Floating rate with 0.50%+ spread

You get a floating rate based on the Euribor 3Μ + spread up to 0.50%, regardless of the loan amount and financing percentage.

Law 128/1975 levy

According to Law 128/1975, all loans are subject to a levy that is paid to the Greek State.

For the Always in your favour mortgage loan the levy currently stands at 0.12% or 0.60% for a shop or office. 

APRC example

For a €100,000 loan, with a 20-year term (240 instalments), 3.0% floating interest rate (Euribor 3m 2.50% + 0.50% spread) plus 0.12% Law 128/1975 levy, €0 loan processing fee, €420 engineering inspection and due diligence fee and €19.40 monthly home insurance premium, the Annual Percentage Rate of Charge (APRC) is 3.61%, the monthly instalment is €564.60 and the total repayment amount is €134,847.56.

When the Euribor changes, for the monthly instalment to remain fixed, the loan term and/or the interest rate spread may be adjusted automatically. In this case, the APRC may differ from the one stated above. For example, if the Euribor 3m increases to 3.50% (from 2.50% stated above) and the loan term is extended to the maximum possible, that is by 8 years (with 96 additional instalments), the APRC will stand at 4.63%.

Have a look at the deposit and loan interest rates.

From €15,000 to €500,000

The loan amount depends on:

• Your income.
  
• Your other liabilities and living costs.
  
• Any other collateral.
  
• The estimated commercial value of the property you offer as collateral.
  
  

Up to 90% financing

Secure financing up to:

• 90% of the property commercial value, if it’s your 1st home.
• 80% of the property commercial value, if it’s not your 1st home.

With mortgage lien

To get the Always in your favour mortgage loan, you must offer some form of collateral, i.e. mortgage lien on a property. That may be either the property you are buying or another property of your choice.

Alpha Bank fees

To conclude the loan process, you pay:

• €0 for us to review your application.
  
• €420 for the associates who will carry out the property engineering inspection and due diligence.
  
• €359.60 for the lawyer who will represent Alpha Bank during the registration of the mortgage lien.

Third-party fees

Apart from the fees to Alpha Bank, you also pay:

• 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).

Mandatory property insurance

If you take out a mortgage, you must insure your home against fire, earthquake and flood, and bring the insurance policy to a branch.

You may opt for the Home insurance plan we offer in cooperation with Generali, as an insurance intermediary.

Optional borrower insurance

You may opt for the Borrowers mortgage loan insurance plan we offer in cooperation with Generali, as an insurance intermediary. This way, if something unexpected comes up, your outstanding loan balance and accrued interest will be paid on time.

In up to 30 years

You repay the loan in up to 30 years.

The term of your loan is adjusted depending on market fluctuations:

• Decreases when interest rates drop. 
  
• Increases when interest rates rise.  

With a special mechanism

For your loan instalment to remain fixed, we apply a special adjustment mechanism (accordion) on the loan term and, where needed, on the interest rate spread.

In this way, the monthly instalment remains fixed, and the loan term is automatically adjusted. Depending on interest rate changes, the term may be extended by up to 8 years.

In the event the loan term decreases, you repay your loan faster and the total cost is reduced. Accordingly, in the event the loan term increases, the total cost may also increase.

The fixed-instalment mechanism is applied according to the loan terms. If you are more than 90 days late in making a loan payment, the mechanism automatically stops applying. 

When the 8-year limit is reached and it is no longer possible to keep the monthly instalment the same, we activate the instalment cap mechanism. This lowers the spread you had originally agreed upon. We, therefore, ensure you will not be paying more for your interest rate and we absorb any extra costs. 

With interest-bearing monthly instalments

Your monthly loan instalment remains fixed through the special mechanism, whether your floating rate goes up or down, and provided that the loan terms are met.

Once we sign the loan agreement, we open an account whose exclusive holders are you and any other person participating as a borrower in the loan. 

The interest-bearing monthly instalments of your loan, i.e. the instalments gradually repaying both interest and principal, are paid automatically by standing order through this account.

Early loan repayment

You may repay your loan at any time without any charges.

If you make a partial early repayment, your monthly instalment does not change.

Find out how you can repay your loan earlier in full or in part.