Green Fixed-Rate Mortgage Loan

A mortgage loan to buy, build, renovate or finish a low energy-consumption home. For the first 2, 3 or 5 years the interest rate is fixed and then it varies with the Euribor 1M rate plus a spread, which depends on the energy class of the home.
INTEREST RATE
Fixed
For 2, 3 or 5 years

then
Variable
Euribor 1M + a spread
+ Law 128/1975 levy
LOAN TERM
Up to 30 years
LOAN AMOUNT
From €20,000

and up to 80% of the estimated value of the property
KEY ADVANTAGES
  • Financial planning
  • Discounted rate depending on the energy class of the home
  • Zero loan expenses
INTEREST RATE
Fixed
For 2, 3 or 5 years

then
Variable
Euribor 1M + a spread
+ Law 128/1975 levy
LOAN TERM
Up to 30 years
LOAN AMOUNT
From €20,000

and up to 80% of the estimated value of the property
KEY ADVANTAGES
  • Financial planning
  • Discounted rate depending on the energy class of the home
  • Zero loan expenses

5 more reasons to get a Green Loan

 1.  Lower interest rate

You can receive a discount off your Green Mortgage Loan interest rate during the variable-rate period depending on the energy class of your home. The greener you home is the lower the interest rate will be.


 2.  Zero loan expenses

We reward your decision to choose a green home and offer you the Green Fixed-Rate Mortgage Loan with zero loan approval fees and zero loan expenses (engineering inspection, due diligence, court appearance fees and fees for certification of works performed on the property).


 3.  Green services

Designed to address your needs, the green points of service at all branches in our network offer you useful services to complement or add value to your project.

Green services for Personal Banking


 4.  Energy and cash savings

Your home will save energy. This gets you both low overheads over the years to come and a fast amortisation of your investment.


 5.  The right thing to do for the environment

The Green Mortgage Loan enables you to achieve 2 objectives at once: To get an energy-efficient home and to help protect the environment.

Advantages

Why get a Green Fixed-Rate Mortgage Loan

To buy, build, renovate or finish a low energy-consumption home.



Preferential terms

  • Competitive interest rates during the variable-rate period depending on the energy class of your home
  • Extensive financing
  • Long repayment term of up to 30 years

 

Instant quote

  • Visit any Piraeus Bank branch
  • Call us on 18 218, 24/7

 

Service every step of the way

Our Green Banking experts at every branch in our network will explain your options and the procedure. They will help you apply for and monitor your loan.

Features

Loan amount

From €20,000

Depending on the purpose of the mortgage loan, the percentage that can be financed is:

  • Up to 80% of the estimated value of the property
  • Up to 90% of the estimated construction cost of the under construction /completion property



Interest rate

The interest rate of the Green Fixed-Rate Mortgage Loan is:

Fixed for the first 2, 3 or 5 years

Fixed for 2 years
  
 From 5,30%  
Fixed for 3 years
  
 From 5.50% 
Fixed for 5 years
  
 From 6.00%  


Then, variable rate based on the Euribor 1M plus a spread. You receive a discount off the spread depending on the energy class of your home:

ENERGY CLASS ICE & A+ A B+
SPREAD DISCOUNT
  
- 0,35 %		  
- 0,30%		  
- 0,25%
(4% minimum final spread)


Interest rates are also subject to the Law 128/1975 levy. Today it stands at 0.12%.



Loan term

Up to 30 years.



Grace period

We can offer grace periods ranging from 6 to 18 months for loans you take out to build, finish or buy a home being built.

 

Disbursement

Depends on the loan’s purpose:

  • Purchase – immediate disbursement of the amount, lump-sum
  • Construction, renovation, completion of works – in instalments based on the progress of works



Repayment

In monthly instalments that repay:

  • Interest, capital and premiums
  • Premiums only during a grace period
Instalments are paid automatically from your deposit account.



Early repayment option

  • Depending on the progress of the interest rates you may have to pay an added cost when repaying your capital early
  • During the fixed-rate period, you can repay all or part of the sum early at any time
  • If you plan to pay off the entire amount, an administration fee is payable in line with the Bank’s pricelist


Collateral

Collateral can either take the form of a mortgage lien on the property or a pledge of cash or securities.



Mandatory insurance coverage

  • Fire and Earthquake Insurance for the property for an insured capital equal to the cost of building the property
  • Life and permanent total disability insurance for one of the borrowers, for an insured capital equal to the approved loan limit
  • Premiums are payable each month along with the loan instalment



Insurance options

The Payment Protection Plan comes as an option. This form of insurance coverage provides compensation for:

  • Dismissal or temporary disability due to accident or illness, for full-time, private sector employees with a contract.
  • Hospital treatment and temporary disability due to accident or illness for freelance professionals, civil servants and part-time private sector employees with a contract

The compensation guarantees that:

  • Your mortgage loan instalments will continue to be paid as normal for a set period
  • Your insurance coverage will apply for the remainder of the plan, if you opt to continue it, even though you have fully or partially repaid the loan