The financing of a property is an important factor in taking a decision for the purchase of a property. As Quality Group we have managed to agree with local banks favorable terms and conditions and also a standardized mortgage application process to avoid unnecessary paperwork and to obtain approval within four working days provided that mortgage application form and supporting documentation are complete.

Terms and conditions

Loan Amount Coverage: Up to 80% of purchase price

Maximum Duration: Up to 35 years or until the clients 70th birthday

Currency: Major International Currencies

Interest Rate: Basic rate plus +1,75%

Redemption Fees: Nil

Repayments: For off-plan properties, no installments during the build phase subject to a maximum of 24 months. Interest is accrued and added to the loan amount. Next five years can be interest only payments, with normal capital and interest payments thereafter.

Fees:
0,5% of loan amount once off.
1% Land registration fee.

Bank Guarantee Fee: 0,25% of loan amount once off

Stamp Duty on Mortgage Documents

Mortgage amount up to EUR170,860 0,15%

Mortgage amount over EUR170,860 0,20%

Major currencies current base rate (as at 01/02/08).
1. Euro 4.4%
2. Swiss Francs 2.7%
For todays exchange rates visit Bank of Cyprus Exchange Rates

For Swiss Francs exchange commission of 0.4% on the mortgage amount will be paid upon conversion of the mortgage proceeds from Swiss Franks to Euros.

For Euro currency mortgages no exchange commission is charged.