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Required documents for an application for a housing loan
Photocopy of the applicant's and guarantor's passport (photograph and personal information pages)
A bank reference letter form the applicant's bank abroad
Documents verifying applicant's and guarantor's income.
If the applicant is employee:
Copies of last 3 months salary advices
Copy of last year's tax clearance
If the applicant is self-employed or owner of a company:
Certificate from the accountant
Company's final accounts
Copy of last year's tax clearance


 
Copies of applicant's Bank Statements for the last three months
Verification of applicant's permanent address (i.e. copy of telephone bill etc.)
Copy of the sales agreement
Copies of the payments made by the applicant for the purchase
Declaration by person of family and financial facts
Permission from the District Officer for the purchase of the property
Open and activate an account in the currency of the requested loan with a minimum deposit of the equivalent of CYP100
Tick the offered collaterals:
Letter of guarantee
Mortgage on the property
Assignment of purchase of contract
Assignment of life insurance
Personal Guarantees
 
   
 

Investment packages provided by DNA.

  • Discount on listed price before vat for single and multiple purchases, between 5% and 10%.
  • Fantastic mortgage rates available with 4.4% interest only for 2 years
  • Guaranteed rent available for 2 years on all multiple purchases
  • Free management service for 1 year, including rent collecting,  banking, monthly inspection visits and handling all queries the tenant may have.
  • FREE White goods and furniture packages on all purchases

Option 1:

2 bed apartment Tulipa
Cost before vat €187,946
5% discount of €9,397
Sale price is €178,549 +vat @ 15% = €205,331
Deposit of 20% = €41,066
Mortgage of €164,265 @ 4.4% interest only. Payments of €602 per month.
Guaranteed rent of €726 per month with one year free property management.

Summarise:
€41,066 invested
€1488 profit on rents for 2 years guaranteed
10% growth per annum for the two year investment option of €43119
Total invested €41,066   Return on investment €44,607

Interest rate quoted is a variable rate and is subject to change.

Option 2:

Multi Purchase:

2 Bedroom Tulipa Cost before Vat. €187,946
2/3 Bedroom Rosa Cost before Vat. €256,290
                                                           Total  €444,236

10% Discount of €44,423. Balance of €399,812 + Vat @ 15%
Sale price for Tulipa and Rosa is €459,784 Inc Vat.
Deposit of 40% €183,913 leaves balance of €275,871
Mortgage rate of 4.4% interest only for 2 years for €275,871 is €1,011 per month.
Guarantee rent of €726 for Tulipa and €810 for Rosa totalling €1,536 per month.

Summarise:

Total Invested: €183,913
Guaranteed rent for two years for Tuilpa and Rosa Totalling €12,624.
10% Growth per annum for the 2 year investment plan of €96,554.
Investment of €183,913
Return on Investment €109,178.  60% return.