Mortgages are available through all the major Banks at fixed and variable rates in different currencies, most notably in Euros or Swiss Francs.

In 2008 the Swiss Franc mortgages were consistently available around 1.25% above LIBOR.

The Euro rate fluctuated more with an average of 5.5%, with a fixed interest rate over2, 3, 5 and 10 years with a variable rate over the balancing years.

In early 2008, the credit crunch around the world had an effect in Cyprus, and the Cyprus Central Bank put pressure on the lending Banks to increase the amount of clients' own funds put into property purchases.
Consequently the normal maximum loan is now 60% of purchase price as opposed to the previous 70% or 80% depending on the individuals' financial circumstances.

Mortgages can be over a period of 15 years or to the age of 70 on maturity.

Best of Cyprus has good relationships with the international sectors of all the major banks in Cyprus, and we will introduce you on a one to one basis.

Your chosen Bank will then deal with applications in the same manner as in UK Ireland and other European countries.

Decisions are normally made within a sensible timetable, and are based on individual financial status and credit rating.

The normal supporting documentary evidence of earnings over the last three months, Bank statements, utility bills, passport or other official identification documents etc. will apply.