We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Borrow against German property

Hello,
I have a property in Germany and live in the uk. 
Does anyone know if it’s possible to realise equity or borrow against this property from the UK?

Thanks 
Lee

Comments

  • SusieT
    SusieT Posts: 1,267 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I asked the same sort of question a while back when a friend (who lives in Germany) was wanting a loan. They discovered that it was not going to happen as to get a secured loan you need an entry in the German equivalent of the land registry, and UK banks are very unlikely to do this especially now that Brexit has happened which would make enforcement a lot harder if you did not pay.
    Credit card debt - NIL
    Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
    Mortgage 64,513/100,000 End Nov 2035
    2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036
  • I would expect it to be unlikely to find a UK lender to lend against a property in Germany, but I know of two friends who have both taken out mortgages in Germany against their German properties in order to buy properties in the UK. One was resident in GER, one is a UK resident. But the use of mortgage proceeds was limited to real estate.


    So maybe you can speak to some local banks in Germany if they allowed you to remortgage your prop in GER and use the funds in the UK?

  • macman
    macman Posts: 53,128 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Were those mortgages taken out before Brexit? I suspect that they were.
    No free lunch, and no free laptop ;)
Meet your Ambassadors

Categories

  • All Categories
  • 347.2K Banking & Borrowing
  • 251.6K Reduce Debt & Boost Income
  • 451.8K Spending & Discounts
  • 239.5K Work, Benefits & Business
  • 615.4K Mortgages, Homes & Bills
  • 175.1K Life & Family
  • 252.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.