Alpha Residence

Cover your housing needs and choose the best option for your loan repayment.

Grace period of up to two years
Installments starting from 295€/month
Loan amount covering up to 80% of the property's purchase value for first main residence

Buy or remodel your dream house with advantageous terms

Alpha Residence is a housing loan offered to permanent residents of Cyprus for the purchase, building, completion or refurbishment of a house or an apartment, the purchase of land for construction purposes or the transfer of existing housing loans from other financial institutions.

Floating interest rate in Euro
Loan amount covering up to 80% of the property's purchase value for first main residence and up to 70% of the property’s purchase value for the second
Repayment through equal monthly installments with maximum duration of up to 40 years, including grace period. At loan maturity the debtor’s age must not exceed 70 years
Grace period of up to two years
Discount for Domestic Fireand Related Risks Insurance during the first year by Altius Insurance

Registration of a first legal mortgage over the financed property
Discount on Domestic Fireand Related Risks Insurance policy for the first year with Altius Insurance
Assignment of borrower’s life insurance policy
Any other guarantees that may be required by the Bank

Interest rate: 1,85% (Fluctuating, Housing Loan Base Rate = 2,00% - margin 0,15%), €1745,75 Arrangement and Documentation Fees, Stamp Duty Expenses, Expenses for conducting an appraisal of the immovable property, Land Registry expenses.
Amount of grant: €100.000
Annual Percentage Rate of Charge (APRC): 1,96% (calculated on 25/01/2019)
Duration of grant: 40 years (480 months)
Total payable amount: €141.410,23, Monthly installment amount: €294,60 (480 monthly installments)
Other charges included in the Annual Percentage Rate of Charge (APRC): initial bank charges, stamp duties on loan/ mortgage documents, mortgage and valuation charges
Other expected costs for the borrower not included in the Annual Percentage Rate of Charge (APRC): the cost of life insurance for the borrower and the cost of fire / earthquake insurance for the mortgaged property
The granting of the loan is subject to the provision of satisfactory tangible collateral

If you fail to pay your installments on a regular basis, you run the risk of losing your home.
There are charges for early loan repayment.
The consumer has the right to withdraw from the loan agreement within 5 working days from the signing thereof, provided no amount under the agreement has been disbursed.
The amount of the installment and the total cost of the facility may increase or decrease depending on base rate fluctuations.

Lending Rates and Charges

Information regarding interest rates, any other charges and the Annual Percentage Rate (A.P.R.), using a representative example.

Alpha Residence

Buy or remodel your dream house with advantageous terms

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