Cyprus Mortgages

The Essential factor for getting a mortgage, is that the buyer needs to make an up-front payment of 20% to 40% of the aggregated cost of the property. Depending on the conditions credit rates can vary from 2% to 4% for users and 6% for investors.

Required documentation:

  1. Passport.
  2. Utility bill.
  3. Proof of Income
  4. Bank reference.
  5. Curriculum.

For Employees:

  1. Payslips of last 3 months.
  2. Proof of any other income.(if applicable)

For Self-employed:

  1. Copy of VAT statements submitted since the last balance sheet date;
  2. Proof of any other stable income(if applicable);
  3. Tax declaration (for loans above €50.000);
  4. Social insurance (for loans above €100.000);
  5. Confirmation of income by accountant (for loans above €100.000).

For Legal entities:

  1. Copy of VAT statement submitted since the last balance sheet date;
  2. Original of income tax clearance for the last two years available;
  3. Audited financial accounts of last 3 financial years (for loans above €50.000);
  4. Management / financial accounts of relevant quarter (for loans above €50.000);
  5. Business plan with budgeted cash flows for the next 2 years (for loans above €100.000).
  6. Title Deed.
  7. Purchase Agreement Contract.
  8. Evidence of advance payment.
  9. Insurances (if already exist).
  10. Copy of existing Mortgage.
  11. Proof of good track record (statement of the existing loan for the last 3 years