Foreigners can get a mortgage loan to buy property in Cyprus. There are two main banks that work with mortgage lending: Bank of Cyprus and Hellenic Bank. Typically, the loan is up to 70% of the value of the property. Interest rate - 1.5-3%.
A loan cannot be obtained if the seller does not have a title (Title Deed) when buying a secondary property. Also, the loan is not issued to persons over 60 years of age and must be repaid before the applicant reaches the age of 60. Before obtaining a loan, the applicant is required to insure life.