How to secure a mortgage for an apartment in Limassol?

Follow these steps to secure a mortgage to buy an apartment in Limassol.

• Check affordability & LTV: Residents can borrow up to ~80% with terms up to 30–35 years. Investors often max at ~60%.
• Get pre-approval: Get approval from a Cypriot bank and use their affordability tools.
• Prepare documents: ID, income/tax proofs, bank statements; non-residents typically need larger deposits (often 30–40%).
• Choose Rate Type: Fixed (often 3–5 years) or variable.
• Bank valuation: Bank valuation by an approved valuer. Set your maximum loan on that value.
• Insurance: Insurance assignments (fire/earthquake; usually life) are required.
• Sign the Agreement: Sign the Sale Agreement, stamp and lodge it at the Land Registry.
• For Non-EU Citizens: If you’re non-EU, your lawyer seeks Council of Ministers/District approval.

Final Approval: After final approval, pay transfer fees and complete title transfer.