Yes. Greek banks lend to foreign buyers and to people who live abroad, and at least two of them name the purchase of a plot of land as an eligible purpose. Expect to fund a larger share yourself than a Greek buyer would: published limits for foreigners are 65% to 70% of the property's value at the banks we checked, with shorter terms of 15 to 20 years.
This guide is general information, not financial or legal advice. Bank terms change often, so confirm every figure with the bank before you rely on it. It is part of our guide to buying land in Kefalonia.
Can a foreigner get a mortgage from a Greek bank?
Yes. You do not need to be a Greek citizen. Eurobank runs a mortgage for non-residents, and Alpha Bank has one for foreigners living in EU and non-EU countries. Piraeus Bank publishes document lists for residents abroad.
What changes for a foreigner is the size and length of the loan, not whether you can apply. The banks set different limits by citizenship (Eurobank) or by country of residence (Alpha Bank).
Can the loan pay for a plot of land?
At some banks, yes. Eurobank's non-resident mortgage lists "buying a home, holiday home or plot of land", and its general mortgage terms list the purchase of a home or a plot. Piraeus Bank also lists the purchase of land among its mortgage purposes. Alpha Bank's page for foreigners mentions buying, renovating or completing property, but not land on its own, so ask before you apply.
Two points matter for land in Kefalonia:
- The bank values the plot itself. An independent engineer or appraiser sets the commercial value, and the loan is a percentage of that value, not of the asking price. For a purchase, the loan cannot exceed the price in the contract.
- The plot becomes the collateral. The bank registers a mortgage pre-notation on it after a legal and technical check. A plot with unclear title or access will struggle here, for the same reasons it struggles at the notary. See inside vs outside the town plan for what makes a plot buildable.
If you plan to build, ask for a construction loan paid out in stages. Eurobank says a loan for building or renovating can reach up to 100% of the costs, released as the works progress.
How much will a Greek bank lend a foreign buyer?
These are the published terms at three Greek banks in October 2026. They are the banks' own figures, not offers.
| Eurobank (non-resident mortgage) | Alpha Bank (mortgage for foreigners) | Piraeus Bank (mortgage for income in GBP, USD or CHF) | |
|---|---|---|---|
| Who it is for | Anyone; terms depend on citizenship | Residents of EU and non-EU countries | Residents of the eurozone, Greece, Switzerland, England or the USA with income in CHF, GBP or USD |
| Land purchase listed | Yes | Not mentioned | Yes |
| Maximum loan | 65% of value for non-Greek, non-Cypriot citizens (80% for Greek or Cypriot citizens) | 70% for non-EU residents, 80% for EU residents | Up to 80%, depending on purpose, residence and income currency |
| Maximum term | 15 years for non-Greek, non-Cypriot citizens | 20 years for non-EU residents, 25 for EU residents | Up to 35 years |
| Minimum loan | €10,000 | €15,000 | €20,000 |
| Age at the end of the loan | Up to 75 | Up to 75 | Up to 75 |
| Starting fixed rate shown | From 2.90% (3 years fixed) | From 2.70% | From 2.60% |
All three lend in euros. If you earn in pounds or dollars, your monthly payment in your own currency will move with the exchange rate. Piraeus Bank's product lets you convert the loan once to GBP, USD or CHF.
What does a Greek mortgage cost on top of the interest?
Beyond the interest rate, budget for set-up costs. Eurobank's general terms, dated 29 September 2026, give these examples:
- Legal and technical check: €750, carried out by the bank's partner lawyer and engineer.
- Registration of the pre-notation: 0.8% at a Land Registry office or 0.9% at a Cadastre office, plus a fixed €32. It is calculated on the pre-notation amount, which is registered at 120% of the loan.
- Certificates and other charges: from €383.
- Levy under Law 128/1975: 0.12% a year added to the interest rate for a home, or 0.60% for property bought or built to rent out. Alpha Bank and Piraeus Bank quote the same levy.
As an example, on a €100,000 loan the pre-notation would be registered at €120,000, so a 0.9% registration fee would be €1,080 plus €32. Your bank confirms the final costs in its approval.
