First Residence Loan

You can use the Loan Calculator to evaluate your eligibility. Additionally, you can email or contact us to schedule an appointment for more information.

You can apply for up to €300,000 (up to 80% of the estimated value of the property). For loan amounts above €300,000, contact us for a quotation.

The repayment duration of the First Residence Loan is from 5-35 years. Please note that the Debtor’s age must not exceed 65 years at loan maturity.

For houses under construction there is up to two years grace period on capital (this means you only need to pay the interest during this period) from the start of the loan.

You have the ability to suspend up to two monthly instalments per year, as long as the Bank is informed at least one month prior the date of the instalment, with a maximum of 24 instalments during the duration of your loan period. Terms and conditions apply.

If the residence is under construction the disbursement is gradual according to the progress of works. In the case where the residence is completed and the amount needs to be paid in full the disbursement is done in full at once.

Some of the securities that may be requested:

• First mortgage over the financed property
• Life insurance policy on the borrower
• Fire and earthquake insurance over the mortgaged property
• Any other security or guarantee as required by the Bank
• Borrowers’ salary to be deposited directly to Ancoria Bank
• Borrowers should fulfil all the internal credit risk criteria of the Bank

The bank has the right in its discretion to request for additional securities to be provided.

You have the right to withdraw within 5 working days from its conclusion without penalty or justification, unless you proceed with the disbursement of any amount subject to the credit agreement before the expiry of these 5 working days.

Ancoria Bank’s First Residence Loan has a variable interest rate, calculated based on the BBRH (Bank’s Base Rate Housing) plus the margin or on Euribor 6-month base rate. You can view the rates here.

A variable interest rate fluctuates based on market changes, whereas a fixed interest rate remains constant throughout the loan term.

The Annual Percentage Rate (APR) is the total cost of the credit facility expressed as an annual percentage, helping you compare different offers.

There are no initial charges on primary housing loans. For details on charges, refer to our Table of Commissions and Charges.

There are additional charges such as stamp duty fees, mortgage fees, property valuation fees etc.

You can choose to partially or fully repay your loan earlier than your agreed First Residence Loan repayment schedule, with the possibility of a prepayment fee.

Missing a repayment will result in extra charges or penalty fees, increasing the cost of your loan.

We advise customers experiencing financial difficulties to promptly contact their personal banker or a bank representative to adjust their repayment schedule.