Fees: Bank fees are typically 0.5% to 1.5% of the mortgage depending upon the size of the loan.  The Registration of mortgage in local land registry is approx 0.9% of the loan amount and the banks legal fees can be 0.5% to 0.85% of the loan (maximum 1500€).  The total costs for buying a property, including notary, bank, legal, registration, taxes etc, with a 70% mortgage are typically 10% to 16% of the total price. 

Legal issues and Valuation

Remember: don’t sign anything or put down a deposit until you have taken legal advice. Your lawyer will be able to extensively cover the legal costs and taxes you are liable for prior to committing yourself to a purchase or remortgage. Contracts for property in Greece are drawn up by notaries who are permitted under law. Applying for a tax registration number (AFM) is one of the first things that you should do once you have secured financing. Every foreign buyer will need an AFM before they are able to own a property legally in Greece. The AFM is free and is issued by the tax offices, your solicitor can apply for the number on your behalf, provided you have given them full Power of Attorney. Valuations are inexpensive and normally cost under 250 Euro. IMM will liaise with your lawyer throughout the process. We will obtain the relevant documents recording the current ownership and registration of the property.  

Please contact us as soon as possible to arrange an approval in principle. This will enable you to find out how much you can borrow and obtain initial terms.  If you haven't found a property that you want to buy we can help you to establish your affordability and issue an approval in principle based on your current financial situation. 

Please feel free to contact us europe@intl-mortgage.co.uk or request a quote