Fire and earthquake insurance on the property is mandatory at all three banks for the life of the loan. Eurobank and Alpha Bank also require flood cover. Eurobank and Piraeus Bank allow early repayment, in part or in full, at no charge.
These costs come on top of the costs of the purchase itself: transfer tax, notary, land registry and lawyer. See the cost of buying land in Greece.
What documents does the bank ask for?
Each bank has its own list, so ask for it at the start. The banks' pages mention:
- passport or ID;
- proof of income: Alpha Bank asks for the last three years and the last two payslips, or three years of accounts if you are self-employed;
- tax returns or tax clearance from your country of residence (Piraeus Bank asks for the last two years);
- a credit report from your country, such as Experian and TransUnion reports for US residents at Piraeus Bank;
- proof of savings and investments;
- documents in English or Greek, or officially translated into Greek.
You will also need a Greek tax number (AFM) to buy property at all. Alpha Bank requires an account with the bank before the loan.
Do I have to be in Greece to sign?
Not always. Eurobank says that non-Greek citizens, and anyone who cannot stay in Greece through the process, need a lawyer registered with a Greek bar association to act as their proxy. Alpha Bank lets existing customers who live abroad apply through a lawyer with a notarised power of attorney in Greek, on the bank's template.
You can give the same lawyer a power of attorney for the purchase. Ask them to check that the two powers of attorney cover both the purchase contract and the loan.
Houses in Skala, in south-east Kefalonia. Photo: Matti, CC BY-SA 3.0, via Wikimedia Commons.
What are the steps, and in what order?
- Ask for pre-approval before you commit to a plot. Eurobank lets you apply before you choose a property. Alpha Bank gives two months to find one after approval.
- Agree the plot, subject to finance. Ask your lawyer how to protect yourself if the bank's valuation comes in below the price.
- The bank values the plot and checks its title. The loan is a percentage of the bank's value, so a low valuation means more of your own money.
- Study the binding offer. Under Greek mortgage credit law (Law 4438/2016), you have a reflection period of 10 calendar days, and you cannot accept the offer before 5 calendar days have passed. The offer stays binding on the bank during that period.
- Sign the purchase and the loan. The bank registers its pre-notation on the plot and pays the seller.
Should I borrow in Greece or at home?
That depends on your situation, and on what your own bank offers. A Greek mortgage is secured on the Greek plot and paid in euros. A loan at home may be in your own currency, but it is usually secured on property there. Compare the total cost and the currency risk with an adviser in your own country.
When you are ready, browse plots on the Kefalonia land for sale page. On PlotX, buyers pay a 1% platform fee and sellers pay nothing.
Frequently asked questions
Can a non-EU citizen get a mortgage in Greece? Yes. Alpha Bank lends to non-EU residents up to 70% of the property's value over up to 20 years. Eurobank lends to non-Greek, non-Cypriot citizens up to 65% over up to 15 years.
Will a Greek bank finance the purchase of a plot of land? Eurobank and Piraeus Bank list the purchase of a plot or land as a mortgage purpose. The bank values the plot and registers a pre-notation on it.
Do I need a Greek bank account? Alpha Bank requires an account with the bank before the loan. Ask your bank, and your lawyer, what they need for the payment.
How long do I have to consider the loan offer? Greek law gives a reflection period of 10 calendar days, and you cannot accept before 5 calendar days.
Can I repay a Greek mortgage early? At Eurobank and Piraeus Bank, yes, in part or in full, at any time and at no charge.
Sources
- Mortgage loan for non-residents — Eurobank
- Mortgages in Greece made easier, brochure — Eurobank
- General information on mortgage loans, 29 September 2026 — Eurobank (in Greek, PDF)
- Mortgage loan for foreigners — Alpha Bank
- Mortgage loan in EUR as a foreign currency — Piraeus Bank
- Reflection period, Law 4438/2016 art. 13 — taxheaven (in Greek)
- Cover photo: Kefalonia landscape (8146960051).jpg, Berit from Redhill/Surrey, UK, CC BY 2.0, via Wikimedia Commons.
