Renovate the home you love
Renovation loan, no security needed
Up to €25,000 with no charge on your home. For larger works, a loan secured on the property at a mortgage rate.
What can it pay for?
Anything that makes your home nicer, more comfortable or cheaper to run.
A new kitchen
Cabinets, worktops and appliances.
Bathroom renovation
Tiles, fittings, a new shower.
Windows and doors
Energy-efficient windows, front door, interior doors.
Insulation
External insulation, roof terrace, roof.
Heating and cooling
Heat pump, air conditioning, boiler.
Solar panels and water heater
Less power from the grid, lower bills.
Floors and painting
Wooden floors, tiles, paintwork.
Plumbing and electrics
New pipes, fuse box, wiring.
With or without security
For most renovations a loan with no security is enough. For major works, securing it on the home gets you a larger amount and a lower rate.
No security
- Up to €25,000, with no charge on your home
- Quick approval, with few documents
- No permit, engineer's budget or valuation needed
- The whole amount is paid into your account at once
Secured on your home
- A mortgage rate, fixed or floating
- A larger amount, based on the budget and the home's value
- A long term, so a smaller monthly payment
- A lower rate for energy-efficiency works
The documents
We tell you up front exactly what will be asked for, so no time is lost.
No security
Just the basics:
- Police ID card or passport
- Tax return (E1) and assessment for the last year
- Your latest payslips or pension statement
- A utility bill as proof of address
Secured
All of the above, plus:
- A budget for the works, signed by an engineer
- A building permit or small-scale works approval (ΕΕΜΚ)
- Title deeds and a Land Registry (Κτηματολόγιο) certificate
- An engineer's certificate that the property is legal
- An Energy Performance Certificate (ΠΕΑ)
The banks
We work with the banks that have a programme for each case.
No security
Frequently asked questions
Can I get a renovation loan with no security?
Yes, up to €25,000. There's no charge on your home, no valuation and no works permit, and approval is quick. The rate is higher than a secured loan's and the term shorter.
When is a secured loan worth it?
When the works cost more than an unsecured loan covers, or when you want a smaller monthly payment. Secured on your home, you get a mortgage rate and a term of many years.
How much can I borrow?
With no security, up to €25,000 depending on your income. Secured, the bank looks at the budget for the works, the home's value and your income. Either way, the monthly payment, together with your other commitments, has to fit within a share of your net income.
Do I need a permit for the works?
Not for an unsecured loan. For a secured loan the bank will ask for a small-scale works approval (ΕΕΜΚ) from e-Adeies, issued by your engineer, or a building permit for larger works.
What paperwork is needed?
With no security, just your ID and income documents. Secured, the bank also asks for an engineer's budget for the works, a permit or small-scale works approval (ΕΕΜΚ), title deeds and a Land Registry certificate, a legality certificate and, for energy upgrades, an Energy Performance Certificate (ΠΕΑ). We tell you up front exactly what will be asked for.
How is the money paid out?
With no security, the whole amount goes into your account once approved. Secured, the bank pays in stages as the works progress, once its engineer has checked what's been done. Allow for this when you agree payments with your contractor.
What costs are there besides the interest?
With no security, usually just an arrangement fee. Secured, add the property valuation, the cost of registering the charge, and home insurance for fire and earthquake. We'll give you the total before you commit.
Is there a better rate for energy upgrades?
Yes. For works that improve energy efficiency, such as insulation, windows, a heat pump or solar panels, the banks have «green» programmes with a lower rate.
Can I combine it with a subsidy such as «Exoikonomo»?
Often yes, while the subsidy programme is open. The loan covers the part that isn't subsidised. Tell us up front if you've applied to a programme so we can take it into account.
The home already has a mortgage. Can I still get a renovation loan?
Yes. With no security, the mortgage simply counts towards your commitments. Secured, it needs a second charge on the property, if its value and your income allow.
Start your renovation
Apply in a few minutes. We'll compare the banks and tell you what suits your works best.