Mortgage Loans

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 isright for you.

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. 
  

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.

The option to pay only the interest at the beginning of your loan.

he grace period may last up to:

• 24 months for mortgage loans.

• 12 months for consumer loans with collateral.

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.

Yes. The low start applies after the grace period.

However, the grace period and the low start period may not exceed 4 years and 20% of the total loan term.

Once we sign the mortgage loan agreement, we open an account whose exclusive holders are you and any other person participating as a borrower in the loan. Your monthly interest-bearing loan instalments are paid automatically by standing order through this account.

You should make sure that the account has sufficient balance each month to cover the loan instalment, as well as any premiums, if you have insured your home with one of the plans we offer in cooperation with Generali.

You may make a deposit in this account:

• From your computer through myAlpha Web  or your mobile phone through myAlpha Mobile, by transferring money from another account.
• Through Alpha Bank ATMs.
• Through the Automated Payment Systems (APS) located inside our branches.
• At our branch cashiers, Monday to Friday 08:00-11:00.
  

Alternatively, as of 16.07.2024, you may also pay your mortgage loan installments by cash deposit through the Automated Payment Systems (APS) in our branches. In this case, there is a €1,000 maximum daily limit for each loan account.

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.

For loans with mortgage lien on property

The collateral is released by a deed issued by a lawyer.

To conclude the process, both the lawyer representing you and the lawyer representing Alpha Bank must be present.

For loans with deposits, securities or agreements as collateral

To release the deposit, security or agreement collateral, you’ll have to sign a collateral release agreement. 

Then, the signed agreement is delivered to Alpha Bank by a bailiff.

If you’ve chosen floating rate for your loan and as long as you’re consistent with the loan repayment, you may pay additional instalments or repay the entire loan amount earlier at no extra charge.

If you’ve chosen fixed rate, there might be an extra charge for early repayment. To be sure, check the terms of your agreement or book an appointment with a representative at the branch where you took out the loan.

You can apply for loan pre-approval from your computer through myAlpha Web for:

• Alpha Residence mortgage loan 
• Alpha Residence Renovation 
  
• Alpha Cash Collateral
  

Once you get loan pre-approval, book an appointment at a branch near you.

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 do not own any property
  

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 do not own any property

That depends on the loan and its purpose. For example, if you want to buy a property and you have already found it, it takes approximately 3-4 months.

The time to complete the process depends on many factors beyond our influence, such as signing the purchase agreement or the completing any processes at the Land Registry or the National Cadastre.