“Spiti mou” Co-financed Mortgage Loan

Q: What kind of property can I buy?

Size, commercial value and age The property you will buy must: Be up to 150 sq.m. Have a commercial value up to €200,000, as stated in the purchase agreement. Be at least 15 years old, as arising from the building permit. Other restrictions Moreover, you must ensure that the property is: Located within a residential area. In the same Regional Unit as your place or work or professional activity. Free of unauthorised interventions. Accompanied by the necessary permits. Not marked for demolition. Not in the ownership of a 1st or 2nd degree relative or a person you are in a civil partnership with. Read the terms and conditions of the financing scheme (only available in Greek).

With 75% State financing 75% of the amount is financed by the State, up to €112,500. 25% of the amount is financed by us, up to €37,500. Repay the loan in 3-30 years, depending on your finances.
Early repayment at no extra charge You can pay additional instalments or even repay the entire loan amount earlier, at no extra charge.
0% interest rate on 75% for large families Get 0% interest rate on 75% of the loan. You also get 0% interest rate on the remaining 25% of the loan if you have 3 or more children.
Floating interest rate on 25% of the loan Floating interest rate based on the 3m Euribor + 2.20% spread, exempt from the Law 128/75 levy.

The “Spiti mou” loan collateral can be a mortgage lien on the purchased property, at 120% of the loan amount.

To meet personal and other needs, we offer the Alpha Metron Ariston personal loan with zero application fees and 9.90% fixed interest rate (+ Law 128/75 levy).

ANNUAL PERCENTAGE RATE OF CHARGE (APRC): 1.89%, €481.17 monthly instalment, €115,900.06 total repayment amount for a €100,000 loan, with floating interest rate (0.92% ¼ of Euribor 3M + ¼ of 2.20% spread), 20-year term (240 monthly instalments), €0 loan processing fee, €420 lump-sum engineering inspection and due diligence fee, €16.90 monthly home insurance premium.

Get loan pre-approval

Come to the appointment bringing along the necessary documents. We ensure that you meet the criteria and we fill out the application together. If your application receives a pre-approval, you provide the property details. We send your application to the Hellenic Development Bank (HDB) for assessment.

Go through inspection and due diligence

We inform you of the HDB's decision. Provided your application is approved, you have 60 days to bring the necessary documents for the engineering inspection and due diligence. Our lawyer reviews the legal status of the property at the Land Registry or the National Cadastre. Our engineer will verify that the property complies with legal requirements and will determine its value.

Get HDB approval and take out the loan

We ensure that the property meets the conditions and you sign the agreement. We send the loan agreement to the HDB for final approval. Once this is done, we proceed with the mortgage lien on the property. We inform the HDB and we issue the cheque in the name of the seller.

Welcome home

That was all! You now have a home of your own.

Get loan pre-approval

Come to the appointment bringing along the necessary documents. We ensure that you meet the criteria and we fill out the application together. If your application receives a pre-approval, you provide the property details. We send your application to the Hellenic Development Bank (HDB) for assessment.

VIEW THE DOCUMENTS

Go through inspection and due diligence

We inform you of the HDB's decision. Provided your application is approved, you have 60 days to bring the necessary documents for the engineering inspection and due diligence. Our lawyer reviews the legal status of the property at the Land Registry or the National Cadastre. Our engineer will verify that the property complies with legal requirements and will determine its value.

Get HDB approval and take out the loan

We ensure that the property meets the conditions and you sign the agreement. We send the loan agreement to the HDB for final approval. Once this is done, we proceed with the mortgage lien on the property. We inform the HDB and we issue the cheque in the name of the seller.

VIEW THE DOCUMENTS

Welcome home

That was all! You now have a home of your own.

View the detailed process and documents

Get detailed information about each stage of the application and collect the necessary supporting documents before your appointment, so that the process is completed as soon as possible.

What else you need to know

There are age restrictions to apply

To apply for the “Spiti mou” co-financed mortgage loan you must be 25-39 years old on the date when you file the application, and be single, married, in a civil partnership or a single parent.

In the case of a couple, it is enough for 1 of the partners to be 25-39 years old.

What else you need to know

Your annual income must start at €10,000

To apply, your combined annual income, according to the most recent tax return statement, must start from €10,000 and go up to:

- €16,000 for singles.
- €24,000 + €3,000 per child for couples who are married or civil partners.
- €27,000 + €3,000 per child, beyond the first one, for single-parent families.

The total combined annual income is determined according to the limits defined for the payment of the heating allowance, by delegated decision issued in accordance with Article 79(1) of Law 4756/2020 (Government Gazette 235/A/26.11.2020).

What else you need to know

You do not own another property suitable for a home

The property you will receive financing for must be used exclusively as a 1st home. This means that you do not own another property suitable to be used as a home.

If you have more than 1 property, this means that there is another property that can be used as a home.

In addition, for couples, the criteria apply to both spouses / civil partners, irrespective of whether you applied together or individually.

What else you need to know

How the interest rate is calculated

The final interest rate for the entire mortgage loan is:

- (3-month Euribor + 2.20%) / 4.

Example: Let’s say the 3-month Euribor is 2,80% with a 2.20% spread. Your final interest rate will be a 1/4 of that: (2.80% + 2.20%) / 4 = 5.00% / 4 = 1.25%

- 0% if you have 3 or more children.

What else you need to know

There are expenses for Alpha Bank and third parties

- €420 for the property engineering inspection and due diligence
- 0.775% or 0.875% of the mortgage lien amount, to register at the Land Registry or the National Cadastre, respectively
- The lawyer’s fee for getting the mortgage lien at the District Court

What else you need to know

Gift vouchers up to €800 from Kotsovolos

Equip your new home through Kotsovolos. When your mortgage loan is disbursed, you receive gift vouchers valued up to €800 from Kotsovolos. Use them to get a discount on:

- Heat pumps (€300).
- Solar water heaters (€150).
- Kitchen fittings (€250).
- Fridges, washing machines, dishwashers, cookers, air-conditioners and TVs (€100).

Alpha Residence mortgage loan

Alpha First Home

Alpha Cash Collateral

Alpha Residence Renovation

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FAQs

What are the goals of the scheme?

The goals of the “Spiti mou” co-financed government scheme are:

Assisting young people and young couples to become homeowners. The amount they pay towards rent, which is a significant portion of their available income, will be reduced. This will free up financial resources they can make the most of, benefiting themselves and the economy.
Developing and further upgrading the existing inventory of older properties.
Addressing the demographic issue of Greece, by fully subsidising the interest rate for large families with 3+ children.

What kind of property can I buy?

Size, commercial value and age

The property you will buy must:

Be up to 150 sq.m.
Have a commercial value up to €200,000, as stated in the purchase agreement.
Be at least 15 years old, as arising from the building permit.

Other restrictions

Moreover, you must ensure that the property is:

Located within a residential area.
In the same Regional Unit as your place or work or professional activity.
Free of unauthorised interventions.
Accompanied by the necessary permits.
Not marked for demolition.
Not in the ownership of a 1st or 2nd degree relative or a person you are in a civil partnership with.

Read the terms and conditions of the financing scheme (only available in Greek).

When is a property I own considered suitable for a home?

Provided you already own 1 property, it is considered suitable for a home if it meets all the conditions, i.e. it is:

Used as a home.
Located in the same Regional Unit as your place of work or professional activity.
50 sq.m and over (+10 sq.m per family member).
Fully owned by you or you have enjoyment at a percentage over 50%.

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“Spiti mou” co-financed mortgage loan

What you get

Heading home

View the detailed process and documents

Collect the information you need

What else you need to know

What else you need to know

What else you need to know

What else you need to know

What else you need to know

What else you need to know

Find other solutions for your home

FAQs

What are the goals of the scheme?

What kind of property can I buy?

When is a property I own considered suitable for a home?