Mortgages Now Available with unlimited balances

Until recently mortgages in Cyprus were limited to
CY£150,000
70% Loan 30% deposit
High interest rates 6.8%
10 years maximum pay back
A £140,000 property would require £40,000 deposit the balance of £100,000 would cost £6,800 pa in interest and £10,000 pa in capital. A total repayment of £16,000 pa  £1,380 per month
 

Now things have changed- for the better
Unlimited funds
85% loans
interest rate down to 3.2%
Interest only up to 25 years or to 70 years old based on the younger applicant
£140,000 property requires £21,000 deposit. The balance of £119,000 at a cost of £3,808 pa and £317 per month on an interest only mortgage.

That's a huge difference, over £1000 per month cheaper now.

The effect of this is that buy to let is at last worthwhile. That same property at £140,000 would rent for £450 per month o a long term rent and for holiday rentals £500 per week in peak season.

You can also have a mortgage pre-approved with the help of

"Mortgages Direct Cyprus"

Can also how you how to get a 100% mortgage before 2007

If you would like further information on mortgages, just send your details in the form below

They will get back to you with some quotations to give you an idea of mortgage costs together with the bank set up fees and any life insurance required

How to save money and the best deals on the market in Cyprus

It would be well worth your time finding out these details if you are serious about buying in Cyprus