Which housing purposes do our schemes cover?
Our housing schemes are for the purchase of a house, apartment or even land for the purpose of constructing a primary residence or holiday home.
What amount can you borrow for housing purposes?
Acquiring a housing loan requires payment of a contribution by the buyer. The maximum amount we can lend today is 80% or 70% of the value of the property (for primary residence or holiday home respectively). It is typically funded by means of a long-term loan, as per the various housing schemes offered by the Bank.We always discuss the ability of each client to repay their loan in order to offer solutions that meet everyone’s financial abilities.
What if I do not proceed with concluding a loan that is approved by the Bank?
You will be charged 0,5% on the requested financing amount, with a maximum charge of €1.000, as cancellation costs for the approved loan.
What if make gradual withdrawals from my loan?
In these cases, you will be charged €20 each time you withdraw funds from your loan. If you withdraw your entire loan directly, then there will be no charges.
What happens in cases of early repayment/early payment of loan installments?
When a loan that is in a fixed interest rate period is fully repaid early, or when installments are paid early in respect to the agreed repayment schedule, then it is probable that you will be charged with early repayment and/or administrative expenses. Loans that are in a variable rate period are not charged with early repayment (repayment) but may incur administrative expenses related to early repayment.
What happens in case of delayed installment payments?
If your loan is not repaid normally, you will incur additional costs. Costs relate to an additional charge on the interest rate for the unpaid amount, plus a fixed amount per month.
Can I postpone an installment?
You have the right to postpone payment of two installments each year (up to 24 installments for the entire duration of your loan) and not be charged with delay fees. Inform your banker ahead of time in order to make use of this right.
When should I pay my installment?
Your installment should normally be paid on the date provided for by the loan terms. To avoid unnecessary delay fees, you should talk to your banker and set the payment date for your installment from the beginning. If this date changes in the future, you should inform your personal banker. For your convenience, it is a good idea to give written instructions to the Bank so that your installment can be paid automatically by transfer from your current account.
What if my circumstances change and there is difficulty in paying the installments as planned?
If your financial conditions change and you cannot meet your obligations or make regular installment payments, please notify your banker on time. You can discuss with them to set up a new payment schedule that is appropriate for the new circumstances.