Green Euribor Mortgage Loan

A mortgage loan to buy, build, renovate or finish a low energy-consumption home. The interest rate is variable based on the Euribor 1M plus a fixed spread for the whole duration of the loan, which depends on the energy class of the home.
INTEREST RATE
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
  • Discounted rate depending on the energy class of the home
  • Zero evaluation application costs
INTEREST RATE
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
  • Discounted rate depending on the energy class of the home
  • Zero evaluation application costs

5 more reasons to get a Green Loan

 1.  Lower interest rate during the floating rate period, as long as the house belongs to one of the following energy efficiency categories: MEK, A +, A, B +.



 2.  Zero loan expenses

We reward your decision to choose a green home and offer you the Green Mortgage Loan with zero loan approval fees.


 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 Euribor 1M Green 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

Variable rate based on the Euribor 1M plus a spread. You receive a discount off the spread since the home belongs to one of the following energy efficiency categories: MF, A +, A, B +.

The interest rate of the loan is formed upon evaluation of your loan application by the Bank in accordance with its credit policy, taking into account factors such as customers’ credit history, the collateral, the loan amount and loan duration.



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


INDICATIVE EXAMPLE

For a loan amount of € 100,000, maturity of 20 years, floating interest rate of Euribor 1M (-0.47% on 18/10/2019), plus margin of 3.35% (plus l. 128/75, 0.12% levy), Inquiry Cost: € 350, cost of legal checks: 50 €, cost of technical checks: 130 €:

Total Credit Amount: 100,000 €
Total Credit Cost: 33,664.77 €
Total Amount to be paid: 133,664.77 €
APR: 3.10%

The APR was calculated using the fixed rate for the entire loan duration since the floating rate is lower that the fixed.
The APR and the total amount to be paid are an example and apply only for the abovementioned data.


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 or purchase of a home being built – in instalments based on the progress of work



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

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.