Alpha Residence Mortgage Loan

Loans
Mortgage loans
Alpha Residence Mortgage Loan

Up to 90% financing

Get financing up to 90% of the property commercial value and up to 100% of the purchase agreement value for energy class A, A+ properties.

Low start

You may choose to pay a 50% lower monthly instalment than the regular one at the beginning of your loan.

Alpha Metron Ariston benefits

Secure 9.90% fixed interest rate (+ Law 128/75 levy) for a personal loan up to €30,000 and zero loan application fees.

From 5 to 35 years Repay the loan in 5 to 35 years, depending on your finances. If you want, at the beginning of your loan, you may have a grace period of up to 2 years.
Flexible repayment If you want, you may pay additional instalments or even repay the entire loan amount earlier, at no extra charge. You may also skip an instalment, or change the interest type or term of the loan.
Fixed rate starting from 2.80% If you choose fixed interest rate, you can secure a fixed monthly instalment for 1, 3, 5, 10, 15 or 20 years. The fixed interest rate starts from 2.80% (+ the Law 128/75 levy) and depends on the term you choose.
Floating rate with 2%+ spread You can choose floating interest rate based on the 3m Euribor + spread + the Law 128/75 levy. The spread starts from 2.00%, depending on the loan amount and the financing percentage.

To take out an Alpha Residence 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.

If your income changes, you can adjust your loan instalment at any time with the Payment Adjustment Plan.

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): 4.12%, €589.96 monthly instalment, €141,384 total repayment amount for a €100,000 loan, with 3.50% fixed interest rate for the first 5 years and then floating interest rate (3.67% Euribor 3M + 2.20% spread), 20-year term (240 monthly instalments), €430 lump-sum loan processing fee, €420 lump-sum engineering inspection and due diligence fee, €16.90 monthly home insurance premium (including 0.12% Law 128/75 levy).

Get loan pre-approval

Visit a branch by appointment and we inform you about the benefits and conditions of the Alpha Residence mortgage loan. Once you collect the supporting documents for the loan pre-approval, we fill in the application form together. If your application is approved, we send you the loan pre-approval letter.

Find the property and sign the agreement

You have 2 months to find the property. Once you do, bring us the supporting documents to start the engineering inspection and due diligence. If the property meets the conditions for a loan, we check the draft purchase agreement and you sign the final approval letter. In 5 days, you also sign the loan agreement.

Take out the loan and buy the home

Bring us the supporting documents for the property mortgage lien, insure your property against fire, earthquake and flood, and sign the application for disbursement. 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.

Welcome home

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

Get loan pre-approval

VIEW THE DOCUMENTS

Find the property and sign the agreement

Take out the loan and buy the home

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.

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Check if you can get a loan
Calculate your instalment

Fill in the fields below and calculate the monthly instalment for your loan. This way, you can get a clearer overview of your monthly expenses, before you decide to apply.

What else you need to know

You get a discount on the interest rate

You get a discount on the floating or fixed interest rate if you meet all 3 conditions:

The financing is for an energy-saving property.
The energy-saving property is fully constructed.
The property you offer as collateral is an A or A+ energy class property according to the energy efficiency certificate you bring us.

What else you need to know

Insuring your home is mandatory

To conclude the mortgage lien process, you must insure your home against fire, earthquake and flood at an insurance company of your choice and bring us the valid insurance policy.

Alternatively, you may choose the Alpha Home Insurance plan we have designed in cooperation with Generali, and this way ensure the necessary protection for your home.

What else you need to know

There are age restrictions to apply

To apply for a mortgage loan, you must be:

- Over 18 years old.
- Up to 75 years old at loan maturity.

What else you need to know

What is a guarantor

The guarantor is a person who agrees to take on the loan repayment, in case the borrower is unable to. They co-sign the loan agreement and have the same obligations as the borrower.

What else you need to know

When do you need a guarantor

You need a guarantor when:

- Your loan is secured with a mortgage lien on a property owned by other owners. In that case, the other owners have to sign as guarantors to your loan.
- The total amount of your loan instalment and other liabilities exceeds a certain percentage of your income.
- You are expected to be over 75 years old at loan maturity. In that case, you must have a guarantor who will not be over 75 years old at loan maturity.

What else you need to know

There are expenses for Alpha Bank

To complete the loan process, you pay:

- €430 to us to process the application.
- €420 to our associate who will carry out the property due diligence.
- €519.60 to the lawyer who will represent Alpha Bank at the mortgage lien registration.
- €120 to the engineer for each works certification, in case of a loan with multiple disbursements.

What else you need to know

There are expenses for third parties

Besides the expenses for 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).

What else you need to know

The loan amount is calculated based on specific criteria

There are 4 main criteria for us to calculate how much money you can get for a mortgage loan:

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

The loan amount may be up to 90% of the property value and up to 100% of the purchase agreement price for energy class A, A+ properties.

Get an Alpha Residence mortgage loan

Book an appointment online at one of our branches to get detailed information about the Alpha Residence mortgage loan, fill in the loan pre-approval application and get the home of your dreams.

BOOK AN APPOINTMENT

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FAQs

Which loan should I choose depending on my housing needs?

For any housing need: Alpha Residence. This loan will help you buy a house or plot (ripe for development) and also build, finish or repair your home. You can choose a fixed or floating interest rate and request a low start period. Find out if Alpha Residence is right for you.

To renovate your home: Alpha Residence Renovation When you are doing small-scale renovations, you can take out a floating interest rate loan, without the need for a mortgage lien, through very fast financing procedures. Find out if Alpha Residence Renovation is right for you.

Which interest rate should I choose?

The one that best fits your needs. If you wish to:

Ensure a fixed monthly instalment for a specific period, you can choose a fixed interest rate.
Follow the market trends, you can choose a floating interest rate. In this case, the amount of the instalment will increase or decrease every month, depending on the interest rates.

How do I find out if my loan has been approved?

At the branch where you applied.
Via SMS at the number you wrote in your application.
Via email if you have applied online for a consumer loan.

What is a low start?

The option to pay a lower instalment at the beginning of your loan.

With the low start, you may pay up to 50% less than the regular instalment, for up to 24 months.

When the low start period expires, regular instalments are paid.

How much money can I get for a mortgage loan?

The amount you can borrow depend on 4 criteria:

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

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