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Alpha mortgage loan for foreigners
Start living the dream in Greece
Discover the features
What’s the interest rate
Starting at 2.80% for fixed interest rate
If you choose fixed interest rate, you can secure a fixed monthly instalment for 1, 3, 5, 10, 15 or 20 years. This rate does not fluctuate over the agreed term.
The fixed interest rate starts at 2.80% and depends on the term you choose. The Law 128/1975 levy is added to the interest rate.
Floating interest rate with spread starting at 2.00%
You can choose floating interest rate based on the 3m Euribor + spread + the Law 128/1975 levy.
The spread starts at 2.00%, depending on the loan amount and the financing percentage.
Have a look at the deposit and loan interest rates.
Law 128/1975 levy
All mortgage loans are subject to the Greek Law 128/1975 levy, which is paid to the State.
It amounts to 0.12% for financing a home and to 0.60% for financing other properties.
APRC example
The Annual Percentage Rate of Charge (APRC) is the total credit cost, expressed as an annual percentage of the total credit amount:
For a loan of €100,000 with property prenotation, 20-year term (240 monthly installments), with 2.80% fixed interest rate for the first year and then floating interest rate Euribor 3M (2.10% - ref. date 27.05.25) plus spread 2.20%, €430 lump-sum loan processing fee, €420 lump-sum engineering inspection and due diligence fee, €16.90 monthly home insurance premium, APRC 4.76% (including 0.12% Law 128/1975 levy), €554.64 monthly installment, €149,729 total repayment amount.
How much you can borrow and for how long
From €15,000
There are 3 main criteria for us to calculate how much money you can get for a mortgage loan:
- Your income.
- Your other debts and living expenses.
- The estimated commercial value of the property you offer as collateral.
You may receive up to:
- 80% financing of the property commercial value if you live permanently in an EU country.
- 70% financing of the property commercial value if you live permanently in a non-EU country.
From 5 to 25 years
Your loan term may range from 5 to 25 years, depending on the country where you live:
- If you live permanently in an EU country, the maximum loan term is 25 years.
- If you live permanently in a non-EU country, the maximum loan term is 20 years.
With collateral
To secure the loan, a mortgage lien is registered for the financed property and/or another property of sufficient value. The mortgage lien usually amounts to 120% of the loan amount.
Pledging of deposits or other financial instruments can also serve as collateral.
What are the fees
Alpha Bank fees
To complete the loan process, you pay:
- €430 to us to process your application.
- €420 to our associates who will carry out the engineering inspection and due diligence.
- €359.60 to the lawyer who will represent Alpha Bank at the mortgage lien registration and €160 to the third-party lawyer who will issue the mortgage lien decision.
- €120 to the engineer for each works certification, in case of a loan with multiple disbursements.
Third-party expenses
Besides the Alpha Bank fees, you also pay:
- 0.775% or 0.875% (+ VAT) on the mortgage lien amount at the Land Registry or the National Cadastre, respectively.
- €60-80 (+ VAT) approximately to issue the relevant certificates.
- €15 (+ VAT) 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
Throughout the loan term, your property must be insured against fire, earthquake and flood at an insurance company you choose.
You may choose the Alpha Home Insurance plan we offer in partnership with Generali.
How you repay it
Monthly instalments by standing order
You repay your loan in monthly interest-bearing instalments, i.e. instalments that pay interest and principal.
The loan instalments are paid each month by standing order from your Alpha Bank deposit account.
You can pay more instalments or even the entire loan amount earlier, at no extra cost.
Flexible repayment
Depending on your financial situation and upon our assessment, you may:
- Increase or decrease your instalment for a specific period.
- Skip 1 instalment per year and incorporate it to the remaining ones.
- Change the interest rate type or loan term.
Can I get an Alpha mortgage loan for foreigners?
Apply provided you…
- Are over 18 years old.
- Are up to 75 years old at loan maturity.
- Have adequate income to pay the monthly loan instalment.
- Have an adequate Credit Bureau score.
- Hold an Alpha Bank account.
Have at hand…
The supporting documents to take out a mortgage loan, such as:
- Proof of ID
- Proof of annual income for the last 3 years
- Proof or property ownership
- Payslip of the last 2 months for salaried employees or copy of the financial statements for the last 3 years for self-employed individuals or business owners
- Credit evaluation report
- Proof of total deposit/investment products
The documents may be in English or officially translated into Greek.
Apply for a mortgage loan
1. Applying for and getting loan pre-approval
At a branch, in person or by proxy
You or your proxy visit a branch by appointment so we can inform you about the benefits, conditions and supporting documents for the Alpha mortgage loan for foreigners. Dedicated RMs are available at branches to assist you throughout the loan process.
Once you collect the supporting documents for the loan pre-approval and bring them to the branch, we fill in the application form together. If your application is approved, we send you the loan pre-approval letter.
Remotely, if you already bank with us
You can submit your application remotely through e-Banking, provided you already bank with us and have e-Banking credentials.
Fill in the contact form and a dedicated international advisor will contact you to assist you in applying remotely and answer any questions you may have.
2. Finding the property and signing the agreement
You have 2 months to find the property. Once you do, we inform you of the supporting documents you need to collect for the engineering inspection and due diligence.
If the property meets the conditions for a loan, we check the draft purchase agreement and send you the final approval letter along with the European Standardised Information Sheet (ESIS), and the draft loan agreement.
You have 10 days to evaluate the offer. At least 5 days must pass from the day you receive the offer, before you can sign the loan agreement.
During this stage you:
- Insure the property and the loan.
- Sign the disbursement application.
- Sign the standing order so we may collect the monthly instalment from your linked deposit account.
3. Registering the mortgage lien and taking out the loan
We inform you of the supporting documents you need to bring to us for the property mortgage lien. If you are pledging cash or financial instruments as collateral, a different process is followed.
Once the property mortgage lien process is concluded, you either collect the loan cheque issued in the name of the seller, or we deposit the money in their account.
Want to find out more?
Any questions?
Find answers to all your questions about the Alpha mortgage loan for foreigners.
Can I apply online for a mortgage loan if I live abroad?
Yes. However, you need to have e-Banking credentials to submit your application remotely.
You can fill in the contact form and a dedicated international advisor will contact you to assist you in applying remotely and answer any questions you may have.
Once the application is approved, you or your proxy representative should visit one of our branches to sign the mortgage loan agreement and proceed with disbursement.
Alternatively, you or your proxy need to visit a branch by appointment where you can submit your application.
Who can serve as a proxy for my mortgage loan application?
If you already bank with us and have e-Banking credentials, but are not located in Greece, you may appoint a lawyer with power of attorney as your proxy to apply for the mortgage loan, sign the agreement and follow the lien registration process.
The power of attorney must be drafted in Greek and be prepared and signed by a notary public, based on the Power of Attorney template we’ll provide.
Do I have to bank with Alpha Bank to take out a mortgage loan for foreigners?
Yes, you need to hold an account with us before taking out a mortgage loan.
How can I start banking with Alpha Bank if I live abroad?
At the moment you can only do so in person at a branch in Greece.
You need to visit a branch by appointment to open your first account.
Before booking your appointment, you may fill in the contact form for international customers so one of our representatives can contact you to answer any questions and assist you with the supporting documents you’ll need.