International Mortgage News

Mortgages for German Property (Foreign Nationals)

Arranging mortgages in Germany has always been an issue for International Mortgage Brokers like myself. Foreign nationals can buy property for cash with no problems, but there was one issue in German property law that has always made things complicated for foreign buyers:

You have to have an address in Germany where all letters, statements and documentation relating to a mortgage can be sent. The German banks require this, because it is to this address that they will come to if there are any late or non payments on the mortgage.

Clearly not an issue if you are living in the country, but it makes it very difficult if you are a foreign buyer, purchasing for investment purposes.

I’m now working with a firm of brokers who seem to have cracked this problem and are working with most of the German banks.

We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in Germany, already found your new property, or currently have a mortgage on your German home and wish to save money, we may be able to help.

Want to find out more information, please feel free to contact me via my website:  www.international-mortgage-broker.com

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.