Design Home Sales are pleased to be able to advise their clients about a unique mortgage scheme available for buying property at the Aphrodite Hills resort in Cyprus. With just 25% down payment, there is a built in ‘grace’ period for both capital and interest payments up to the delivery of your new property of up to 2 years. Other features are:-
- Interest rate is based upon 6 months Euribor plus bank’s margin
No penalty for early repayment
Low arrangement fees 0.55% of loan amount
The duration of the loan can be up to 40 years.
Conditions apply in that the scheme applies to loans in Euros. The grace period for both capital and interest is valid for up to 2 years or upon delivery of the property, which ever comes first. Loans can be offered in other currencies, however different terms apply. This unique scheme is intended for clients buying a single unit.
This unique offer comes in the light of recent relaxation of transfer taxes on new property in Cyprus. Until now, Cyprus law always stated that for every sale of a property on the transfer of the Title Deed, fees of up to 8% must be paid by the Purchaser during the transfer procedure. However, we are delighted to inform you that the Government of Cyprus has announced the
abolition of transfer fees for any new property purchases within the next 6 months and irrespective of the time the title deed of the property will be transferred to the buyer. Coupled with up to 30% discount on new property purchases, buying property in Cyprus presents a very serious investment opportunity.