Property boost for cyprus investors

Photo: International Property Directory

The scheme provides for a loan of up to €200,000 at an interest rate of 4.75% with a repayment period of 10 to 40 years, reports Cyprus Property Buyers. 

It offers the right to suspend instalments of a maximum of two monthly instalments a year and 24 suspended instalments in total over the duration of the loan and a grace period of up to 24 months on capital – or up to 24 months on capital and interest if the house is under construction.

There is also a reward for consistent repayment with a lower monthly instalment every 13 months, provided that all 12 previous instalments had been paid on the due date.

The Bank is also offering a discount of 0.25% on the interest rate is the residence is purchased from a developer who is client of the bank and the construction has been financed by the bank.