Snobby Homes in Crete | Buying property in Crete. Buy Property in Crete

NEED A MORTGAGE?

We have arrangements with major banks in Crete who have already approved and granted mortgages for many Snobby purchasers. Typically banks will grant up to 80% of loan to value, subject to status, without any hefty redemption fees.

Mortgage application in Crete is not as you know it. Firstly banks will not provide a written loan approval in principle. They will need a completed Application Form, a copy of your UK Credit Score, P60’s for the last 3 years, a utility bill and a current salary slip. All this has to be translated into Greek by the bank, before they will confirm to your lawyer - verbally - that you qualify for a mortgage.

Only once your house is complete will a bank surveyor make an inspection and give a valuation. At this stage the bank will require a current salary slip to review your application.

Documentation is then sent to Athens for loan approval.

In Greece the bank does not hold the title deeds, but goes into court to register a legalinterest on the house. For this a special Power of Attorney is required and you have to be in Crete to sign this undertaking. Please Note - on transfer of funds, your bank will make a charge to cover court, legal and administration fees of around 2,000€ incurred in setting up your mortgage. Information correct at time of posting.

HOW TO BUY A SNOBBY

Here are the four simple steps to buying your Snobby

STEP 1 Power of Attorney in Crete to appoint an independent lawyer to act on your behalf.

STEP 2 Purchase Agreement prepared which is a legal quotation confirming the price and specification of the property you are buying.

STEP 3 Within 10 days of receiving your bank account details, you transfer the deposit, which is then legally secured.

STEP 4 The remaining balance is only transferred upon completion. There are no stage payments.

Even if you are just considering a property, and not yet certain whether you’ll buy, it makes sense to appoint a lawyer while you are in Crete - just in case - as you cannot pick up a ‘phone from the UK and simply ask a lawyer to act for you. A Power of Attorney is required to do this. Because it is so difficult to arrange from the UK, it is far simpler to organise a Power of Attorney while you are still in Crete.

Don’t worry, this document still leaves you free to change your mind should you not wish to proceed with a property purchase. We will introduce you to an English speaking solicitor, who is a member of the Chania Legal Bar and independent from the company and we will accompany you to the Government Notary's office for the Power of Attorney. Currently the fee to the Notary is around 75€, payable directly on the day. NOTE if you prefer to find your own lawyer we will discount the house price by 500 euros, towards your legal costs.

Your lawyer will obtain a Greek tax number for you, open a bank account on your behalf - and, if you are not in Crete to sign the completed contract, will do so on your behalf. Please remember to bring with you to Crete, a utility bill proving you have a permanent UK address and a payslip, which the banks now require to open an account.

Your Snobby is secured by a 25% deposit, payable within 10 working days after receiving bank account details. This is supported by a Purchase Agreement - a legal quotation, confirming in detail, the house specification and guaranteed purchase price.

You can take comfort in knowing that Snobby are the only developer in Crete to legally secure purchasers' deposits - so your money is never at risk. No stage payments are required, unlike other builders, who prefer you to make advance payments to help their cashflow. Only with Snobby is your deposit protected, and totally safe and secure.

Don't forget, Snobby is the only builder to market an all-inclusive package. The large private, stone paved walled garden alone, would add thousands as an extra charge by other builders.

With Snobby you have no extra costs to pay in legal fees or taxes. You don't even have to budget for fittings and furniture - that's already included - and so too are the many luxury features other builders charge extra for - white goods - solar water heating - air conditioning - heating and a whole host of luxury features which go to make the Snobby all-inclusive package absolutely irresistible.

And once you’ve bought a Snobby, we’ll still be there for you. Should there be any minor snagging, or very rarely, something larger, then we’ll take care of it.

Drop in to the Information Centre at our Kolimbari office where we’ll help and point you in the right direction on any problem. We also provide a comprehensive property management service for Snobby owners, which caters for your every need to ensure happy, headache-free ownership.