Alpha mortgage loan for foreigners

Starting at 2.90% for fixed interest rate

If you choose fixed interest rate, you can secure a fixed monthly instalment for 3, 5, 10, 15 or 20 years. This rate does not fluctuate over the agreed term.

The fixed interest rate starts at 2.90% and depends on the term you choose. The Law 128/75 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 128/75 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 128/75 levy

All mortgage loans are subject to the Greek Law 128/75 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 €100,000 loan with mortgage lien, 2.90% fixed interest rate for the first 3 years and then floating interest rate (2.70% Euribor 3M + 2.20% spread), 0.12% Law 128/1975 levy, 20-year term (240 monthly instalments), €430 loan processing fee, €420 lump-sum engineering inspection and due diligence fee, €16.90 monthly home insurance premium, the APRC is 4.85%, the monthly instalment is €560 and the total repayment amount is €151,645.78.

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.

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.

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.