A complete guide to your dream home by Bank of Cyprus

From dream to reality – unlocking the future with the support of innovation and a streamlined access to financingHome ownership as a pillar of social stability Owning a home has long been one of the most important elements of economic and social security in Cyprus. For many families, a house is not just a property; it is the foundation of everyday life, a legacy for their children and proof of financial progress. However, today’s reality has changed. The rising cost of living, fluctuations in interest rates and the complexity of procedures make purchasing a home a demanding process that requires proper preparation, information and strategy. In this environment, Bank of Cyprus is introducing a new era of digital service, offering tools that transform a multi-step and often unclear process into an organised and transparent experience. The digital transformation of the banking experience Your Home Hub: The digital advisor for today’s homebuyer Bank of Cyprus has created Your Home Hub, a digital platform that brings together all the essential information and tools needed by a prospective homebuyer. The platform serves as a reference point for anyone wishing to understand the process steps, estimate loan instalments, compare financing options, receive specialised guidance and seamlessly proceed with an application via the innovative Digital Housing Loan application available in the Bank’s Internet Banking and Mobile App. At the same time, the human aspect remains central. Customers can book appointments with specialised advisors to receive tailored support, especially in more complex cases. Your Home Hub is a comprehensive platform offering everything a buyer needs to proceed with confidence, including: • Detailed loan repayment calculators• Information on all purchase-related costs• Guidance on required documentation• Updates on process stages• Access to information on loans, insurance, and services • Direct links to proceed with a Digital Housing Loan application (for your First, Green or Holiday Home) offering fast-track processing with a response within 24 hours This initiative forms part of a broader strategy to empower individuals to make more informed, responsible and sustainable financial decisions. Proper preparation before taking out a housing loan not only protects the consumer but also strengthens overall market stability. Strategic planning before purchase How to choose the right mortgage for your needs The decision to buy a home is one of the most important steps in life. Among the available mortgage options, the right one for you is not just financing – it is the foundation on which you will build the next chapter of your life. If this is your first home, consider options for a First Home Mortgage or a Green Home Mortgage, designed to support your new beginning with stability and flexibility.If you aim to upgrade your quality of life, consider options for a holiday home or renovation, and choose the solution that offers greater comfort, functionality, and well-being. Before proceeding, it is important to understand what to look for and how to evaluate your options correctly. 1. What you need to know before starting Before starting the application process, make an honest assessment of your finances:• What is your net monthly income?• How much do you have available for a down payment?• How comfortable are you with a long-term financial commitment? A clear understanding of your budget will help you proceed with confidence and realism. 2. Main types of mortgages Mortgage types mainly differ based on their purpose (first home, holiday home, land purchase for construction, renovation, or investment). Bank of Cyprus offers solutions for all housing needs: first home, holiday home, land purchase, renovation, or investment. Additionally, “green” homes benefit from more favourable terms. Choose your repayment plan by selecting the interest rate that suits you: • Fixed interest rateThe interest rate and your monthly instalment remain stable for a set period or the entire loan duration, allowing better budgeting and financial planning. • Variable interest rateThe interest rate consists of base plus margin and it is linked to market indicators that may change over time (upwards or downwards), thereby affecting your instalment which may increase or decrease. This may offer benefits when interest rates decrease but also carries the risk of increases. 3. Factors affecting your decision The right choice depends on your financial situation and future plans. Income and monthly instalmentThe instalment should fit comfortably within your budget. You must allow for daily expenses, savings and unexpected needs. Repayment periodA longer duration usually means lower monthly payments but higher total interest, while a shorter duration results in higher payments but faster repayment. Tolerance to future interest rate changesIf considering a variable rate, assess your ability to manage potential increases. Benefits that may support your decisionWhen assessing your mortgage options, consider benefits that may help reduce the overall cost of financing. For energy-efficient homes, the Green Loan may offer more favourable interest rate terms, while participation in the “pronomia” Loyalty Scheme may provide additional discounts on interest and insurance, subject to the applicable terms and conditions. 