Tips For Getting A Mortgage In Greece

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There are advantages and disadvantages to each, and the decision will depend on your particular circumstances.

If you want to use the equity from your British home to help fund your Greek property, you might want to use a UK lender. However, if you receive your income in Euros it might be the best answer to take out a Greek mortgage because having your paycheques and your outgoing mortgage payments in the same currency can save you money on exchange rate variations.

It is not as difficult as you might think to obtain a Greek mortgage, and now that Greece has adopted the Euro as its currency it has gotten much easier still. Mortgages in Greece are available for most foreign buyers, who can obtain them through Greek banks. Be aware that Greek bureaucracy is notoriously slow and your mortgage application might take some time to be approved. However, there should be no issues with approval and you will be able to take out a mortgage to buy your property in Greece.

How do banks in Greece assess mortgages?

Mortgage lenders in Greece usually assess the eligibility of the loan based on the ability to service the loan after any deduction of outstanding credit commitments elsewhere in the world. The amount that you will be able to borrow from a bank in Greece to purchase a property in Greece will be normally based on a percentage of this remaining amount.

How much will I be able to borrow?

Most banks in Greece will be able to lend up to ninety percent of the purchase price of Greek villas or apartments in Greece.

What proof of income will I need to provide?

If you are working for an employer, you will need to produce your payslips from the last three months and your personal bank statements from the last six months. If you are self-employed you are required to show a copy of your Audited Accounts, your last twelve months of business and your last six months of personal bank statements.

Are mortgages available for every type of property?

Loans are available for a wide range of different types of property in Greece. Whether you are purchasing a large villa, a new development, a small town house, or apartments in Greece you will likely be able to get a mortgage.

Will the bank take into account the fact that I am intending to rent out my property in Greece?

No, most Greek banks will not consider any potential rental earnings when calculating a mortgage. If you are applying for a mortgage at a Greek bank, you will need to be able to afford the property for sale in Greece whether you are renting it out or not.

Comparing the Tesco Credit Card Options

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Tesco is the leading retailer in the UK, and it is one of the largest retailers in the world. Along with its wide selection of merchandise and services, Tesco offers several different consumer credit card options that provide users with benefits such as balance transfer options, low APR, and compelling introductory offers. Before election your Tesco credit card, take a moment to review the different options available to you.

Tesco Clubcard for Purchases

The Tesco Clubcard for purchases offers enhanced buying power with its introductory zero-percent interest rate for the first 16 months. You’ll enjoy these low rates in addition to accumulating up to 5 Clubcard points per pound spent on purchases made at Tesco, and you’ll get 1 point for every 1 spent outside of Tesco and its partner companies. These points can be redeemed for Tesco merchandise, airline tickets, and meals at local pubs and restaurants. In addition, you can take advantage of zero percent interest on balance transfers for up to six months. The balance transfer fee for this offering is 2.9 percent, making it an affordable way to manage existing debt.

Tesco Clubcard for Balance Transfers

Tesco offers a credit card that is designed specifically for customers who want to transfer balances to the Tesco credit card. You’ll have up to 28 months to pay off the balance you have transferred, and you will only pay a 2.9 percent balance transfer fee. Your new Tesco Clubcard for balance transfers will still give you optimized Clubcard points, and you can enjoy interest-free purchases for the first three months after you have opened your account.

Tesco Low Balance Transfer Fee Credit Card

Another option for those who are looking to transfer old debt to their Tesco credit cards, the low balance transfer fee credit card charges just .85 percent for transfers. The low fee makes this card an ideal option for transferring large balances without paying a large penalty. You will have up to 12 months to pay off the balance before accruing any interest, and you can shop interest-free for that same time period.

Tesco Low APR Credit Card

If you would prefer to enjoy lower interest year-round instead of zero percent interest for the first few months, the low APR credit card option may be right for you. While some of the other Tesco credit card offerings come with an APR of 18.9 percent, this lower APR card comes with a variable interest rate of just 7.8 percent, and you will still have access to the zero percent interest balance transfer benefit, though it is only good for the first three months after you open your account. As with the other Tesco credit cards, you will get to earn Clubcard points faster.

Tesco Credit Card Account Extras

Low interest rates and balance transfer fees aren’t the only selling points for the Tesco credit card options. You can take advantage of the 24-hour call centre, so you can always talk to a representative when there are issues with your account. Text message alerts let you know when you are approaching your credit limit, and online banking allows you to manage your account, pay your bill, and view your available balance. Your card is protected from fraud in accordance to the law, as with any credit card, but Tesco offers fraud alerts whenever there is suspicious activity on your account. You can also register an extra layer of protection that applies to your online purchases made with the Tesco credit card.

Tesco travel cash allows you to buy foreign currency for travel as a transaction instead of a cash advance, which means you won’t have to pay exorbitant fees to purchase money before you travel abroad. You can even get access to an emergency card and cash if you lose your Tesco credit card while traveling outside of country.

Tesco credit cards offer versatile credit card solutions, and with so many options, it is easy to find the card that fits your needs. Whether you want a card with a low APR or one that gives you the ability to transfer old credit card balances, Tesco has a product that can work for you.