You go to the bank to ask for a loan.
You essentially apply and ask for an amount close to 100 thousand euros.
They tell you no and they approve you for 40 thousand euros.
The reason is the fact that you are on a low salary, you will not be able to meet the monthly installment.
3% interest rate and an installment close to 150-160 euros per month.
The interest rate is variable.
Today at 7%.
The installment rises to 350-400 euros.
And suddenly now you are not low-paid and can pay the installment?
THIS IS THE CYPRUS REALITY.
D.C
Source: 24h.com.cy