If you are interested in Cyprus construction loans and need information on good authority, here’s a piece of writing to help you out!
To begin with, it is all right to search on the internet and then contact various construction and loan advisers as a help towards an understanding of interest rates, payment period, application procedure and more. Cyprus construction loans are available in all the major cities.
Features & terms
Once you think one of the financial agencies can be accepted, you will need to read features and terms of their customized construction loan program. A reliable loan agency should offer you the following terms and features.
- One year terms
- 24 draw procedure
- Around 95 percent LTV of appraised value
- Fixed interest rate
- 100% funding
- Local underwriting
- Construction loan along with permanent financing
- Specific forms for all unincorporated subs and suppliers
- Each payment contains mechanic lien waivers