June 23, 2024

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Banks: Real estate loans for young people with financing up to 90% of the market value

Banks: Real estate loans for young people with financing up to 90% of the market value

Banks are awaiting the second new “Beyti” program with a budget of 2 billion euros announced by the Prime Minister, which is expected to correct a number of distortions from the previous program by expanding the age limit for beneficiaries, income criteria, etc. However, they have already “launched” new mortgages on favorable terms, covering both fifty-year-olds and those who do not want or cannot wait until the autumn when their new “home” is put into operation, or assume they will. It will be outside the new surroundings.

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Alpha First Residence

New home loans – which have the common feature of financing a property up to 90% of value – are another attempt to rewarm housing credit, but the biggest thorn is property prices, which have run wild in recent years if someone wants to buy or rent.

Alpha Bank, through its new housing loans for young people up to 40 years of age, “Alpha First Home”, finances up to 90% of the commercial value of the property, regardless of energy class and age, on favorable terms.

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For the first three years, you can choose a low fixed rate of 2.50% and a competitive floating rate thereafter, with no application processing fees charged. In particular, the loan term ranges from 5 to 35 years, with the possibility of a grace period of up to two years at the beginning of the loan, which can reach 300 thousand euros.

In addition, to cover personal needs related to obtaining housing (such as notary public and legal fees), all new mortgage loan clients can obtain from Alfa Bank a personal loan of up to 30,000 euros at a preferential fixed interest rate of 9.90%, below the current tariff ( up to 14%).

My first national home

It is noteworthy that the National Bank was the first to obtain a new mortgage loan “My First Home”, for borrowers up to 45 years of age, on preferential terms, financing up to 90% of the commercial value of an energy class property from C and above. The total amount of the loan can be up to 350,000 euros. It is possible to choose a fixed interest rate for the first 3, 5, 10, 15, 20, 25 or 30 years, while the loan repayment period reaches up to 40 years.

Youth housing at the European Bank

Eurobank followed with mortgages for young people up to age 45, with terms up to 35 years and an attractive 10-year fixed interest rate of 4%, which is lower than the bank’s corresponding mortgage products, or a fixed interest rate for an initial period. In this case, up to 90% of the property value is financed, while waiting for quick disbursement procedures. For the duration of the mortgage and with conditions, the monthly payment can be temporarily reduced or increased.


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