All commercial banks in Cyprus offer mortgage facilities in local as well as foreign currencies to finance the purchase of your property.

Giovani Developers Limited, taking advantage of its strong relationships with most of the local banks, and in an attempt to reduce finance costs for its customers as well as to speed up the application process, has managed to set up special finance schemes which are on offer for all Giovani Developers’ customers.

General Information

• The loan can be granted in Euros or Foreign Currency (e.g. CHF).  
  
• It is advisable that the loan is in the currency that the applicant receives his income, so that there is no exposure in any exchange risk during the repayment period.
  
• For a loan in Foreign Currency the maximum repayment period can be up to 30 years.
  
• For a loan in Euros the maximum repayment period can be up to 40 years.
  
• The maximum loan amount will be 80% of the value of the purchased property. (Subject to credit position of the client).
  
• The loan is repaid by monthly or quarterly installments.
  

In order to proceed with the client's loan application, the following documents are required:

1. A completed financial information form
2. Proof of repayment ability: for individuals a copy of a recent salary advice and employer contract. For companies we  need audited financial accounted for the last 3 years
3. Proof of contribution paid or to be paid such as Bank debit advices, copies of cheques issued or copies of Bank statements showing the balance of the account available for the purchase of the property
4. Copy of 6 months bank statements showing the monthly salary deposited into the account
5. Verified copy of passport
6. Bank reference from customer’s bankers abroad
7. P60 for the last 2 years.
8. Mortgage statements for the last 6 mont 
   

1. Sales Agreement (original duly stamped and signed)
2. Copy of the title deed and topographical plan of the property to be purchased.
3. A contract person in Cyprus to assist the valuation of the property
4. Approval from the District Officer to register immovable property in Cyprus

Securities for the loan: 

1. First Mortgage on the purchased property or in the case of no separate title, Letter of Guarantee issued by the seller/ developer for the issuance of separate title deeds of the property and Assignment of Rights of the contract of sale.
2. Assignment of term life insurance
3. Personal guarantees (if required)

Please note that other forms of securities are also accepted such as lien on deposit accounts with the Bank of Cyprus Group, unconditional bank guarantees from first class Banks or block of investments with the Private Banking of the Bank.