IMS is remunerated exclusively by the financial institutions it works with. In essence, our company acts as an intermediary for the promotion of bank loans, without operating costs, as is the case with bank branches.
The resulting fee is a lump sum and it is implemented once the loan is disbursed. In fact, there is no transaction between IMS and the prospective borrowers and consequently there is no direct or indirect charge from us.
A home loan is a complex banking product. For this reason, the contribution of an experienced bank employee is crucial. Based on its 20-year and multi-leveled experience, IMS is able to guide you and offer you all the information you need to know when choosing a Bank and a financing program. Our company holds 10% of the disbursed mortgages in Greece, disburses over 60 mortgages per month and is by your side at every stage, in order to multiply and ensure the chances of success.
The purposes of the housing product in which IMS can mediate, acting as a success multiplier for your application, relate to…
- Purchase of house
- Purchase of a plot of land
- Construction / completion of a house
- Property repair
- Coverage of personal needs
- Purchase of house and repair
- Purchase of land and construction
Your income, your creditworthiness and the collateral value (real estate promissory note or cash collateral) shall determine the amount of the loan. In the event of pre-notation of a residence, the loan amount can sum up to 85% of the estimated value of the property, as defined by the bank engineer.
From the expression of interest by the prospective borrower up to the happy outcome of the disbursement, there are seven basic steps, through which the trained associates of IMS will guide you safely, consistently and with full knowledge of the procedures…
- Mortgage application
- Financial pre-approval
- Legal – technical inspection
- Final approval
- Property prenotation
There are basically three options: For your mortgage you can choose a fixed interest rate, which remains unchanged for an agreed period of time or a floating interest rate, which is linked to the Euribor rate plus a spread, which remains fixed throughout the period of the loan. There is also the hybrid interest rate, which is fixed for some years at first and floating for the rest of the years (for example, in the first 3 years the interest rate will be fixed and for the rest of the years floating).
The repayment period is formed by three determining factors that the involved parties meet: Those that are proportionally and occasionally taken into account are…
- The selected program
- The age
- The financial possibilities
The expiration date of the loan cannot exceed the 75th year of age of those involved!
Mortgage costs are classified into two categories and relate to…
- The administrative costs of the bank, which include legal fees, technical inspection and lawyer fees for consent and prenotation purposes. These are predetermined lump sums depending on the bank, regardless of the loan amount.
- The prenotation fees, which include the fees and rights of the mortgage office / cadastral office, as well as the costs of issuing a cadastral diagram. These are lump sums depending on the loan amount, regardless of the bank releasing the loan.
A very serious detail that prospective borrowers should know is the mortgage premiums. In case an insurance option is available with prenotation of mortgage, the earthquake and fire insurance on the property automatically becomes mandatory. In case of damage due to these risks, the insurance shall cover the restoration of your property.
The cost of home insurance is proportional to the construction cost of the collateral property and not to the loan amount. An indicative insurance cost is 1.1€/sq.m. Optionally, an additional life insurance can be obtained regarding the loan, which will cover the borrower’s family for loss of life, but also for permanent and total disability.
The monthly installment you pay at the bank may no longer be ideal for you. At IMS we know perfectly well the programs offered by the banks, as well as the policy of each one of them on this issue; thus, we are able to help you find the ideal solution for you. During the repayment of your mortgage, in case of a change in your income, you have the opportunity to reduce or increase the amount of the installment or even skip one installment each year.
Full or partial repayment during a fixed interest rate incurs costs. On the contrary, during a floating interest rate this can be done without repayment costs. To all housing loans a contribution of Law 128/75 is added, which amounts to 0.12%.
With the financial pre-approval, you can be officially informed by the bank about the amount you can be financed with, but also about the monthly installment that you will have to pay, so as to look for a property. In this way you essentially increase the chances of acquiring the property of your choice, knowing, on the one hand, the level of the real estate prices you can search for, while, on the other hand, you do not have to waste time in submitting for evaluation mortgage applications and proceed immediately to the inspection of the property.
The trust we have built over time in the relationship between IMS and the borrowers, is a cornerstone for our success in the field of mortgages. The same goes for our relationship with credit institutions, which is based on ensuring banking secrecy in relation to the contracts we have entered into. Reliability, absolute compliance with the commitments and full assumption of responsibility by our company guarantee that we fulfill all the commitments we undertake. Our broader policy is based, among other things, on the observance of the General Data Protection Regulation (GDPR – 2016/679), as it has been defined by the European Union since 25/05/2018.
You can contact us by calling IMS (09:00-17:00) or by filling out the contact form on our website to arrange an appointment with one of our Advisors. Next, we will help you choose the mortgage program that suits your financial profile and needs. The meeting with our specialized team can take place at the offices of IMS, as well as at a place of your choice, by appointment, even in the afternoon (that is, after 17:00).
Why Choose Us…