Kleanthis Savva Developers

FINANCING YOUR PROPERTY

The information presented here is courtesy of Alpha Bank, which is categorised as a Class A bank. This means it is recognised throughout the European Economic Community as a first class banking institution. The following information is general and it applies to all housing schemes offered by the Alpha Bank except where otherwise stated.

Forms of Security

1. First Legal Mortgage on the property to be financed.

2. Bank guarantee from other bank.

3. Assignment of Sales Contract.

Plus

1. Fire, Earthquake and Other Similar Dangers Insurance Policy (Fire Insurance Policy is offered free of charge by Alpha Bank Insurance for the first year on the loan amount).

2. Assignment of Life Insurance Policy (optional).

Interest Rate Types

- For Loans in CYP: Floating interest rate based on the banks Base Lending Rate (currently 4.50%) plus margin.

- For Loans in Foreign Currency: Floating interest rate based on the 1, 3, or 6 month LIBOR/EURIBOR plus margin.

- For Loans in Foreign Currency: Fixed interest rate set by the banks Treasury Division according to the renewal period (3 or 5 years).

Total Cost to the Consumer

The total cost is adjusted according to the current Base Lending Rate, the effective margin, and the specific terms and conditions of each loan.

List of Relevant Government Charges

- Mortgage Stamp Duties: 0.15% of mortgage amount + CYP5 (EUR8.54) - [0.20% for amounts over CYP100.000 (EUR170,860.14)].

- Document Stamp Duties: 0.15% loan amount [0.20% for amounts over CYP100.00 (EUR170,860.14)] + CYP30.00 (EUR51.26).

- Mortgage Fees: 1.00% of mortgage amount.

Early Repayment

Early repayment can be effected provided prior notice of three working days is given to the bank with the following additional charges:

- For loans that fall under the Consumer Credit Act (up to 50.000 or the equivalent amount in foreign currency) the charge will be calculated based on the provision of the Act.

- For other loans the charge, if any, will be calculated based on the banks cost plus any charges arising from the early repayment of the loan.

Property Valuation

A valuation of the immovable property is effected by an approved valuer of the bank. The valuation expenses will be borne by the customer.

K. Savva » Financial Information

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