Loans for property auctions
The banking market is already offering immediate liquidity for the purchase of property at auction through new “housing” products already on the market. They enable anyone interested in acquiring a property through the Eauction.gr platform to obtain financing at short notice.
Kathimerini understands a large systemic bank has already promoted the product to the market, while all other banks are expected to follow soon. Auction lending is provided both to individuals wishing to buy a property for themselves or for investment, and to companies which want to buy an industrial property, a tourism unit or a shop for commercial use.
Loans for the purchase of a home by individuals at auction have the same characteristics as a mortgage (interest rate, terms etc), except that the legal and technical inspection of the property will be done without delay and within a period of a few days.
Accordingly, the evaluation of clients will be carried out immediately with the aim of certifying their solvency, disbursing the amount for the purchase of the property 10 days after confirmation is given to the interested party.
