Hi,
I have spoke to some internation mortgage advisors and they said i would get a mortgage in Germany for under 1 million Euro. This sounds like rubbish to me.They said the German banks arent keen on lending anything less to outsiders. Can some people offer there thoughts..
Full Version: Mortgages In Germany
You can get mortgages as an outsider but be prepared that it will take a long time. In Berlin 80% mortgages are the maximum and elsewhere in the former east it is 50-60%. They will take a good look at your current earnings, the rental object comes second.
German banks will normally only lend to German residents in full employment. However, there is also a different category of loan with 50-60% LTV where the earnings of the borrower do not count. However, most banks will only do these loans from 1m Euro or above.
QUOTE(Bubble Pricker @ Jan 23 2007, 11:49 PM) [snapback]534294[/snapback]
German banks will normally only lend to German residents in full employment. However, there is also a different category of loan with 50-60% LTV where the earnings of the borrower do not count. However, most banks will only do these loans from 1m Euro or above.
C'mon guys, don't post stuff if you're not sure about the facts. There's absolutely no problem of getting a mortgage in Germany as a non resident (you don't even need to be EU national, any foreigners can get a loan). All loans are full status, as in most of Europe anyways, meaning you must provide proof of income (tax returns or P60s for the last 3 years). The minimum loan for foreigners is generally 50,000 Euro!! LTV for single flats usually 60% but 70% is sometimes possible. For blocks it depends on the current yield and one can get 50-80%, though a high yield and great condition of property is a must for the higher LTVs.
I have gotten loans in Germany (as a self employed foreigner, non resident!) and know many others who did. Both employed and self employed. Although many german banks do offer a bit of better conditions to employed people. Obviously there are also a few banks who aren't keen on smaller business under 1+ mil, but many do. As said, min is 50k euro.
QUOTE (prop77 @ Jan 25 2007, 01:26 AM) 
C'mon guys, don't post stuff if you're not sure about the facts. There's absolutely no problem of getting a mortgage in Germany as a non resident (you don't even need to be EU national, any foreigners can get a loan). All loans are full status, as in most of Europe anyways, meaning you must provide proof of income (tax returns or P60s for the last 3 years). The minimum loan for foreigners is generally 50,000 Euro!! LTV for single flats usually 60% but 70% is sometimes possible. For blocks it depends on the current yield and one can get 50-80%, though a high yield and great condition of property is a must for the higher LTVs.
I have gotten loans in Germany (as a self employed foreigner, non resident!) and know many others who did. Both employed and self employed. Although many german banks do offer a bit of better conditions to employed people. Obviously there are also a few banks who aren't keen on smaller business under 1+ mil, but many do. As said, min is 50k euro.
I have gotten loans in Germany (as a self employed foreigner, non resident!) and know many others who did. Both employed and self employed. Although many german banks do offer a bit of better conditions to employed people. Obviously there are also a few banks who aren't keen on smaller business under 1+ mil, but many do. As said, min is 50k euro.
Hi,
Can you provide me with some further details, bank name, web address etc? I am non-resident self-employed, I tried interhyp but wasn't successful.
Thanks.
Panos
I'd also be interested to know more about these mortgage lenders.
I almost got a mortgage with a bank on these kinds of terms a few years back, but found them generally reluctant (and also found the whole process incredibly slow - so much so i lost the property I wanted to buy)...
I am self-employed, now been in Germany 3 years, tax resident here.
Thanks.
I almost got a mortgage with a bank on these kinds of terms a few years back, but found them generally reluctant (and also found the whole process incredibly slow - so much so i lost the property I wanted to buy)...
I am self-employed, now been in Germany 3 years, tax resident here.
Thanks.
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