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.
The interest rate is a floating rate, based on the 3Μ Euribor plus a fixed margin rate. Please note that the floating rate fluctuates in line with any increase or decrease in the base rate, which will impact your monthly installments accordingly. The floating rate also includes the levy required under Law 128/75, currently 0.60%.
For further details about the loan rate and expenses, click here. It is helpful to know that the loan rate is customized after reviewing your loan application and taking into account factors like the purpose of the loan, the property value, and your credit score
Yes. The loan is granted subject to a mortgage prenotation on a property asset of sufficient collateral value under NBG’s current lending policy. For any related expenses, please read more information here: Rates and Charges.
Yes, insurance coverage is required to protect your financed property against basic risks, such as fire and earthquake, pipe fracture/cracking, burglary, etc.
You can choose any insurance company to insure the property. Ethniki Insurance undertakes to insure your property at a very low cost through fast and easy procedures, offering the following insurance packages:
You can also opt for Borrower/Guarantor Life insurance. Ethniki Insurance undertakes to pay up the remaining loan balance in the event of the borrower’s and/or guarantor’s death due to illness or accident during the loan repayment period. This insurance coverage is optional and offered at a very low cost.
The distribution of the insurance plans is provided solely by qualified NBG staff certified in insurance intermediation services. The insurance plans have been set up by Ethniki General Insurance and are distributed by the branch network of National Bank of Greece SA, 86 Eolou, 10559 Athens, Company Reg. No.: 311481. The Bank is registered with the Special Register of Athens Chamber of Tradesmen under Reg. No. 1028 as an insurance agent.
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