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 mortgage broker can help you finance your dream Greek 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.
Download the Greece Buying Guide
Contents
- How common are mortgages in Greece?
- Why use a mortgage broker in Greece?
- What to look for in a mortgage broker
- Language barriers and translation
- When to contact a broker
- Broker fees explained
How common are mortgages 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 process in Greece can be unfamiliar and underutilised, having a knowledgeable broker on your side could save time, stress and money. Here’s how they can help:
| 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 |
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.
Check that your broker has experience with overseas buyers
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.
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
Search property for sale in Greece
Broker fees explained
Mortgage broker fees in Greece vary, but generally fall into two models:
- Commission-based: The broker is paid 1-2% of the loan amount by the lender, once your mortgage is approved.
- Flat-fee: Some brokers charge upfront fees ranging from a couple of hundred to a few thousand euros, depending on the complexity of your case and their level of involvement.
Always clarify fee structure upfront and ask whether their interests are aligned with yours – a good broker will be transparent from the start.
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.
You might also like:
