Answer to question number 6

In 2015, mortgage financing conditions at German banks are more favorable than ever! Average mortgage rates have reached a possible minimum (around 2-4% per annum depending on the bank and financing conditions). For foreign nationals need to have their own capital of about 50% of the value of the property and the cost of registration of the transaction of sale

Moreover, experts from leading German banks agree that around the end of 2016 will begin to increase mortgage rates.
We offer non-residents (foreign citizens) the possibility of obtaining a mortgage loan at German banks on favorable terms. Each case is considered by independent experts on an individual basis and the most suitable lending terms are selected.

It is possible to obtain a loan with various terms and conditions for a period of about 5 to 30 years with various terms of “binding interest rate” (Zinsbindung) of about 1 to 10 years.

The property can be rented out or free of lease, renovated or in need of renovation.

For commercial properties, you can get a loan only if the object is rented to a reliable tenant. Commercial sites for their own business by German banks is practically not funded.

For banks to consider the application for a loan applicant must submit the following documents:

A copy of your passport (in some cases a residence permit in Germany or other EU countries);
Completed application form (Selbstauskunft);
Proof of own funds;
Proof of stable income.
Individuals – reference from workplace, monthly salary calculations (from 2 months to 1 year depending on the bank), recent tax returns.
Entrepreneurs and private entrepreneurs – tax declarations (for the last 3-4 years depending on the bank).
Data on monthly expenses (other loans, rent, utilities, alimony, etc.)
Documents about the property (provided by broker or property owner):
an estimate of living space,
Current land registry extract (not older than 6 weeks),
insurance policy for the building,
photos of the property,
An estimate of the rental income or rent,
Rental or ploughshare agreement, including appendices and addendices,
housing regulations.

 Scheme of financing through our company:

First, our company submits a preliminary request to the German banks on the possibility of financing the client’s chosen property. At this stage only basic information about the applicant and the property is needed, without the provision of supporting documents. Within 2-7 days we get a preliminary answer.
If the preliminary answer is affirmative, the client makes an advance payment of 500 Euros for the interim reservation and removal of the property from the sales market, while the property is being considered for financing. In the case of a purchase, this amount will be included in the total amount of brokerage fees.
Client provides all necessary documents, which together with the documents and information about the property will be sent to German banks. !!! On all related issues the client consults Russian-speaking professional financier. If you have a full package of documents consideration of the application takes an average of 10-14 working days
If the bank decides positively, a contract of financing is signed with the bank, which requires the personal presence of the applicant.
The client contributes the remainder of the prepayment for the final reservation of property and execution of the contract of sale.
At the German notary the sales contract with mortgage encumbrance is signed.
The rest of the procedure for registration of the sale – the standard.