What House Loan is
The Cooperative Bank of Chania offers house loans for first or secondary residence, for main or secondary house repair/renovations or for buying a building site.
Main features
Loan is offered for:
- Purchase of a finished residence or apartment
- Construction of a residence
- Renovation, expansion or improvement of a building
- Purchase of a building site
- Loans that combine the above with adaptations to the borrower’s needs
Collateral: The financed real estate is the primary collateral for your house loan. Please note that the real estate you get the loan for, must be insured against fire, earthquake at a low premium
Disbursement:In case of house purchase, the loan is disbursed after the contract is signed the collateral is pledged. In cases of construction, expansion, renovation etc., disbursement is paid in installments as the project proceeds.
Floating interest rate, according to standard rates for consumer loans, plus inflation rates, determined in accordance to the borrower’s credit rating and submitted guarantees.
Option to repay early the loan at no extra cost.
Duration between 3 and 30 years, according to the borrower’s financial situation and possibility for a grace period
Loan amount:Usually up to 75% of the property’s objective value. In case of expansion or renovation of pre-owned residence, financing may reach 100% of the project budget.
Collateral: The financed real estate is the primary collateral for your house loan. Please note that the real estate you get the loan for, must be insured against fire, earthquake etc. at a low premium
Disbursement:In case of house purchase, the loan is disbursed after the contract is signed the collateral is pledged. In cases of construction, expansion, renovation etc., disbursement is paid in installments as the project proceeds.
Floating interest rate, according to standard rates for consumer loans, plus inflation rates, determined in accordance to the borrower’s credit rating and submitted guarantees.
Option to repay early the loan at no extra cost.
Required Documents
In order to make a loan request at the Cooperative Bank of Chania, you will need the following documents:
ID or Passport
Recent income tax statement
A bill from a Public Utility Organization or any other document certifying your address
A current phone bill confirming your phone number.
Where applicable, you may be asked to provide further and/or different documents. Please visit or contact any Βranch of the Cooperative Bank of Chania.
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