Greece Product Terms
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PIRAEUS BANK UK – STANDARD OVERSEAS MORTGAGE PRODUCT: GREECE| Valid from | 2nd July 2009; Supersedes previous product offerings |
| Currency | Euro |
| Loan security | First charge on residential property / land in Greece |
| Loan purpose | Purchase of residential property (excluding studio flats and/or equity release) or land with residential planning permission |
| Repayment method | Capital & interest
Collected by Direct Debit in Sterling from UK bank accounts |
| Interest rate | One month Euribor plus fixed margin of: | Initial rate | Overall cost for comparison* |
| Property - Capital & interest | See Eligibility below |
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| Land - Capital & interest | |
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| | * APR is calculated on a maximum term, minimum loan amount, non-company mortgage |
| Maximum LTV (lower of purchase price or valuation) | Property | 70% |
| Land | 70% |
| Term | Property - Capital & interest | to 25 years |
| Land - Capital & interest | to 5 years |
| Minimum loan amount | Single or joint applicant(s) | €250,000 |
| Maximum loan amount | No upper limit |
| Application fee | Non-refundable: £125 for individual, joint or company applicants*
* £175 for company applicants where company details are not known at time of application |
| Arrangement fee | 1% of loan amount for individuals; 2% for companies |
| Valuation fee | £125 |
| Legal fees | Applicant is responsible for instructing a Greek solicitor and their fees; and is responsible for the Bank’s legal costs |
| Early repayment charge | 3% in year 1, 2% in year 2, 1% in year 3 |
| Eligibility | PLEASE SPEAK WITH THE BANK FOR ELIGIBILITY ON A CASE BY CASE BASIS |
| Maximum number of joint applicants | 2 individuals - the property purchase and the mortgage application must be in joint names for married buyers |
| Building insurance | Required |
| Life insurance | Recommended, not mandatory |
Your property may be repossessed if you do not keep up repayments on your mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
This mortgage is not a UK regulated mortgage.
PIRAEUS BANK UK – SELF-BUILD OVERSEAS MORTGAGE PRODUCT: GREECE| Valid from | 2nd July 2009; Supersedes previous product offerings |
| Currency | Euro |
| Loan security | First charge on residential property / land in Greece |
| Loan purpose | Construction of single residential property (excluding studio flats) in Greece |
| Repayment method | Capital & interest
Collected by Direct Debit in Sterling from UK bank accounts |
| Interest rate | One month Euribor plus fixed margin of: | Initial rate | Overall cost for comparison* |
| Capital & interest | |
|
|
| | * APR is calculated on a maximum term, minimum loan amount, non-company mortgage |
| Maximum LTV | Of project cost during construction | 70% |
| Upon completion (lower of project cost or valuation) | 70% |
| Term | Capital & interest | to 25 years |
| Minimum loan amount | Single or joint applicant(s) | €250,000 |
| Maximum loan amount | No upper limit |
| Application fee | Non-refundable: £125 for individual, joint or company applicants |
| Arrangement fee | 1% of loan amount for individuals; 2% for companies |
| Valuation fee | Payable by applicant |
| Legal fees | Applicant is responsible for instructing a Greek solicitor and their fees; and is responsible for the Bank’s legal costs |
| Early repayment charge | 3% in year 1, 2% in year 2, 1% in year 3
Charges waived when refinancing with Piraeus Bank UK |
| Eligibility | PLEASE NOTE THAT THIS PRODUCT HAS TEMPORARILY BEEN WITHDRAWN |
| Maximum number of joint applicants | 2 individuals - the property purchase and the mortgage application must be in joint names for married buyers |
| Building insurance | Required |
| Life insurance | Recommended, not mandatory |
Your property may be repossessed if you do not keep up repayments on your mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
This mortgage is not a UK regulated mortgage.
PIRAEUS BANK UK – HIGH-VALUE INVESTMENT OVERSEAS MORTGAGE PRODUCT: GREECE| Valid from | 2nd July 2009; Supersedes previous product offerings |
| Currency | Multi-currency (£, $, €, CHF) |
| Loan security | First charge on residential property / land in Greece |
| Loan purpose | Purchase of residential property (excluding studio flats and/or equity release) or land with residential planning permission |
| Repayment method | Capital & interest Repayment |
| Interest rate | See Eligibility below |
| Maximum LTV | Euro denominated loan - Capital & interest
| 70% |
| Non-Euro denominated loan - Capital & interest | 60% |
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| Term | Property - Capital & interest | to 25 years |
| Land - Capital & interest | to 5 years |
| Minimum loan amount | Single or joint applicant(s) | €500,000 |
| Maximum loan amount | No upper limit |
| Application fee | None |
| Arrangement fee | 0.5% of loan amount for individuals and for companies |
| Valuation fee | Payable by applicant |
| Legal fees | Applicant is responsible for instructing a Greek solicitor and their fees; and is responsible for the Bank’s legal costs |
| Early repayment charge | 3% in year 1, 2% in year 2, 1% in year 3 |
| Eligibility | PLEASE SPEAK WITH THE BANK FOR ELIGIBILTY ON A CASE BY CASE BASIS |
| Maximum number of joint applicants | 2 individuals - the property purchase and the mortgage application must be in joint names for married buyers |
| Building insurance | Required |
| Life insurance | Recommended, not mandatory |
Your property may be repossessed if you do not keep up repayments on your mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
This mortgage is not a UK regulated mortgage.