Financing a Property

Ikodomiki Stavrides & Stavrides works closely with the two largest banks on the island, The Bank of Cyprus and Marfin Laiki Bank, to offer its customers the financial solution that best suits their specific needs.

Our strong financial background allows us to offer our customers bank guarantees with either of the two banks, at no cost. At no extra cost we will also facilitate a meeting with both banks, make the initial introduction, facilitate you with your loan application and help you select the best loan for your needs, from one of the many flexible loans they have to offer.

In general, one should expect the following loan characteristics:

• Finance up to 80% of the value of the property
• Long term repayment period of up to 40 years (max age at time of repayment 70 years)
• No maximum loan amount
• The ability to choose a repayment method based on your income
• Up to two years grace period on the loan repayment
• Ability to pay only 10, 11 or 12 monthly instalments per year
• Clients can choose between:
  - a variable interest rate for the whole duration of the loan or
  - a fixed interest rate for a period of up to 10 years

You should also know that all banks will require a security to authorise a loan:

• Registration of a first legal mortgage over the property to be purchased or
• Assignment of the sale contract and a Bank Guarantee from the Sellers' bankers
• Assignment of borrower's life insurance policy
• Assignment of fire / earthquake policy insurance over the immovable property.
• Personal guarantees

Interest rates vary by the assessed risk the bank undertakes when issuing a loan, e.g.:
• The amount of the down payment
• The type of securities offered
• The currency of the loan

For more information please visit:

The Bank of Cyprus website or call 800.00.800 (00357 2212 8000 if calling from abroad)

The Marfin Laiki Bank website or call 8000.2000 (00357 22887766 if calling from abroad)


We will assist you in selecting the best financing solution for your needs