Housing Loans

First Residence Loan

Whether you’re getting ready to take your first steps on the property ladder, or you’re just looking to fix up some wear and tear on your existing home, the Ancoria Bank First Home Loan brings you that much closer to making your dream a reality. You can build, buy or renovate your house, buy land, or repay an existing mortgage from another bank.

LOAN AMOUNT

Up to €300,000

Up to 80% of the estimated value of the property

INTEREST RATE

2.10%

Interest rates vary according to the customer’s own contribution. View interest rates

APR

2.20%

APR is calculated based on the representative example shown below

LOAN TERM

5 – 35 years

Debtor’s age must not exceed 65 years at loan maturity

Interest rate subsidy scheme for new Housing Loans:

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Ancoria Bank is a proud participant in the Interest Rate Subsidy Scheme for New Housing Loans. First time homeowners can apply for a mortgage loan with an interest rate subsidy of up to 1.50%, as per the Terms of the Scheme. Read more about the Scheme as announced by the Ministry of Finance here (in Greek)

Flexibility options:

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For houses under construction up to two years grace period on capital (this means you only need to pay the interest during this period) from the start of the loan

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You have the ability to suspend up to two monthly instalments per year, as long as the Bank is informed at least one month prior the date of the instalment, with a maximum of 24 instalments during the duration of your loan period

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Choose between an immediate or gradual disbursement of the amount financed, depending on the progress of works

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You can choose to repay your loan earlier than your agreed repayment schedule, partially or fully*

*In case of early loan repayments, there is the possibility of a prepayment fee. See the relevant formula in our Commissions and Charges table

What securities or other requirements are requested for a Housing Loan?

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First mortgage over the financed property
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Life insurance policy on the borrower
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Fire and earthquake insurance over the mortgaged property
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Any other security or guarantee as required by the Bank
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Borrowers’ salary to be deposited automatically to Ancoria Bank
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Borrowers should fulfill all the internal credit risk criteria of the Bank

Additional information:

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Initial charges:

  • There are no initial charges on primary housing loans. If you need more information about our charges you can view the Commissions and Charges table
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You can view all rates here

Representative example:

At Ancoria Bank, we want to make sure you have all the information you need at all times. We’ve provided a representative example, that you can use as a guide.

CONTRIBUTION

>35%

LOAN AMOUNT

€100,000

INTEREST RATE

2.10%

APR**

2.20%

LOAN TERM

35 YEARS

INITIAL CHARGES

€0

MONTHLY INSTALMENT

€336

TOTAL AMOUNT PAYABLE

€141,326

APR CALCULATION

**APR (Annual Percentage Rate) has been calculated on 01/12/2021 and is based on the following:

  • Interest Rate: BBRH as at 11/10/2021 was 1.59% + margin 0.51%
  • Loan amount of €100,000
  • Loan term of 35 years
  • No Bank initial charges
  • Other initial charges: €1,166 (including stamp duty fees/ mortgage fees)
  • Security on Loan: Mortgage on property with market value €154,000 and mortgaged value €100,000
  • Assignment of Life Insurance, Artemis report, valuation fees for property mortgaged and Fire Insurance of mortgaged property have not been taken into consideration for this calculation

Disclaimer: Ancoria Bank Ltd reserves the right to decline an application/business relationship for legal, regulatory or any other reason and withdraw any plan, at any time. In certain cases, the offer which Ancoria Bank Ltd may make, may differ, following an assessment of your personal financial and other circumstances.
Warning: If you fail to meet your loan repayment plan secured by mortgage, your home/property may be repossessed.
Warning: There are charges for early loan repayment (Find out more at the links: Commissions and charges & Prepayment penalty for fixed rate loans).
Warning: In case of variable interest rates, the instalment amount and total cost of the facility may increase or decrease depending on variations in the base rate.

Are you

thinking about

a loan?

With our Loan Calculator, you can get an instant look at:

  • What your indicative monthly instalment will be
  • Whether you may be eligible for the loan you want

You can then easily request a video or phone call with us to talk more about it. No strings attached.

If you have any questions, or simply need some help to get started

Call us on 8000 0050 or +357 22849000