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Financing

Karma Developers cooperates with all the major Banking Institutions in Cyprus. Mortgage loan facilities are available to all nationalities subject to fulfilling specific criteria.

An estimated finance facility can be seen below:

Description Loan Proposal for Non EU Residents
for a purchase of a holiday home
Loan Proposal for Locals for a purchase
of a holiday home
Loan Proposal for locals for a purchase
of a home for permanent residency
Maximum Loan Amount 84,000 euros for an apartment
280,000 euros for a villa
84,000 euros for an apartment
280,000 euros for a villa
96,000 euros for an apartment
320,000 euros for a villa
Loan Duration Minimum Loan Duration 10 years
Maximum Loan Duration 20 years or
until the age of 65 years old of the applicant
Minimum Loan Duration 10 years
Maximum Loan Duration 20 years or
until the age of 65 years old of the applicant
Minimum Loan Duration 10 years
Maximum Loan Duration 30 years or
until the age of 65 years old of the applicant
Early Repayment In case of early settlement of the loan
and if the interest rate is fluctuating,
there will not be any charges for early settlement
In case of early settlement of the loan
and if the interest rate is fluctuating,
there will not be any charges for early settlement
In case of early settlement of the loan
and if the interest rate is fluctuating,
there will not be any charges for early settlement
Expenses Documentation Fees,
Mortgage loan stamp fees,
Mortgage fees
Housing Insurance
Loan Insurance
Documentation Fees,
Mortgage loan stamp fees,
Mortgage fees
Housing Insurance
Loan Insurance
No fees for documentation
Housing Insurance
Loan Insurance
Interest Rates* 2.21% + 2.25% = 4.46% 2.21%+1.25% = 3.46% 2.21%+0.75%=2.96%

*(Interest rate varies and the applicable rate is available always on the day of the official application to the Banking Institution)

Conditions governing the drawdown

The amount of the loan will be at your disposal provided that your loan application is approved and that all the necessary documents are signed and that all conditions are met in accordance with the Bank’s decision.