Attractive Mortgage Schemes starting to reappear in Cyprus
Posted in Financing by Ash on February 24th, 2009 04:54pm
We have been all too aware of the dearth of sensible mortgage schemes available for buyers of Cyprus Property in recent months. The schemes on offer in recent months have seen interest rates around 8% with no sight of a payment holiday for off plan purchases and Loan to Values being limited to no more than 70%.
There have been many false dawns but we note with interest a scheme that has just been announced by the Bank of Cyprus. It offers an 80% Loan to Value and provides a two year payment holiday for off-plan purchases. The interest rate is also capped at 5% for the first three years. Now this scheme is only available for Cypriot residents but I would take this as a sign that things are slowly returning to normal and we would expect similar schemes to be rolled out to non residents in the coming months as more banks reenter the market.
1 Comment
1. ThittyKah&hellip | April 12th, 2010 at 9:22 am
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