At a branch or through v-Banking
Apply for a mortgage loan at one of our branches or through v-Banking, wherever you are, provided you are a Eurobank client and have e-Banking credentials.
You may submit an application even if you have not found a property that interests you yet.
Find out the supporting documents to submit a loan application.
When you need a proxy
If you are not a Greek citizen or you are a Greek citizen but cannot stay in Greece until the mortgage loan process is completed, you need a lawyer to act as your proxy.
The lawyer acting as your proxy should be:
- A Greek citizen.
- A Eurobank client.
In such case, your proxy (lawyer) submits your mortgage loan application, represents you and proceeds with all other steps.
If you do not bank with Eurobank and cannot come to one of our branches, your proxy (lawyer) may submit both the required supporting documents to start a banking relationship with Eurobank and your mortgage loan application.
Important information about your loan
At the branch or on the video call through v-Banking, we give you or your proxy (lawyer) brochures with all the information you need to know about mortgage loans for International Customers:
- General Information
- Supporting Documents
Submitting an application
At the branch or through v-Banking, we issue your loan application (in Greek or in English). We help you or your proxy (lawyer) to correctly complete it.
Once you sign and submit your application, we check your documents and assess your application based on your creditworthiness.
Find out the supporting documents for submitting a loan application.
You or your proxy (lawyer) receive:
- Pre-approval Certificate – It sets out all the conditions that must be met for final approval of your loan. Conditions may vary depending on the commercial value of the property and the type of collateral.
- European Standardised Information Sheet (ESIS) – It includes your personal details, the features of the loan you are interested in, and an annual percentage rate of charge (APRC) example. It also includes all the information you need to know before entering into a loan agreement, in compliance with Law 4438/2016 on mortgage loans.
Then, one of our officers contacts you or your proxy (lawyer) about the next steps.
The pre-approval of your mortgage loan is valid for 90 days.
We can extend it beyond this period, provided there’s been no change in your financials. Otherwise, we check your financial details again.
Once your mortgage loan is pre-approved, you or your proxy (lawyer) submit the supporting documents for the final loan approval.
Legal due diligence
Our lawyers check the property on which the lien is placed on at the competent Land Registry and/or the National Cadastre & Mapping Agency.
Legal due diligence allows us to ensure that the property:
- Is legally owned and has been legally transferred for the last 20 years.
- Is free from all encumbrances and litigation for the last 20 years.
For us to proceed with the legal due diligence, you or your proxy (lawyer) need to submit certain documents to the branch or through v-Banking.
Technical due diligence
Technical due diligence takes place on the property used as collateral or, in some cases, the financed property too (when different). It is conducted by an independent certified engineer / appraiser under Law 4438/2016.
Technical due diligence is conducted with a physical inspection of the property and determines the property value.
To set an inspection date, our engineer calls you or your proxy (lawyer). They inform you of the required documentation at this stage (photocopies).
The technical due diligence certifies that the property used as collateral:
- Is not an illegal construction and there are no planning irregularities (e.g. any semi-open space has been legalised).
- Complies with town planning regulations.
- Does not have any structural or static problems.
- Is constructible – if it is a land plot.
Fees for due diligence
You are charged with the fees for legal and technical due diligence (One-off Due Diligence Costs). They include the engineer’s and the lawyer's fee for inspecting the property and its legal status respectively.
If two properties are pledged as collaterals, we carry out a due diligence check on both. In this case, there is an additional cost (One-off Additional Collateral Cost).
You pay part of the cost for due diligence once your loan is pre-approved.
You pay the remaining amount as well as other loan costs after signing the agreement.
Find out the supporting documents for the final loan approval.
If you don’t have a Greek Tax Number
At the final approval stage, you must get issued with a Greek Tax Number. Acting as a one-stop hub, we work with leading tax consultants who can help you get issued with a Greek Tax Number, and assist you with other tax and public administration related services.
If the pre-approval is no longer valid
We inform you of the required documentation to renew the Pre-approval Certificate, upon your or your proxy’s request.
Final approval documentation
After the final mortgage loan approval, you or your proxy (lawyer) receive the:
- Final Approval Document
- European Standardised Information Sheet (ESIS) – Final Approval (Binding Offer)
- Loan agreement template
You have a reflection period of at least 5 days to assess all the details and make up your mind.
Then, our officer will contact you or your proxy (lawyer) to proceed with signing your loan agreement.
If you are securing your loan with a mortgage lien on property, you must take out fire and earthquake insurance on the property, as a minimum.
You may choose any insurance company that operates in Greece.
If you choose Eurolife FFH Insurance Group, you sign the Property Insurance Plan on the day you sign the mortgage loan agreement.
If you choose some other insurance company, you must submit your insurance policy on the day you sign the agreement.
Linked bank account
Your mortgage loan must be linked to a Eurobank account to facilitate repayment throughout the loan term.
Your loan expenses
On the day you sign the loan agreement, we inform you or your proxy (lawyer) in writing about the fees and expenses for your loan (Expenses Information Letter).
On that day, you pay such expenses:
- At the branch, where you sign your loan agreement.
- Through e-Banking, if you are not in Greece.
All the owners of the property must consent to the mortgage lien. The same applies to all the owners of the cash or titles pledged.
Mortgage lien on property
A mortgage lien on property must be registered at the District Court. The following individuals must appear before the court, carrying their statement and written consent:
- All the owners of the property used as collateral with their lawyers. Alternatively, only their proxy (lawyer) may appear.
- The competent Eurobank lawyer.
Cash collateral or pledge on securities
You may secure your loan with cash collateral, securities (e.g. investment products), bancassurance products or time deposits you keep at Eurobank.
In this case, you or your proxy (lawyer) must sign a relevant pledge agreement
Secured loan approval fees
If you use cash collateral or pledge on securities, you are charged with a One-off Loan Approval Fee. The amount is withheld when we disburse your loan.
When you buy a move-in ready property
We disburse the loan in one lump sum, as long as the property is finished.
With your authorisation, we issue a crossed cheque in the name of the seller of the property. However, if they already have a Eurobank account, we deposit the amount in their account.
When you build or repair property, or buy a property under construction
We disburse your loan in multiple instalments, based on the progress of the works. The disbursed amount is deposited in the Eurobank account that is linked to your loan.
Before every disbursement, our engineer performs an inspection to confirm the progress of the works.
Two years after the first disbursement, the full amount of the loan must be disbursed.