## PeteandSylv (Sep 24, 2008)

andyblack said:


> i was in the same predicament, i found some helpful info on this site<moderated.
> it has all the info about the documents you need as well
> <moderated>hope this helps


It ain't gonna help you, buddy, when your advertising gets deleted.


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## Veronica (Apr 5, 2008)

PeteandSylv said:


> It ain't gonna help you, buddy, when your advertising gets deleted.


How well you know me Pete


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## Pam n Dave (Jun 11, 2007)

You'r slipping Veronica, the link is still in Pete's post or are you to scared to delete that as well.


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## Veronica (Apr 5, 2008)

Pam n Dave said:


> You'r slipping Veronica, the link is still in Pete's post or are you to scared to delete that as well.


 I think I was in the process of deleting it while while you were typing:rofl::rofl:


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