Mortgage loan

What a mortgage loan is

A mortgage loan is long-term borrowing secured on property. The lender registers a mortgage prenotation (prosimeiosi) on the property you are buying or already own, and this security is why the interest rates are lower and the terms longer than for any other kind of borrowing. It covers buying a first or second home, building on a plot you already own, completing an unfinished home, repairs and energy upgrades. The amount finally approved is not set by the value of the property alone. Lenders also look at your income and work out what share of it the monthly repayment will take, together with any other obligations you already have. That is why two households interested in the same property may receive completely different answers: what decides is not only what the house is worth, but how stable and how well documented the income of the person repaying it is.

Which documents you need

A mortgage file has three parts. First, identity: an identity card or passport, and proof of your home address. Second, finances: tax assessment notices and tax returns for recent years, a certificate of earnings if you are employed, or your business records if you are self-employed. Third, and usually the slowest, the property: title deeds, a topographic plan, the building permit, an energy performance certificate and an engineer’s certificate that the construction is legal. In practice the property file takes longer than your own, especially for older homes where the title needs putting in order or where unauthorised construction must first be regularised. If you have not chosen a property yet, the process can start with your own details and be completed later.

How long the process takes

There is no fixed time, and anyone who gives you one is misleading you. What can be said with certainty is which stages it goes through and who controls each. The first stage is gathering your own financial records, and it depends mainly on you. Next comes the lender’s preliminary assessment, which decides whether the request has a basis before effort goes into the rest. Then comes the legal and technical check of the property, with a lawyer for the title and an engineer for the valuation, and this is the stage that usually sets the overall time. Finally the contract is signed and the prenotation is registered. Delays almost always arise at the same point: incomplete title deeds, unregularised construction, or inheritances that have not been completed. The sooner they are found, the less time they cost.

Costs beyond the repayment

The monthly repayment is usually the only cost people work out in advance, but it is not the only one they pay. A mortgage also has costs that arise mainly at the start. The lender usually charges a fee for examining the request. The engineer’s valuation of the property is paid separately, as is the lawyer’s check of the title. Registering the prenotation has its own costs. The property must also be insured for as long as the loan runs, at an annual cost alongside the repayment. None of these is hidden, but if you do not ask about them explicitly, you may learn of them late. Ask from the start for the full picture of the cost, not only the size of the repayment, so you know how much cash you need before signing.

“Spiti mou” and other housing programmes

“Spiti mou 2” (My Home 2) helped people up to 39 years old buy a first home at a lower interest rate. It no longer accepts applications: new applications stopped on 31 May 2026 and the last contracts were signed by 31 August. According to press reports, the Hellenic Development Bank is preparing a new programme for 2027. Its terms have not been announced, so no one can tell you today whether you will qualify. For renovation and energy upgrades there are subsidies, such as “Exoikonomo” and “Anakainizo”. The subsidy covers part of the cost and you cover the rest, from savings or with a loan. Each programme has its own deadlines and criteria, and they change often. Before you base your plan on a programme, read its terms on its official page. We do not submit applications to programmes. If one interests you, mention it in your request and we will keep it in mind when we speak.

How we help

We listen to what you want to finance and the position you are starting from. We tell you plainly what looks feasible, which documents lenders usually ask for, and where most files get stuck. Then we put you in touch with lenders who consider cases like yours. We do not grant loans, we do not approve requests, we do not prepare your file and we do not replace your lawyer or engineer. Contacting us does not commit you and costs you nothing. If your request is unlikely to find a response at the moment, we will tell you, rather than keep you waiting. How we are paid is disclosed to you before anything goes ahead.

What happens if the request is refused

A refusal is not final and does not mean you will never get a mortgage. It means that, with the information submitted and for that particular property, that particular lender is not going ahead. The most common reasons are three. Your income does not cover the repayment together with your existing obligations, so the answer is a smaller amount, a longer term, or paying off other loans first. The property has a legal or planning problem, so putting it in order comes first. Or there is a negative history in the credit records, which in some cases is corrected with time or with a settlement. In every case you have the right to ask for the reason for the refusal. Ask for it, because without it the next attempt will run into the same obstacle.

Documents at a glance

1. Identity card or passport
2. Tax assessment notices and tax returns for recent years
3. Certificate of earnings or business records, depending on how you work
4. Title deeds of the property
5. Topographic plan and building permit
6. Energy performance certificate
7. Engineer’s certificate that the construction is legal

Additional services: save time

A loan takes paperwork, deadlines and patience. If you would rather not go from office to office yourself, we handle it, as an accounting firm:

• Gathering and organising documents
• Tiresias and debt settlement

Fee: €100 for individuals and sole traders, excluding VAT. For companies, by quotation. They are optional and separate from the loan: you choose them, if you want, at the last step of the form. All the details.

Frequently asked questions

Do I need to have found the home before I start?

Not necessarily. The process can start with your own financial details, so that you know what range of amount you are working with before you start looking. The property details are added later, once you have chosen it.

Can I get a mortgage if I am self-employed?

Yes, but documenting your income is more demanding than for an employee. Records for more years are usually needed to show stability, and changes from one year to the next are looked at carefully.

Does the loan cover the whole value of the property?

Usually not. Lenders finance a percentage of the market value and the rest is covered by your own funds. The exact percentage differs by lender and by case, which is why it is looked at separately each time.

What is a mortgage prenotation?

It is the registration that secures the lender’s right over the property until the loan is repaid. The home remains yours and you use it as normal. The prenotation is removed after full repayment.

If I already have another loan, does it stop me?

It does not rule you out, but it counts. Lenders work out all your monthly obligations against your income. An existing loan reduces the margin, so a smaller amount or a longer term may be proposed.

How much does it cost to contact you?

Nothing. Sending an enquiry and the first conversation cost nothing and do not commit you to anything. If we go on to work together, the terms are agreed in writing and disclosed to you before any step goes ahead.

What are the requirements for a mortgage loan?

Lenders look mainly at four things. Income that can be proved and is stable. How much of it already goes on other repayments. Your own funds, because the loan usually does not cover the whole value. And a property with clear title and legal construction. Each lender sets the exact limits.

Can I move my mortgage to another bank?

Yes. The new lender pays off the old loan and gives you a new one, on its own terms. It examines the request from the start, like any new loan, and values the property again. Moving has costs, for the valuation and the prenotation. Before you start, check your contract for any early repayment charge.

Is there a loan for renovating a home?

Yes, as a repair mortgage, with a prenotation on the property. It helps to have the budget for the work ready. If the renovation also improves energy performance, first check whether a subsidy programme is open.

Where to check

• Hellenic Development Bank — Runs the state housing programmes, such as “Spiti mou”, and publishes their terms.
• Bank of Greece — Supervises credit institutions and publishes the official figures for the loan market.
• Hellenic Cadastre — Where title deeds are checked and where the prenotation is registered.
• Tiresias — Keeps the credit records and gives you a copy of your own data.