In Greece, cash is still king and most homes are bought without taking out a mortgage. However, it is still possible to get one – especially with the right expert on your side. Here’s how a Greek mortgage broker can help you finance your dream home with confidence.
Securing a mortgage in Greece can be anything but straightforward. Unlike in the UK, most property sales in Greece happen without a loan. Still, for overseas buyers who prefer not to tie up all their savings, mortgages are available through a handful of Greek banks. The key is finding a broker who knows the system inside out. In this guide, you’ll learn how to find a trustworthy mortgage broker in Greece, what they actually do and when to get them involved in your buying journey.
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Contents
- How common are mortgage brokers in Greece?
- Why use a mortgage broker in Greece?
- What to look for in a mortgage broker
- What lender fit looks like – and what to ask
- Language barriers and translation
- Document readiness: what to prepare before you apply
- When to contact a broker
- Broker fees explained – and what to ask
- What should I do next?
How common are mortgage brokers in Greece?
In Greece, the vast majority of property purchases – over 75% – are completed in cash, making the use of mortgages far less common than in countries like the UK. This applies to both local residents and overseas buyers.
However, that doesn’t mean mortgages are off the table. Major banks such as Eurobank, Piraeus Bank and Alpha Bank do offer home loans to international buyers, particularly those with stable income and good credit history.
Why use a mortgage broker in Greece?
Because the mortgage market in Greece is thin for overseas buyers, having a broker who works in this space regularly – rather than occasionally – makes a material difference. They know which lenders are currently accepting non-resident applications, what criteria those lenders are applying, and how to present your income documentation in a way Greek underwriters will accept.
| Service | What this means | Why it helps |
|---|---|---|
| Assessing your profile | They evaluate your income, debts and affordability | Saves time and narrows your mortgage options |
| Access to lenders | They work with multiple Greek banks | Increases your chances of finding a better deal |
| Negotiating terms | They can secure better interest rates or fees | You benefit from insider knowledge and advocacy |
| Document preparation | They guide you through Greek bank requirements | Reduces the risk of delays or rejection through incomplete paperwork |
Where broker help adds most value is when your income is complex – self-employed earnings, rental income, pensions from multiple sources or foreign currency income. Standard applications that look straightforward on paper can still stall at the documentation stage if you’re unfamiliar with what Greek banks expect. A good broker knows what each lender needs and helps you compile it correctly the first time.
What to look for in a mortgage broker
When buying overseas, finding a broker with the right experience makes all the difference. Here are the must-haves when searching for a Greek mortgage broker:
- Official credentials: ensure they’re licensed and regulated in Greece.
- Experience with overseas buyers: ask if they’ve helped non-residents before.
- Reputation: use forums, reviews and recommendations to gauge client satisfaction.
- Transparent fees: be clear on how they’re compensated – more on that below.
What lender fit looks like – and what to ask
Not all Greek banks are equally active in the overseas buyer market. Eurobank, Alpha Bank and Piraeus Bank are the most commonly cited lenders for non-resident mortgages, but their appetite, criteria and rates can shift. A broker with a current relationship with these lenders – not just a theoretical one – is what you’re looking for.
Before committing to a broker, ask these questions directly:
- Which lenders are you currently placing overseas buyer mortgages with?
- What deposit level do Greek lenders typically require from non-residents? (Usually 30–40%, though this varies.)
- What’s the typical loan-to-value ratio on offer for foreign buyers?
- How do you handle income in a non-euro currency?
- What is your success rate for non-resident applications in the past 12 months?
The answers tell you quickly whether the broker is genuinely active in this space or is treating it as an occasional side service. You want the former.
One factor that catches older buyers by surprise: Greek banks typically require the mortgage to be fully repaid before you reach 70 or 75, depending on the lender. If you’re in your late 50s or 60s, that can cap your maximum loan term at 10–15 years rather than the standard 25 – which significantly affects your monthly repayments and the amount you can borrow. It’s worth raising your age and intended term with a broker early, before you’ve built a budget around a figure that may not be achievable.
Verification note: Lender criteria and LTV limits in Greece can change. Ask your broker to confirm current figures directly with the relevant bank before you plan your budget around them.
Language barriers and translation
While your broker may speak English, many of the documents – including the mortgage agreement – will be in Greek. That’s where an English-speaking broker becomes essential. They can:
- Explain key terms and obligations clearly
- Ensure you understand every part of the agreement
- Spot issues or clauses that could affect your ownership or repayments
It’s best not to rely on translation apps for this step – clarity is everything when it comes to borrowing money.
