With a mortgage loan for other uses, you can build, buy or renovate a property, that is not to be used as your home, with favorable terms.
You can also:
The loan amount starts at a minimum of €10,000 and may finance up to 100% of the total cost of your investment - based on the purchase contract - or relevant project.
In order to calculate the maximum you could borrow, we take under consideration parameters like the property value and the monthly repayments you can afford depending on your monthly income and standard expenditures.
You should note that it will be necessary to make a down payment in the event of a home purchase. To get a better idea of the loan amount you can get, you can use our loan calculator to determine the right repayment plan for your circumstances.
With a Mortgage Loan for other uses, you can:
The disbursement of the loan amount depends on the purpose of the loan.
For the mortgage loan for properties intended for other use, i.e. not for residence, you can choose:
A floating interest rate based on 3M Euribor plus interest margin throughout the entire term of the loan or
A fixed interest rate for the first 3, 5, 10, 15, 20, 25 or 30 years and floating rate thereafter based on 3M Euribor plus interest margin.
Note that the floating interest rate is subject to changes in line with any increase or reduction in Euribor, and this may cause your instalment amount to go up or down. Also note that the loan's interest rate is subject to the levy under Law 128/75, currently 0.60%.
You can find all the details regarding the loan rate and charges here. Please note that the interest rate is calculated when your application is assessed, taking into account factors such as the purpose of the loan, the value of the mortgaged property and your credit score.
After final approval, the following steps are:
Signing the loan contract
To sign the loan contract, you come to your NBG branch.
At this point, you need to insure the property, while you can also ask to get a privileged EXPRESS Loan if you want to cover increased costs or urgent needs.
Collateral for the loan
After the loan contract is signed, it’s time to pay the mortgage prenotation expenses and initiate all relevant actions. We are doing our best to relieve you of unnecessary stress and painful procedures, so an NBG associate lawyer undertakes to arrange the mortgage prenotation and obtain all relevant certification upon completing the process.
As soon as all formal procedures are concluded, we’ll get in touch with you so you can notify us of the date you would like the loan to be disbursed to your account. If you’re taking out the loan for construction/completion or repairs, the subsequent loan amount is disbursed through partial disbursements, in line with the progress of your project. After the first payment, an engineer in contract with the Bank will monitor the progress of the construction works before every subsequent payment.
Remember that you pay by monthly amortization installments, starting one month after the loan disbursement.
Designed to meet your needs
Even more protection after taking out your housing loan with an NBG insurance package covering fire/earthquake and life.Tell me more
You can cover your moving expenses or other needs with an EXPRESS Loan, up to € 6.000, you can get quickly.Tell me more
For even more rewards, sign up for go4more and gain even more go4more points when you pay your loan installments in time.Tell me more
You can get the housing loan you want through an easy process. Check out the loan conditions for information on the supporting documentation and the questions we will ask you when you apply.Loan conditions
Find even more information that can help you meet your needs