Financial Packages: There is an agreement with all the local banks whereby purchasers can apply for a mortgage to finance the purchase of up to 80% of the value. As a prerequisite, the banks will require payment by the purchaser of 20% of the value of the property purchased, and the assignment of the sales agreement by the developer / builder together with a letter to the relative bank guaranteeing repayment.
Bank terms are agreed by the developer / builder and local banks as below:
- 20% contribution by purchaser
- Grace period for both capital and interest up to the delivery of the property maximum 2 years.
- Low interest rates
- Loans can be in Euros or Swiss Francs
- The duration of the loan can be up to 40 years