Document readiness: what to prepare before you apply
Greek banks require thorough documentation, and missing paperwork is one of the most common causes of delays. Getting your documents in order before you approach a broker – or at least at the same time – keeps the process moving.
You’ll typically need:
- AFM (Arithmos Forologikou Mitroou) – your Greek tax identification number. You’ll need this before you can open a Greek bank account or progress a mortgage application. Your lawyer or broker can help you get one early in the process.
- Passport (certified copy).
- Proof of address (recent utility bill or bank statement).
- Last three years’ tax returns or equivalent proof of income.
- Last three to six months’ bank statements.
- Proof of deposit funds (and their source, for anti-money-laundering purposes).
- Employment contract or accountant’s certificate if self-employed.
- Credit report from your home country.
If any income comes from rental properties, pensions or investments, have supporting documentation ready for those too. Your broker will give you a tailored checklist once they’ve assessed your profile, but arriving prepared significantly speeds things up.
When to contact a broker
Don’t wait until you’ve fallen for that hillside villa or island apartment. Speak to a broker before you start viewing homes. This helps you:
- Understand what budget you’re working with
- Get a decision in principle (mortgage pre-approval)
- Present yourself as a serious buyer to Greek estate agents
Speak to a Greece property expert
Broker fees explained – and what to ask
Mortgage broker fees in Greece vary depending on how the broker operates and the complexity of your case. Two models are common:
- Commission-based: the broker receives a fee from the lender – typically 0.5–1.5% of the loan amount – once your mortgage completes. You pay nothing directly, but it’s worth understanding that commission arrangements can influence which lenders a broker prioritises.
- Flat fee: some brokers charge a fixed fee for their service, ranging from a few hundred euros for a straightforward case to several thousand for complex non-resident applications. This is more common with brokers who specialise in international buyers.
Some brokers use a hybrid model – a modest upfront fee to cover initial work, with a commission paid on completion.
Before you engage anyone, ask:
- Are you paid by the lender, by me or both?
- Does your commission vary between lenders?
- Is any fee refundable if my application is unsuccessful?
- What does your service include – just placing the mortgage or full case management through to completion?
Transparency on fees is a reasonable thing to expect from the outset. A broker who hesitates to answer these questions clearly is worth approaching with caution.
Final thoughts
Mortgages may not be the norm in Greece, but with the right broker, they are absolutely possible. Being mortgage-ready will make your property search smoother, faster and far less stressful.
What should I do next?
If you’re planning to finance a property in Greece, the best time to speak to a broker is before you start viewing seriously. Getting a decision in principle gives you a realistic budget, and it signals to Greek estate agents that you’re a prepared buyer.
Find a mortgage broker for Greece on our experts directory
Download the Greece Buying Guide for a full breakdown of the buying process
See what buying property in Greece costs including taxes, notary fees and legal costs
Read our guide to buying property in Greece for the end-to-end process
Mortgages may not be the norm in Greece, but with the right broker they are absolutely achievable. Being financially prepared before you start viewing makes your search smoother and your offer more credible.
FAQs about finding a mortgage broker in Greece
Yes, though the market is more limited than in the UK. Major banks including Eurobank, Alpha Bank and Piraeus Bank offer home loans to non-residents, but criteria are stricter. You’ll typically need a deposit of 30–40%, a stable and well-documented income, a good credit history and full paperwork from the outset. Working with a broker who has active relationships with these lenders is the most reliable route.
Most lenders require a minimum deposit of 30–40% for non-resident buyers, meaning a loan-to-value ratio of 60–70%. Some lenders may go higher depending on your profile and the property. Your broker should be able to tell you what each lender is currently offering and which best fits your situation.
It’s more challenging than in the UK, primarily because fewer lenders actively serve non-residents and the documentation requirements are significant. The process tends to move slowly by UK standards. Incomplete paperwork, income in a foreign currency or complex self-employment income can all cause delays. A specialist broker reduces these risks considerably.
Most brokers are paid either a commission from the lender (typically 0.5–1.5% of the loan on completion) or a flat fee, which varies by complexity. Always ask upfront how the broker is paid, whether their fee varies between lenders and what their service includes. Clear answers on these points are a good indicator of how a broker operates.
Timelines vary, but non-resident mortgage applications in Greece typically take longer than domestic ones – often two to three months from application to offer, sometimes more. Slow document processing and lender capacity are the most common causes of delay. Starting the process early – ideally before you’ve made an offer – gives you the best chance of keeping your purchase timeline on track.
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