Do I qualify for a Cypriot mortgage?
To qualify for a mortgage in Cyprus, a calculation is used to establish whether you can afford to maintain the mortgage repayments. This will automatically happen when you complete the application form, and Conti won’t charge you for this service.
How much can I borrow?
Calculation based on the valuation or purchase price, whichever is the lower
From 70% LTV available for house purchase, remortgage, home improvements or construction. 80% LTV only available for applicants either permanently residing in Southern Cyprus, or living there for at least 180 days per year.
Based on joint monthly gross pay, where joint income is applicable
Existing liabilities, e.g. mortgage or rental payments, loans, credit card payments and maintenance are taken into account, together with the proposed Cypriot mortgage payments. All this must not exceed 35% of your monthly gross monthly income, dependant on the final lending scheme
What evidence of income do I need?
If you are employed:
Your original last three month’s payslips
Your latest original P60 or Employers Reference
Your original last six month’s personal bank statements
If you are self-employed:
Your last 2 - 3 year’s audited accounts or possibly by accountant’s letter and personal tax returns
Your original last 6 month’s business statements
Your original last six month’s personal bank statements.
Example mortgage payments
If, for example, your gross joint monthly income is £2,500, 35% of this equates to £875. If your only liability is your mortgage payment, of say £300, this would leave a balance of £575 for your Cypriot mortgage repayment
What types of Cypriot mortgages are available?
For our latest rates and to see the different types of Cypriot mortgages on offer, please see below.
Currently covers Southern Cyprus only
Loans available from 70% of the property’s value or purchase price, whichever is lower.
The maximum term of any mortgage is 40 years, this varies on the type of loan.
Mortgages are only available on a repayment basis.
The minimum loan you can take out is €100,000
Max term 40 years
£ 100,000 minimum loan
Repayment Only mortgages
