Mortgages for Greek Property
Our Mortgage Service - helping you make the right decision
"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support.
As your mortgage is such an important transaction, good advice is imperative.
"We know that the internet is the first port of call for many people when looking for mortgage solutions; our view is, yes use the internet to do your own research , but then bring it to us and we’ll let you know how your findings compare and then give you the information and advice you need - so that you can make the right decision for your future.” Adam Arnott, Head of Mortgages & Protection
Compare Mortgages for Greek Property
Owning a home abroad in Greece is a dream for many people and with the right mortgage, you could achieve that.
Benefits of a Greek property mortgage
If you are moving permanently to Greece and will be receiving your income in Euros, a Greek mortgage might be a good choice. This is because having your income and your mortgage payments in the same currency prevents you being affected by movements in the rate of exchange.
If you are buying a second home in Greece, getting a Greek mortgage means that your repayments on the property won’t be tied to your UK property, as they would be if, for example, you has remortgaged your UK property in order to buy the Greek property. Keeping these elements separate may be the right choice for your circumstances, so that if you have repayment difficulties it is only your second home that is at risk.
Drawbacks of a Greek Property Mortgage
Although on the face of things the process of getting a mortgage in Greece looks similar to the mortgage process in the UK, the reality can often prove different to what you might be used to in Britain. This is because the legal and administration processes in Greece are known for sometimes being little slower and more bureaucratic than in many other European countries. If you want to buy a Greek property off-plan, or you want to build your own home in Greece, you could also face difficulties. This is due to the fact that most Greek mortgage lenders will only allow you to access your mortgage funds once a property has been completed. In the UK you can often access money as the property building process progresses, but this is not usually the case with Greek property. This means that you will usually have to find another way to finance your building project.
If you are unsure about what mortgage product is suitable for you to speak to one of our mortgage advisers click here »