4. How to compare your options Look beyond the interest rate and consider:• The Annual Percentage Rate (APR)• Loan duration• Any fees or charges that might be incurred• Early repayment flexibility• Additional benefits (discounts, reward schemes, etc.) 5. Tips for the best choice • Take time to compare options• Choose a solution that fits your lifestyle and financial situation• Consider your future plans – family, career changes, new goals• Consult a specialised advisor 6. FAQs Fixed or variable rate?It depends on your financial profile. Fixed rates provide stability, while variable may benefit from low-rate periods but can increase. There are also loan schemes that combine both options, offering a fixed rate for a set period, followed by a variable rate. Can I repay early?Yes, but terms and charges may apply. Overview of loan solutions First home mortgage• Up to 80 per cent financing• Up to 35 years duration• Various interest rate options and structured repayment plans• No arrangement and documentation fees Green mortgage• Up to 80 per cent financing for your first home and 70 per cent for holiday home• Up to 35 years duration • Up to 0.20 per cent lower rates during the variable interest rate period• No arrangement and documentation fees• Greater house energy efficiency Holiday home mortgage• Up to 70 per cent financing• Up to 35 years duration• Various interest rate options and structured repayment plans Renovation and energy upgrade loansSupport for home improvements, refurbishments and energy upgrades – from property enhancements and insulation to photovoltaics, heating/cooling upgrades and other improvements that can help make your home more efficient and comfortable-). • Up to 80 per cent financing for your first home and 70 per cent for holiday home • Up to 35 years duration• Various interest rate options and structured repayment plans Investment mortgagePurchase a house for investment / rental purposes:• Up to 60 per cent financing • Up to 20 years maximum loan duration• Repayment based on expected rental income QuickLoans for your new home needs Even after securing your home, additional expenses may arise, whether for household purchases, furnishings, appliances or other personal needs. Bank of Cyprus QuickLoans offer financing from €500 up to €15,000, without arrangement and documentation fees, helping you cover everyday or unexpected expenses related to your new home. Customers can apply online, without guarantees, and receive a response through the digital process. Where applicable, the digital signature option is also available, reducing the need to visit a branch. If your new home needs also include a car, Bank of Cyprus QuickCar Loans are digitally available for amounts from €2,500 up to €50,000 for a new or green car, subject to the applicable eligibility criteria and terms. Protecting your home: A key pillar of financial planning Home protection is an important element of everyday security, especially in an environment where the unexpected can affect both the home itself and people’s quality of life. Genikes Insurance home insurance plans have been designed to offer different levels of protection, allowing each household to choose coverage according to its needs. Basic cover includes incidents such as fire, lightning and explosion, while there is also the option to extend coverage to natural events such as earthquakes, storms, and floods. Beyond the basics, more enhanced plans cover a wider range of risks related to the everyday use of the home. Damages from malicious acts, water or fuel leaks, as well as third-party liability, are included in a comprehensive protection framework that extends beyond the property itself. At the same time, benefits such as compensation based on replacement value and coverage for temporary accommodation expenses or loss of rent enhance the practical value of insurance under real-life conditions. At the same time, services such as 24-hour technical support for emergencies help turn insurance into a practical everyday support tool. Through this comprehensive approach, home insurance takes on a more meaningful role in maintaining the stability and peace of the household. More information about the available plans is available on the Genikes Insurance website: Visit Genikes Insurance. Why Bank of Cyprus is the ideal partner Choosing a partner for your home journey means having access to guidance, information and solutions that reflect your housing needs and financial profile. Your home is your foundation and your legacy. Through the “Book an Appointment” platform, you can discuss your needs with specialists and find the right combination of loan and insurance. Purchasing property is a conscious decision that shapes your future. With Bank of Cyprus and Your Home Hub platform, the journey becomes more transparent. Trust the experts and enjoy every step – because homeownership is ultimately an act of devotion and stability for you and your family.