In a rapidly changing environment, characterized by uncertainty, everyone is looking for stability to build their dreams.
Listening to this need, the Bank of Cyprus is leading the way once again and offers its customers another stable option for acquiring a home. It now gives them the possibility to “lock in” the interest rate and installment of their mortgage for a full 25 years.
The benefits are many and important as any changes in interest rates leave the installment unaffected until the end of the term. loan and thus Bank of Cyprus customers can plan their family budgets with greater ease and confidence, even if they do not benefit from a possible reduction in interest rates. There are charges if the loan is paid off early.
The 25-year fixed rate option is not just limited to first home ownership as it can cover home renovation financing and the purchase or renovation of a holiday home. The duration of the loan is 25 years.
The new innovative move of the Bank of Cyprus comes to be added to the existing lending options with a fixed interest rate that it provides to its customers. It is reminded that the options for a fixed interest rate of 3, 5 or 10 years are offered to those who wish to acquire their own first residence, holiday home or proceed with renovation. The repayment period of the loan, for a first home or holiday home, can reach up to 35 years as the interest rate becomes variable after the end of the fixed rate period.
Warning: There are charges if you pay off the loan early. your loan. If you do not stick to your loan repayment plan, you may lose your home.
For more information, you can contact the Branch Network or the Bank of Cyprus website.
