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Mortgage Finance

Most commercial banks in Cyprus are authorized to offer mortgage facilities to local as well as foreign applicants to assist in the purchase of their property.

AJAMI Group, taking advantage of its strong relationships with most of the local banks, and in an attempt to reduce finance costs for its customers as well as to speed up the application process, has managed to set up special finance schemes which are on offer for all Ajami Group Developers customers.


General Information

- The mortgage can be granted in Foreign Currency (e.g. USD, EUR, GBP, CHF Etc) or in Euros.

- You may pay lower monthly instalments for a longer period of time, up to 40 years.

- The age of the applicant plus the term of the mortgage cannot exceed the age of 70.

- The maximum amount borrowed can be up to 70% of the value of the purchased property. In exceptional casesand especially for first time buyers the amount can be up to 80% of the value of the purchased property (depending on the credit rating of the customer).

- The mortgage is repaid by monthly or quarterly instalments.

- That you have the option not to pay any instalment or pay low instalments for the first 2 years (Grace period to the Capital and/or accrued interest),this is subject to construction stage and delivery date of the property.

- You can be given the option to design your monthly instalments according to your financial capabilities.

- You have the option to suspend your monthly instalment twice a year, up to 24 times during the loans' duration.

- You are given the freedom to choose whether the loan will be with flexible interest rate or with a fixed interest rate for 2, 3, 5 or 10 years.

- Loan Rate Options and Cost: This is based to the choice of mortgage scheme the clients proceeds with.



For the majority of its projects AJAMI Group has managed to set up finance schemes with local banks with the following security requirements having as a result substantially lower costs for its clients:

- Assignment of the Purchaser’s rights deriving from the Contract of Sale in favour of the Bank.

- Documents/Information required by the banks:

- Customer’s profile (Personal details, occupation-duration of your employment contract if any with your current employers).

- Passport copies (the page with the photograph & personal information).

- Statement of existing debt (if any).

- A reference Letter from the present Bank you maintain an account with.

- Completion of the Declaration of Personal Income form.

- Evidence of income either pay slip or confirmation of remuneration from your employer, or business accounts.

- Purchase agreement of the property.

- Copies of bank statements for the last three months.

- Proof of payments already made by the applicant towards the property purchasing.

- To open and activate an account with the bank



Disclaimer: While every effort has been made to provide true and accurate information, this is only meant for guidance purposes and any information contained in this presentation, while correct at publication, should always be checked by the relevant party or authority and errors and omissions are expected and accepted.