A discount is offered on the loan rate through a reduction in the loan rate margin that varies, depending on the energy class of the residence upon purchase or upon completion of a construction or repair project, ranging from 0.20% up to 0.80%.
If, for example the loan rate margin is fixed at 3% and a 0.20% discount applies, the discount margin will amount to 2.80%.
The discount is applied as of the first loan instalment, in the case of a purchase of residential premises and as of the completion, in the case of a construction or repair project.
For construction or repair projects, the discount also is subject to the additional condition that the borrower is current with his payments and, in the case of repair projects, to the condition that the energy class of the property is upgraded to at least the next higher rank.
The loan amount may be disbursed in a lump sum or in case of construction, through partial disbursements, following the progress of your project.
By monthly amortization instalments, starting one month after the loan disbursement and payable only via the borrower’s designated loan-linked Deposit Account with NBG.
Early repayment, in part or in full
Early or partial repayment is allowed at any time at no additional charges.
The loan is granted subject to a mortgage prenotation on a property asset of sufficient security value, in accordance with NBG’s current lending policy. The relevant expenses (Rates and Charges) are borne exclusively by the borrower.
Insurance coverage is required to ensure best protection of your financed property against basic risks, such as fire and earthquake, pipe fracture/cracking, burglary etc.
Ethniki Insurance undertakes to insure your property at a very low cost through fast and easy procedures, offering the following insurance packages:
- minimum insurance coverage
- minimum and additional insurance coverage
- contents insurance coverage.
Borrower/Guarantor Life insurance:
To ensure the complete protection of your property, Ethniki Insurance also 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 remarkably low cost.
Rates and charges
To find out about the rates and charges associated with the housing loan, click here.