About Us
Press and Case Studies
Press
Read some of our recent press at the links below
Case studies
A Greek Property Delight! Happy Greek Ending
Miss B approached the bank last year to help finance her self build property on the beautiful Greek island of Meganisi. Building your own property can be challenging at the best of times and even more so when this is in a foreign country. We discussed with Miss B the financing options available in order that her loan was structured in the best way to suit her needs. Miss B had the advantage that her parents already live in Meganisi and had undertaken a similar self build project themselves, so she was able to get personal recommendations for good builders and architects etc. The property was successfully completed in early 2007 with the final value being much greater than anticipated. The project was such a success that Miss B is now investigating purchasing another plot in Greece for a similar self build project.
A Bulgarian Love Affair
Back in 2005 and at the start of the Bulgarian real estate boom, Mr W, a Banker
by profession, was recommended to us by one of Bulgaria's leading real estate
companies. He was looking for a mortgage to assist with the purchase of an apartment
in the Bulgarian costal resort of Bourgas. Piraeus Bank UK quickly and efficiently
approved the loan and helped him through the process. This process unfortunately
did not run as smoothly as it possibly could have due to some problems that
Mr W had with his Bulgarian solicitor. After some frustration, Mr W appointed
an alternative solicitor known to the Bank and the loan was subsequently drawn
down. Mr W has gone from strength to strength since purchasing his first investment
property in Bulgaria and recently approached us in connection with both development
finance out of our bank in Bulgaria and for the provision of mortgages for the
buyers of a small residential development he is now constructing in Bulgaria.
UK Pot of Gold
Mr C is from a shipping background and bought his first investment property
in London in the mid 1970's. Since then he has continued to invest in real estate
and with great success. His business model is to invest in Central London properties,
refurbishing them to a very high specification. Mr C was referred to us by a
colleague in our Greek branch network and from the outset of our relationship
he stressed that the customer's requirements included first class service with
particular focus on flexibility and speed of response. Our Personal Banking
team have managed to exceed his expectations and have subsequently worked with
Mr C on a number of successful London projects.
UK Happy Ending
Mr D was introduced to us from our Yacht and Sail Finance division in Athens. He
is a high net worth individual with a background in the film industry. Mr D
identified an investment property in one of the most prestigious central London
locations. We worked closely with Mr D to ensure that the loan be drawn–down
in what was a very challenging time scale. Unfortunately, all was not as it
seemed and on closer examination, what originally seemed like a bargain was
far from it. A number of issues were identified that would have a severe impact
on the future marketability of this property and after much discussions with
the bank, Mr D decided not to proceed. He was disappointed that the sale had
fallen through but thanked us for our timely communications and the fact that
he has been protected from purchasing a property that would have been difficult
if not impossible to sell. Since then Piraeus Bank Real Estate Finance Division
has worked with him to agree finance for a development of a multi million Euro
luxury boutique hotel on a picturesque Greek island.