Cyprus Mortgages

If you are considering purchasing a property in Cyprus, mortgages are available from a number of sources. Depending on what type of Cyprus mortgages you are interested in getting, you should aim to arrange at least three quotes to see who is typically offering the best rate. However, as Cyprus is now a member of the European Union, you may be quoted offers in Euros which avoids capital loss through currency exchange should you rent out your property, provided you keep to the local currency, so make sure you read all paperwork before agreeing to anything.
Cyprus mortgages include:

Repayment and Interest only mortgages
Current variable interest rate mortgages

Most commercial banks in Cyprus are authorised to offer mortgage facilities to locals as well as foreign nationals but usually any loans given are based on the purchaser providing at least 30% deposit.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.