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What are my options for obtaining a mortgage in Cyprus?

We are frequently asked how to obtain a mortgage for a property located outside of the United States, and in particular, how easy it is to obtain a mortgage in Cyprus. The good news is that obtaining a mortgage for a property located outside of the United States, including a mortgage in Cyprus, is achievable; nevertheless, there are some considerations to consider and risks to be aware of.
We are fortunate in that we work with mortgage advisors that are professionals in this field and can provide sound counsel.

How can I get a mortgage in Cyprus?

Obtaining a mortgage in Cyprus for non-Cypriots is more difficult than purchasing locally due to the increased risks. To begin, contact an international broker that can assist you in locating the finest mortgage for an abroad property in Cyprus.
Our consultants are professionals in this field; call us today for the best guidance.
After you’ve picked your property and the mortgage has been accepted, you’ll need to hire a solicitor in Cyprus to complete the necessary documentation, which includes drafting out a contract, just as you would in the UK.
So that there are no misunderstandings, your lawyer should be fluent in both English and the local language. If you choose to work with a firm from your home, make sure they are registered with the Law Society of England and Wales and have experience with international transactions.
You’ll need to put down a 30 percent deposit, which you can figure out using a Cyprus mortgage calculator.
After final contracts are signed, the property must be registered with the Cyprus Land Registry, which will be handled by your solicitor. Following that, you’ll have to pay the applicable fees and taxes, which are detailed below.

Tax considerations

When you buy a home in your home property, you will be forced to pay fees, and when you buy a home in Cyprus, you will be required to pay taxes.
Stamp duty, transfer costs to the Cypriot government, an annual municipality tax to the local authority, an annual sewerage tax, and immovable property tax are among them (IPT).
In addition to your solicitor and surveyor fees, stamp duty and transfer fees are based on the value of the property and can amount to roughly 10% of the total sale price. Speak with a tax expert to get an accurate estimate of your total fees.

Why do you need to work with one of our expert international brokers?

It’s difficult to find out what mortgage rates are available in Cyprus if you’re not a resident.
An international broker can help you get the best Cyprus mortgage rates from a local lender, taking into account your deposit, the length of mortgage you want, the sort of property you want (including unique homes), and your age.
They will also be familiar with local rules, allowing them to get you the greatest prices on a mortgage to buy property in Cyprus.

Mortgages in north Cyprus differ from those in south Cyprus

Obtaining a mortgage in north Cyprus may entail additional risks, as the political landscapes in north and south Cyprus differ, and your mortgage may be affected.
Because the British government considers North Cyprus to be unstable, British banks will not lend money to residents of the country. If you want to receive a mortgage in northern Cyprus, you can get a north Cyprus mortgage from a Cyprus bank, just like you can get a south Cyprus mortgage. You can also get a UK mortgage for a property in Cyprus or check into euro mortgages.


The active Royal Air Force base RAF Akrotiri is located near the town of Limassol on the island’s southern point. If you buy or are considering to buy a home in this area, you may be subject to the same noise pollution that you would anticipate from living near an airport, which could lower the value of your home.

What are the potential dangers?

If you’re thinking about buying a home in Cyprus, there are a few risks you should know…


Currency changes effect purchases made in any country. Exchange rates are subject to fluctuation, affecting the interest rates that apply to your mortgage. If exchange rates move by more than 20%, your lender should notify you.
You would not receive the same legal protection from a Cyprus bank as you would from a UK bank if you have a mortgage with them. You can secure a mortgage from a UK bank, but they won’t be familiar with the local market and may not be able to advise you on the best mortgage option.
This is where our expert advisors come in; they will do everything possible to get you the best offer possible depending on your specific circumstances.


If you plan to develop on the land, you must first determine what licenses and planning authorization are required. When dealing with officials in another country, it can be difficult to locate title documents and appropriate certificates.
You should also make sure the land does not already have a mortgage on it.