Who this guide is for
This guide is written for anyone living outside Greece who is thinking about buying a home or investment property there and wondering whether a Greek bank will lend to them. It is useful whether you are:
- An Australian, British, American, Canadian, or other non-EU buyer
- An EU citizen living outside Greece
- A Greek living abroad (a Greek of the diaspora)
- Buying a holiday home, a rental investment, or a future retirement base
You don't need any prior knowledge of Greek property or finance — every term is explained as we go.
Key takeaways
- Yes, non-residents can borrow. Greek banks lend to overseas buyers, though the rules are stricter than for locals.
- Expect to borrow roughly 65%–80% of the value, so plan for a deposit of around 20%–35% plus costs.
- You'll need a Greek tax number (AFM) and a Greek bank account before a loan can proceed.
- Interest rates in early 2026 sit roughly between 2.8% and 4.9%, depending on the bank, the fixed-rate period, and your profile. Rates change over time.
- Loans are issued in euros (€). If you earn in another currency, exchange-rate movements affect your real cost.
- Final loan approval usually takes around 6–18 weeks. Pre-approval can be much faster once your documents are ready — generally 2–4 weeks.
- Budget about 10% of the purchase price for taxes and fees on top of your deposit.
Can international buyers really get a Greek mortgage?
Yes. There is no law preventing a foreign buyer from taking out a mortgage in Greece, and the major Greek banks all have products aimed at international customers. What changes for non-residents is the risk assessment. Because your income, credit history, and assets sit in another country, the bank takes extra steps to verify them, and it protects itself by lending a smaller portion of the property's value.
In practice this means three things compared with a local borrower: a lower loan-to-value ratio (the share of the price the bank will fund), a larger cash deposit, and more documentation. None of these are barriers — they are simply factors to plan for.
Who qualifies
Greek banks assess non-resident applicants against a fairly consistent set of conditions. To qualify you'll generally need to show:
- A stable, verifiable income large enough to comfortably cover the monthly repayment. Banks look at your household income against the loan amount.
- A clean financial history in your home country.
- Age within the bank's limit at the end of the loan. Most Greek banks require the loan to be fully repaid by the time you are 75 years old, which can shorten the term available to older borrowers.
- A Greek tax number (AFM) and a Greek bank account (covered below).
How much can you borrow?
For non-residents, the maximum loan is usually expressed as a percentage of the property's value, and it is lower than for locals. As a general guide:
| Borrower type | Typical maximum LTV | Typical deposit needed |
|---|---|---|
| Greek resident or Greek citizen abroad | Up to ~80% | ~20% |
| Non-resident (EU) | ~65%–80% | ~20%–35% |
| Non-resident (non-EU) | ~65%–70% | ~30%–35% |
Figures are general market ranges as of early 2026 and vary by bank, property type, and your financial profile.
As the table shows, non-resident lending is typically capped at around 65%–70% of the property's assessed value, though some lenders go higher — up to about 80% for certain EU buyers. The actual amount also depends on:
- Your income versus the repayment. The bank checks that the monthly payment is affordable relative to what you earn.
- The property valuation. The bank arranges its own valuation and lends against that figure, not necessarily the price you agreed.
- A technical and legal check of the property's title deeds, building permits, and plans.
The deposit you'll need
Your deposit is simply the part of the price the mortgage does not cover. If a bank lends 65% of the value, your deposit is the other 35%.
Because non-resident LTVs are lower, most overseas buyers should plan for a cash deposit of 20%–35% of the purchase price. On top of that, you also need to budget for purchase taxes and fees, which are not covered by the mortgage.
As a simple planning rule, budget around 10% of the purchase price for taxes and fees in addition to your deposit.
Documents required
Non-resident applications need more paperwork than local ones, mainly because your records sit overseas and must be verified. While each bank's list differs slightly, you'll typically be asked for:
- A copy of your passport or national ID
- Your Greek tax number (AFM)
- Proof of income — recent payslips for employees, or proof of business and income for the self-employed
- Tax returns for the last 2–3 years from the country where you file taxes
- Proof of address — usually a recent utility bill
- A credit report from your country of nationality and residency
Two practical points that catch buyers out:
- Translation and Apostille. Foreign documents not in English need to be officially translated into Greek or English. Depending on the bank, some lenders require an Apostille stamp for final approval — an internationally recognised certification that confirms a document is genuine. Arranging these early prevents delays.
- Extra documents by country. Depending on where you live, the bank may request additional items, so confirm the full list before you start gathering paperwork.
Which banks lend to non-residents
Several major Greek banks offer mortgages to international buyers. Each sets its own rates, maximum LTV, and residency rules, which is exactly why comparing them matters.
