BACK
How to take out an Alpha Cash Collateral home loan
How to get loan pre-approval online
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 Alpha Cash Collateral home 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 myAlpha Web. They will be notified by email, text message and a pop-up once they log into myAlpha Web.
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 application is valid for 45 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
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 mortgages and home loans that meet your needs and check whether the Alpha Cash Collateral home 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 45 days. During this time, you need to find a property. The loan pre-approval is not binding if you change your mind.
What you need to take out the loan
Getting final approval
For buying a home
Once you get loan pre-approval, you need to find a property within 45 days. We check the draft purchase agreement and, provided it meets the loan conditions, you bring the final agreement.
You sign the final approval.
For carrying out works on a home you already own
For building, completing, extending, making additions or carrying out repairs on a home you already own, we give you the project budget draft to be filled out by your engineer.
Once you bring us the completed project budget draft, it is approved by ARES (Alpha Real Estate Services SA) or the associate engineers. You sign the final approval.
Signing the loan and collateral agreement
We inform you over the phone or by text message so you can come to the branch to sign the loan and the collateral agreement.
We then conclude the collateral process.
Receiving the money
For buying
If you are buying a built property, the money is paid out in a lump sum.
We issue a crossed cheque to the amount of the agreement, payable to the seller.
For building or repairing
The loan amount is paid out in instalments in the event of:
- Building a home
- Completing a home
- Buying a home under construction
- Carrying out certified repairs
The money is paid out based on the progress of the works, following reassessment and certification by ARES (Alpha Real Estate Services SA).
Alpha Bank fees
To conclude the loan process, you pay:
- €350 for us to review your application.
- €120 for each works certification by an engineer, in case of a loan with multiple disbursements.
- €49.60 per proof of service to the bailiff for serving the cash collateral agreements where necessary.
No e-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.
Start banking with us
Online, without visiting a branch
Open your first account with Alpha Bank and get e-Banking credentials online.
Visit a branch
By appointment
Book your appointment at a branch on the day and time you prefer and bring along the supporting documents.
Any questions?
Find the answers you need about the Alpha Cash Collateral home loan.
Are there any requirements to apply for a mortgage loan?
To apply for a mortgage loan, you must have:
- Sufficient income for the amount you want to get.
- Low existing borrowing.
- Satisfactory credit rating with existing products.
You also have to be:
- Over 18 years old.
- Up to 75 years old at loan maturity.
How can I pay my loan instalment?
- Automatically with a standing order from your account.
- Online through myAlpha Web or myAlpha Mobile.
- Through myAlpha Phone on +302103260000.
- At any Alpha Bank branch.
- At the Automated Payment Systems (APS) in cash only, using any active Alpha Bank card for authentication purposes.
- At an ATM with your Alpha Bank card, only for personal loans.
How do I make an early partial or full repayment of my mortgage loan?
You may pay additional instalments or even repay the entire loan amount earlier at a branch cashier (Monday to Friday 08:00-11:00) by making a deposit directly into your loan account. Just make sure you have sufficient balance in your account.
The early repayment process is common for mortgage loans with or without collateral. However, there are some differences in the collateral release process depending on the form of the collateral.