Alpha First Home mortgage loan

If you are up to 50 years old, take out a loan to buy your first home with the flexibility of the Alpha First Home mortgage loan. Find out what this mortgage loan designed for young people offers and how you can start moving into your dream home.

Loans
Mortgage loans
Alpha First Home mortgage loan

2.50% fixed interest for 3 years

Get 2.50% fixed interest rate (+ Law 128/75 levy) for 3 years. The interest rate is not affected by the loan amount or the energy class of the property.

Zero application fees

Pay no fees for us to process your loan application.

Alpha Metron Ariston benefits

Secure 9.90% fixed interest rate for a personal loan up to €30,000 and zero loan application fees.

From 5 to 35 years Repay the loan for a first home 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 something unexpected comes up, you may ask to skip 1 instalment per year and share it among the remaining instalments or have your loan term extended.
Up to 90% financing Secure financing for up to 90% of the value of the property you choose. You just need to meet the criteria and conditions.
Floating rate starting at 2.10% after 3 years Choose floating interest rate based on the 3m Euribor + spread + the Law 128/75 levy. The spread ranges from 2.10% to 2.20%, depending on the loan amount.

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.

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): 3.05%, €539.90 monthly instalment, €128,901.18 total repayment amount for a €100,000 loan, with 2.50% fixed interest rate for the first 3 years and then floating interest rate (3.67% Euribor 3M + 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 (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 mortgage loan. Once you collect the necessary 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. As soon as we confirm that 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 the supporting documents for the property to be mortgaged, take out property insurance against fire, earthquake and flood, and sign the disbursement application. 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 for a first-home mortgage loan before your appointment, so that the process is completed as soon as possible.

PLEASE ENTER UNIQUE IDs WITH NO SPACES

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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 present the valid insurance policy.

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

Note:

Alpha Bank SA, in addition to its activity as credit institution, also acts as an insurance intermediary (legal document only in Greek).

You are not required to insure your home with the insurance company partnered with us. You may provide a policy from an insurance company of your choice as long as it meets the coverage requirements specified in your loan agreement.

What else you need to know

There are age restrictions to apply

To apply for an Alpha First Home mortgage loan, you must be:

- 18-50 years old on the day you submit the application.

- Up to 75 years old at loan maturity.

What else you need to know

You cannot own another home

The property you will receive financing for 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.

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 is a guarantor needed

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 conclude the loan process, you pay:

- €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 for the mortgage line registration

What else you need to know

There are expenses for third parties

Apart from the expenses 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).

Take out an Alpha First Home mortgage loan for young people

Book an appointment at a branch near you, to apply for a mortgage loan and buy your first home.

BOOK AN APPOINTMENT

Alpha Residence mortgage loan

Alpha Cash Collateral

Alpha Residence Renovation

“Spiti mou” co-financed mortgage loan

FIND OUT MORE

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.

What documents do I need to apply for loan pre-approval online?

If you are a salaried employee:

Last 2 income tax return forms
Copy of monthly payslip
Pension slip, if applicable
ENFIA (Single Property Tax) certificate if you own property
E9 form marked as “no property” if you don’t own property or relevant solemn declaration

If you are a freelance professional:

Last 2 income tax return forms
Copies of E3 forms for the last 2 years
ENFIA (Single Property Tax) certificate if you own property
E9 form marked as “no property” if you don’t own property or relevant solemn declaration

If I get the loan pre-approval, do I also have to take out the loan?

No. The loan pre-approval is valid for 45 days. You are not bound to take out the loan if you change your mind.

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.

LEARN MORE

Alpha First Home mortgage loan

What it offers

Heading home

View the detailed process and documents

Find out if you can get a mortgage loan

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

What else you need to know

Take out an Alpha First Home mortgage loan for young people

Find other solutions for your home

FAQs

Which loan should I choose depending on my housing needs?

Which interest rate should I choose?

What documents do I need to apply for loan pre-approval online?

If I get the loan pre-approval, do I also have to take out the loan?

What is a low start?