Indicative fixed rates in early 2026 ranged from about 2.8% for shorter fixed periods (3–5 years) up to roughly 4.2%–4.3% for longer terms (15–30 years), with the overall market spanning 2.8%–4.8% depending on the lender and your profile. These rates are subject to change and should be treated as a starting point for comparison, not a quote.
How long it takes
Timeframes depend on how quickly your documents come together and how complex the property's legal checks are. As a general guide:
| Stage | Typical timeframe |
|---|---|
| Pre-approval (once documents are ready) | 2–4 weeks |
| Full application to formal approval | 6–18 weeks |
| Legal and technical property checks | Runs in parallel |
The single biggest factor in your control is preparation. Gathering, translating, and apostilling your documents before you apply can turn a slow process into a smooth one. Buyers who start the paperwork late are the ones who experience long delays.
Currency considerations
This is one of the most overlooked parts of buying abroad, and it deserves real attention.
Greek mortgages are issued in euros (€). If you earn and save in another currency — Australian dollars, pounds, US dollars, and so on — two things matter:
- Your deposit transfer. When you move money to Greece for the deposit and fees, the exchange rate decides how many euros you actually receive. The headline rate you see online is the interbank rate, which is not what banks give the public. A specialist currency (FX) service often gets you closer to that rate than a high-street bank, which can save thousands on a large transfer.
- Your ongoing repayments. A euro mortgage means your monthly payment is fixed in euros, but its cost in your home currency moves with the exchange rate. If your currency weakens against the euro, your repayments effectively become more expensive — and vice versa.
Some lenders also offer foreign-currency mortgages (for example in USD, GBP, or CHF). These can reduce the mismatch if you earn in that currency, but they carry their own rules and risks. Under EU rules, lenders must give foreign-currency borrowers specific warnings and, in some cases, options to limit exchange-rate risk — so read these carefully.
The practical takeaway: factor currency into your budget from the start, and consider speaking to a currency specialist before making large transfers.
A practical example
Let's walk through a realistic scenario step by step. Maria lives in Sydney and earns AUD $180,000 a year. She wants to buy a €450,000 apartment in Athens as a holiday-and-rental home. She is a non-resident, non-EU buyer.
Step 1 — How much might she borrow? A bank offering 65% LTV would lend €292,500, leaving Maria to fund the other €157,500 as a deposit.
Step 2 — What else does she pay? On top of the deposit, Maria budgets roughly 10% of the price (about €45,000) for taxes, fees and closing costs. So she needs around €202,500 in own funds, plus a mortgage of €292,500.
Step 3 — What documents will she need? Passport, Greek AFM, an Australian credit report, two to three years of Australian tax returns, recent payslips, proof of address, and evidence of ownership or non-ownership of property in Greece. As these documents are already in English, there's no requirement to translate them into Greek. Depending on the bank, the documents may need to be apostilled for final approval.
Step 4 — How long will it take? With documents prepared in advance, Maria gets pre-approval within 2–4 weeks and formal approval within about 6–18 weeks, while the property's legal and technical checks run alongside. Final approval is provided after the bank receives the legal and technical results.
Step 5 — Currency. Because Maria earns in Australian dollars, she uses a currency specialist to transfer her deposit and watches the AUD/EUR rate, knowing her euro repayments will cost more or less in dollars as the rate moves.
Common mistakes to avoid
This is the section most readers find the most useful, so it's worth reading carefully.
- Assuming you can borrow 80%, like at home. Non-resident LTVs are far lower. Budgeting for a 20% deposit when you actually need 30%–35% is the most common and most costly mistake.
- Forgetting the purchase costs. Taxes, fees and closing costs of around 10% sit on top of your deposit and are not covered by the mortgage. Always plan for them separately.
- Leaving documents to the last minute. Translation and Apostille take time. Late submission of paperwork is the number-one cause of delays.
- Approaching only one bank. Rates, maximum LTV, and residency rules differ significantly. The bank that suits a UK buyer may not suit a US buyer. Compare before committing.
- Ignoring currency risk. Moving a large deposit at a poor exchange rate, or overlooking how rate swings affect repayments, can quietly cost thousands.
- Overlooking the age limit. If the loan must mature by age 75, older borrowers may be offered a shorter term and therefore higher monthly payments.
- Skipping the legal check. The bank's technical and legal review protects the bank. You should still get your own independent lawyer and engineer to protect you.
Ready to take the next step?
If you're planning to buy property in Greece and would like personalised guidance, get in touch with GreekHomeLoans. We'll explain your options, help you understand your likely borrowing capacity, compare the banks that suit your situation, and walk you through the next steps — clearly and without pressure.