Your first home

Obtain your own home with a loan you can repay at your own pace

  • Financing amount up to 80% of the value of the property

    Obtain your first home with financing up to 80% of the value of the property with a repayment period of up to 35 years.

  • Variable or fixed rate option

    Option for a variable interest rate for the whole duration of the loan or a fixed rate for 3, 5 or 10 years. After the end of the fixed interest period, the interest rate changes to variable.

  • Fixed interest rate and installment for the entire term

    Choose a mortgage loan with a fixed interest rate for 25 years.

Calculate your indicative installment


More information

  • Permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, call in at any of our branches to find out about your options.

  • Minimum duration

    10 years:

    • for a loan with a variable interest rate from the beginning
    • for a loan with a fixed interest rate of 5 years

    15 years:

    • for a loan with a fixed interest rate of 3 or 10 years

     Maximum duration

    35 years:

    • for a loan with a variable interest rate from the beginning
    • for a loan with a fixed interest rate of 3, 5 or 10 years

    Duration of a mortgage loan with a fixed interest rate of 25 years

    The duration cannot be shorter or longer than 25 years.

  • A borrower’s maximum age at loan maturity is 65 years

  • There is an option for grace period:

    • Up to 12 months on capital or
    • Up to 12 months on capital or on capital and interest rates if the property is under construction.
  • In case of unforeseen events, you can postpone the payment of up to 2 monthly installments per year (24 installments during your loan duration). The granting of the installment suspension is at the discretion of the Bank and is subject to terms and conditions.

  • There are no initial bank fees

  • You have the right to withdraw from the agreement within 5 business days from the date of its conclusion

    • Bank of Cyprus Public Company Ltd (the “Bank”) offers housing loans with variable interest rate based on the European Central Bank Base Rate (“ECB Base Rate”) and the Bank of Cyprus Base Rate (“BCBR”).
    • It is noted that the margin based on the ECB Base Rate is currently and indicatively from 1,50% to 1,90% and the total interest rate based on the ECB Base Rate is currently and indicatively from 6,00% to 6,40%.
    • It is noted that the margin based on the BCBR is currently and indicatively from 3,40% to 3,80% and the total interest rate based on the BCBR is currently and indicatively from 4,28% to 4,68%.
    • The interest rates offered vary based on criteria evaluated and applied by the Bank in accordance with its credit policy as applicable from time to time, taking into account factors such as customers’ credit history, the collateral, the loan amount and loan duration, as well as the applicant’s contribution.
    • For more information, please contact any of the Bank’s branches.


    For indicative examples click here 

  • What options are there regarding interest rates?

    For some loans you can select a floating interest rate or a fixed rate for a specific time period.

    If you select a fixed interest rate, the interest rate will remain fixed for the specified period agreed with the Bank (e.g. 5 years). It will not change under any circumstances. Thus, your installment remains fixed, unaffected by a possible rise in interest rates, however it should be noted that, at the same time, you do not benefit from a possible reduction in interest rates. At the end of the fixed rate period, the loans are converted to floating interest rate loans, except for 25-year fixed interest rate loans, where the interest rate remains fixed for the entire term of the loan.

    If you choose a floating rate loan, then the interest rate can be changed at any time (upward or downward). The variable interest rate consists of the base plus margin. Every time the total interest rate changes, your loan installment will also change.

    What are the initial fees?

    Some loans may bear initial fees, payable upon the granting of the loan.

    Initial bank fees

    • Arrangement fees: these relate to the Bank’s costs for preparing and evaluating your application.
    • Contract preparation costs: a fixed charge for the preparation of contracts for loans,; the charge is determined by the loan amount.


    Government fees

    These fees are regulated by law as follows:

    • Mortgage registration fees paid to the Land Registry.
    • Fees relating to stamping the loan documents and paid to the Commissioner of Taxation.
    • Fees paid to the Land Registry in cases where the transfer of property from one owner to another is necessary.


    Fees paid to third parties

    These are fees related to valuations carried out on behalf of the Bank by approved valuers for mortgaged property, or fees related to life and/or home insurance.

    Find out about all Bank fees from the Table of Commissions and Charges


    What do I need to know about loan installment payments?

    • You can provide instructions in writing, so that your installment is paid automatically from your current account.
    • You can pay your installments as stipulated by the terms of your loan. Please make sure to designate a date that is convenient for you. Should this date change, you need to promptly  contact your personal banker.
    • Delayed installment payments incur additional costs, increasing the cost of your loan.
    • Should your financial circumstances change and you are unable to keep up with installment payments per the terms of your contract, please get in touch promptly with your personal banker in order to agree a new repayment schedule adapted to your new circumstances.


    What happens if I pay off my loan/installments early?

    Where a loan is paid off early, or installments are paid early in relation to the agreed schedule, the Bank will charge costs depending on the type of interest rate and the amount that was paid early.

    In case of loans with a long duration of fixed interest rate, the cost of early repayment may be significant.  The cost of early repayment that is estimated by the Bank mainly depends on the interbank market interest rates which fluctuate on a daily basis as well as on the date of early repayment. For more information you can contact a Relationship Officer in our Branch network.

    You may also be informed about all Bank fees from the Table of Commissions and Charges

    What is the Annual Percentage Rate (APR)?

    The Annual Percentage Rate (APR) is the total cost of the loan to the consumer, expressed as an annual percentage on the loan amount. The APR includes all loan expenses paid by the client to either the Bank or to third parties (e.g. government fees, valuation expenses, insurance etc).

    The APR is considered to be the best tool as it includes all loan expenses. It helps you form a complete picture and to compare the Bank’s schemes with the schemes of other banks.



The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time. If you do not make regular installment payments according to your loan repayment schedule, you may lose your house. There are charges for early loan repayment. In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.


+35722128000 from abroad
Monday to Friday, 07:45 - 18:00 Saturday and Sunday 9:00 - 17:00

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