To obtain a real estate loan
How do mortgages work in Germany?
You and I are afraid of mortgages. There are no official statistics, but realtors say that nine out of ten clients from Russia who are considering buying a house do not initially think about mortgages in Germany. Whether they do not trust the banks, or afraid to get into bondage. In vain! What is “Mortgage in Germany for Foreigners”?
MORTGAGE IN GERMANY FOR FOREIGNERS
Yes, they are giving out mortgages in Germany. And more and more actively. Annual growth in mortgage lending in the country is about 4%. In 2016, the volume of mortgages issued in Germany was €231.6 billion, a quarter more than in 2009. Germany is the largest mortgage market in the European Union after Great Britain; when Brexit ends, it will be the largest.
Mortgages in Germany are usually issued at a fixed interest rate, which is fixed for 5-10 years, and in rare cases for 15 years. Loans with floating interest rates are not popular in the country: they are in the total 1% (in the UK 72%, in Spain – 75%, says a report by Research Gate).
With us you will learn what a mortgage in Germany is and what you need for it. We are happy to tell you about all the risks as well as warn you about the pitfalls and advise you on how to go through the process from start to finish profitably.
our services
Opening an account
In order to obtain a mortgage, the bank asks for proof of equity from a European bank. We help the client to open an account with a European bank.
Documents for the bank
For banks to consider an application for a bank loan in Germany, the applicant must submit documents on the creditworthiness of the applicant.
Terms and conditions of the bank
Assistance in selecting more favorable credit conditions for the client. Early repayment of the loan. What is important for the client to consider when making mortgage decisions.
Contact with the bank
The interest rate and size of the loan depend on two factors. The first is your ability to pay, which will be evaluated by the submitted documents. The second is the condition of the property.
Gathering documentation for the facility
The bank is very important to know what object the client would like to finance, its technical condition, the expected repair work and the economic status of the object.
Interpreter organization
Since some banks require a certified interpreter when signing a loan agreement, we will provide you with one as soon as possible and help you with the translation of documents