Alpha First Home mortgage loan

Fixed or floating interest rate 

Choose:

• Fixed rate for 3 years. After this time, a floating rate applies.
• Floating rate for the entire loan term.
  

2.50% fixed interest rate for 3 years

You may choose 2.50% fixed interest rate for the first 3 years, irrespective of the financing percentage and the energy class of the property.

Floating rate with 2.00%+ spread 

The floating rate is based on the Euribor 3Μ + 2.00% to 2.20% spread, depending on the loan amount.

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 Alpha First Home mortgage loan the levy currently stands at 0.12%.

APRC example

For a €100,000 loan with 2.50% fixed interest rate for the first 3 years and then floating interest rate (2.50% Euribor 3M + 2.20% spread), 20-year term (240 monthly instalments), €0 lump-sum loan processing fee, €420 lump-sum engineering inspection and due diligence fee, €16.90 monthly home insurance premium, the Annual Percentage Rate of Charge (APRC) is 4.59% (including 0.12% Law 128/75 levy), the monthly instalment is €539.90 and the total repayment amount is €148,794.95.

Have a look at the deposit and loan interest rates.

From €15,000

The loan amount starts at €15,000 and depends on:

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

Up to 90% financing

Secure financing for up to 90% of the value of the property you choose.

The property must be used exclusively as a first home. This means that you:

• Do not already own another property suitable to be used as a home. 
• Have not bought another home in the past.
  

From 5 to 35 years

Repay the loan in 5 to 35 years, depending on your finances. 

With mortgage lien

To get an Alpha First Home mortgage loan, you must offer some form of collateral, i.e. mortgage lien on a property. That may be either the home 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.
• €519.60 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:

• 0.775% or 0.875% (+VAT) on the mortgage lien amount, to register the mortgage lien at the Land Registry or the National Cadastre, respectively.
• €50-80 (+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

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 choose the Alpha Home Insurance plan we offer in partnership with Generali.

Optional borrower insurance

You can get the Alpha Borrowers mortgage loan insurance plan. This way, if something unexpected comes up, your outstanding loan balance and accrued interest will be paid on time.

Grace period

If you want, at the beginning of your loan, you may have a grace period up to 2 years. During this period, you only pay the interest on your loan.

With interest-bearing monthly instalments

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 have chosen a fixed or floating rate.

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