Financing
Lanitis Development offers a new attractive Financing Scheme to Aphrodite Hills property purchasers in association with a number of local banks. Loans can be in Euros or Swiss Francs.
Key features of the Scheme:
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Pre-approved loan, subject to the bank being satisfied of the Client’s repayment ability.
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Contribution by Client should be a minimum of 25%.
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Interest rate is based on Euribor for six months plus Bank’s margin.
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For off-plan properties a grace period for both capital and interest can be given of up to 24 months or until delivery of the property - whichever comes first. In this case, interest during the grace period is capitalized on future payments.
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The duration of the loan can be up to 40 years or 70 years of age, whichever comes first.
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Term Life Assurance – Life Assurance is not necessary most of the time but if it is asked, then most of the existing overseas Life Assurance Policies may be accepted.
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Arrangement Fees: 0.55% of the loan amount.
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No early repayment penalty is imposed on any outstanding balance.
The above Scheme applies for loans in Euros only. Loans can be offered in other currencies, however different terms apply. . More information can be provided upon request. The Scheme is intended for Clients buying a single unit in their names. If the intention is to buy more than one unit or under a company name, then these terms may not apply.
Please note that Lanitis Development has the right at any time and at its discretion to withdraw this mortgage offer or change the terms and conditions.
A short summary of how to buy a Cyprus property can be found on our How to Buy a Property Overview page.