GR EN
Digital banking

How to take out an Alpha First Home mortgage loan

Find out the detailed process and supporting documents to apply for a First Home mortgage loan, online or at a branch.
Apply now

How to get loan pre-approval online

Log into web banking and apply for loan pre-approval, even if you haven’t found a property yet.
Apply now

1. Set up your loan

On the “New Products” section, choose Mortgage loan > Apply now.

Fill in the details for the loan and property. We’ll calculate the interest rate and the instalment, and we’ll propose the loan that best meets your needs.

The application is saved automatically. You can continue at any time if you choose History > Product applications > Loans > Continue application.

 

2. Fill in your details

Confirm that the pre-filled details are correct and fill in the rest.

Answer a few more questions so that we can assess your First Home mortgage loan application.

Once you’ve filled in the fields, choose “Continue”.

 

3. Upload the supporting documents

Upload the supporting documents for your income, property and profession.

Choose “Continue”.

 

4. Add co-debtors and/or guarantors

Add co-debtors and/or guarantors, if needed. Fill in their tax number, their role in the loan and their relationship with you. 

Once you’ve completed your part of the application, they’ll also need to fill in the application through their web banking. They will be notified by email, text message and a pop-up once they log into their web banking.

Choose “Continue”.

 

5. Complete the application

Choose a branch near you and then “Continue”.

Confirm that the loan details are correct, and read and accept the terms. Click on “Submit application”.

If your application is approved, we notify you by email in 2 business days. Otherwise, we contact you in 3-5 business days.

The loan pre-approval is valid for 90 days. If you don’t come to a branch within this time to complete the process to take out the loan, you’ll need to resubmit a loan pre-approval application.

How to get loan pre-approval at a branch

Book an appointment at a branch so that we can go through the steps together, even if you haven’t found a property.

Find out more about mortgages and home loans

Book an appointment to visit a branch near you. To book your appointment, choose Loans > New mortgage loan. You can also have your appointment by video call.

We present the mortgage loans that meet your needs and check whether the First Home mortgage loan is suitable for you.

You receive the pre-contractual information document to get detailed information; you sign it and keep 1 copy. 

We tell you which supporting documents you’ll need to apply. If you already have them with you, we’ll file the application on the spot.

 

Apply for loan pre-approval

Once you bring the necessary supporting documents, we fill in the application form for the loan, you sign it and we send it for assessment.

We inform you over the phone or by text message whether your application has been approved or not, and we send you the loan pre-approval or rejection letter.

If your application is approved, it will remain valid for 90 days. During this time, you must find the property and visit the branch for the engineering inspection and due diligence. The loan pre-approval is not binding if you change your mind.

 

What you need to take out the loan

Find out in detail what you need to do once you’ve gotten loan pre-approval and found a property.

Going through engineering inspection and due diligence

Once you find the property, bring the necessary supporting documents for the engineering inspection and due diligence. You sign the authorisation so we may collect the fees (currently at €420) and start the process.

Our lawyer reviews the legal status of the property at the Land Registry or the National Cadastre. Our engineer verifies that the property complies with legal requirements and determines its value.

 

Getting final approval and signing the agreement

Final approval

As soon as we confirm that the property meets the conditions for a loan, we proceed with the final approval.

We check the final purchase agreement and you sign the:

Agreement signing

5 calendar days later, you sign the:

  • Loan agreement
  • Addendum with the loan terms
 

Placing a mortgage lien on property

Mortgage lien on property

Bring the supporting documents for the property mortgage lien and sign the application for disbursement, i.e. to receive the amount. 

The mortgage lien on the property is registered at the competent Land Registry or National Cadastre.

Mortgage lien expenses

There are mortgage lien expenses for Alpha Bank and third parties:

  • €359.60 for the lawyer who will represent Alpha Bank during the registration of the mortgage lien. 
  • 0.80% or 0.90% on the mortgage lien amount, to register the mortgage lien at the Land Registry or the National Cadastre, respectively.
  • €20 for each act registering a mortgage lien at the Land Registry or the National Cadastre.
  • €160 for the lawyer issuing the registration act.
  • €9.50 to issue certificates from registry books.
  • €6.50 to issue additional certificates for the same title.
  • €33 to issue a cadastral survey extract.
  • €15 per National Cadastre Code Number (KAEK) to issue the Cadastral Diagram Extract.
  • €35 per right to declare the mortgage lien rights to the National Cadastre (or €20 for storage rooms / parking spaces that form individual properties).

Apart from the expenses you pay through Alpha Bank, you will also need to pay a lawyer you choose to represent you when registering the mortgage lien.

Property insurance

Insure your property against fire, earthquake and flood at an insurance company we work with or any other insurance company you choose. In the latter case, you need to bring an insurance policy in force to the branch.

 
Tip: You may choose the Home Insurance plan we’ve designed in partnership with Generali, and ensure the necessary protection for your home. 

Getting the money

Loan disbursement

Once the mortgage lien process is concluded, we notify you to come and collect the loan cheque. The cheque is issued in the name of the seller. Alternatively, we deposit the money in their account.

If you want to build or renovate a home, you receive the loan amount in instalments. Before each disbursement, an engineer must certify the performed works onsite. 

Additionally, you sign the standing order for the loan instalments.

Purchase agreement repayment

Once you’ve paid off the property, you bring to a branch near you the original full repayment notarial act.

 

Find useful documents

Download useful documents concerning mortgages and home loans.

Supporting documents to apply for a mortgage or home loan

Your mortgage loan put simply

No personal digital banking?

Get credentials

From your computer or mobile

If you hold an active Alpha Bank debit or credit card, you can get credentials on the spot, without visiting a branch.

Sign up to digital banking Sign up to digital banking

Start banking with us

Online, without visiting a branch 

Open your first account with Alpha Bank and get digital banking credentials online.

Open an account Open an account

Any questions?

Find the answers you need about the First Home mortgage loan.

Which loan should I choose depending on my housing needs?

For any housing need: Alpha Residence. This loan will help you buy a house or plot (ripe for development) and also build, finish or repair your home. You can choose a fixed or floating interest rate and request a low start period. Find out if Alpha Residence is right for you.

To renovate your home: Alpha Residence Renovation When you are doing small-scale renovations, you can take out a floating interest rate loan, without the need for a mortgage lien, through very fast financing procedures. Find out if Alpha Residence Renovation is right for you.

Is there an extra charge if I repay my mortgage loan earlier?

If you’ve chosen floating rate for your loan and as long as you’re consistent with the loan repayment, you may pay additional instalments or repay the entire loan amount earlier at no extra charge.

If you’ve chosen fixed rate, there might be an extra charge for early repayment. To be sure, check the terms of your agreement or book an appointment with a representative at the branch where you took out the loan.

 
View all the FAQs

Take out an First Home mortgage loan

Secure up to 90% financing for your first home. Apply for loan pre-approval from your computer or book an appointment at one of our branches.
Book an appointment Book an appointment