Mortgage and Finance - Securities

The Land will act as collateral to ensure your loan. The bank will also ask you for a 20% to 40% contribution depending on the property you are purchasing.

In case there is not yet a separate title deed for the property, a Letter of Guarantee may be required from the seller’s Bank to guarantee the issue and transfer of the title deed in the purchaser’s name. The Letter of Guarantee will be renewed annually until the title deed is issued; the bank charge for this is currently 1.8% of the loan/annum.

Assignment of the Purchaser’s rights deriving from the Contract of Sale in favour of the Bank.

Assignment of a Level Term Assurance Policy for the initial amount of the loan and for the full period.

	General information
	Securities
	Documents and information required by Banks