Mortgages in Cyprus for foreign buyers

The short answer

• Loan-to-value: the Central Bank caps loans at 80% of the value for a main residence and 70% for any other property. For non-residents, banks usually lend 50% to 70%.
• Affordability: all loan repayments can take up to 80% of your net income if you earn in euros, 65% if you earn in another currency.
• Cost: registering the mortgage at the Land Registry costs 1% of the loan, plus the bank's own fees. No stamp duty since 2026.
• Rates: variable loans are priced over the ECB rate; the average Cypriot housing loan was about 4% in mid-2026.

Which banks lend to non-residents

The Cypriot market has consolidated: Hellenic Bank merged into Eurobank in September 2025, and Alpha Bank took over AstroBank in October 2025. Policies for non-residents differ by bank and change often:

• Eurobank Cyprus accepts applications from non-residents on terms it sets case by case, and is the most active lender for holiday homes and buy-to-let.
• Bank of Cyprus states that its holiday-home loan is for permanent residents of Cyprus.
• Alpha Bank Cyprus and smaller lenders assess non-residents individually.

Many buyers from abroad also borrow in their home country against property there, or use a Cypriot bank once they have moved and become resident. If you have permanent residence in Cyprus, more products are open to you: see permanent residency by property.

How much you can borrow

Two Central Bank of Cyprus rules set the ceiling, and each bank applies its own policy beneath them.

Value means the lower of the price and the bank's own valuation. In practice non-residents are offered 60% to 70%, and sometimes 50% for a resale without a title deed. Terms run up to 35 years, with the loan repaid by the age of 65 to 75, depending on the bank.

Interest rates in 2026

• The ECB raised its rates in September 2026: the deposit rate is 2.50% and the main refinancing rate 2.65%.
• Bank of Cyprus prices variable housing loans at the ECB rate plus a margin of 2.20% to 2.35%, about 4.85% to 5.00% in October 2026. Fixed periods of 3, 5 or 10 years are offered.
• The average rate on housing loans in Cyprus was 4.04% in June 2026 (Central Bank data).
• Non-residents and borrowers paid in other currencies usually pay a higher margin.

Documents banks ask for

• Passport, a second ID and proof of address.
• Proof of income: payslips and an employer's letter, or company accounts and tax returns if self-employed.
• Bank statements for 6 to 12 months, and the source of the money for your deposit.
• A credit report and tax number from your home country.
• The sale contract and the bank's own valuation of the home.
• Certified translations of anything not in Greek or English.
• Life and property insurance assigned to the bank, arranged before drawdown.

You also need a Cyprus tax identification number and a local bank account; your lawyer can arrange both.

What a mortgage adds to the cost

• Mortgage registration at the Land Registry: 1% of the amount secured. On a €250,000 loan, €2,500.
• Stamp duty on the loan agreement: none for documents signed from 1 January 2026.
• Bank fees: arrangement, valuation and documentation fees, set in each bank's table of charges.
• Insurance: life cover and buildings insurance for the life of the loan.

Enter your loan amount in the calculator to see the registration fee next to VAT or transfer fees. Every other purchase cost is in the cost of buying property in Cyprus.

Mortgages on a home under construction

A mortgage is registered against a title deed, and a new apartment has none until the building's separate titles are issued. Banks lending before that release the money in stages as building progresses, value the home as it stands at each stage, and may allow up to 12 months of capital grace during construction. What security they take before the title exists differs by bank: ask yours, and have your lawyer check it against your deposited contract. See title deeds in Cyprus.

Oniro homes and financing

We can introduce you to banks that lend on Aegea Views, and share the documents a bank's valuer will ask for. The loan decision is the bank's.