Mortgage for property in Germany - advice/broker recs?
ruintooeasy
Posts: 92 Forumite
We've found a house in Germany that we would like to buy and are ready to move forward.
Does anyone have any experience of buying in Germany? I have spoken with a broker who informed me that I cannot get a German mortgage because my salary is not paid in Euros, and that UK banks no longer provide mortgages for property abroad since the 2008 crash and then said Brexit was to blame and then went on to say it is possible for other countries such as France and Spain. I'm a little confused!
Can anyone recommend a specialist broker who would know?
I have Googled a lot but not found anything concrete. Several sites say it is possible to get a German mortgage up to 70% of the property value, which contradicts what I was told. I also read something that says if a UK lender has branches/offices in the country of the property then a UK mortgage is possible.
TIA.
Does anyone have any experience of buying in Germany? I have spoken with a broker who informed me that I cannot get a German mortgage because my salary is not paid in Euros, and that UK banks no longer provide mortgages for property abroad since the 2008 crash and then said Brexit was to blame and then went on to say it is possible for other countries such as France and Spain. I'm a little confused!
Can anyone recommend a specialist broker who would know?
I have Googled a lot but not found anything concrete. Several sites say it is possible to get a German mortgage up to 70% of the property value, which contradicts what I was told. I also read something that says if a UK lender has branches/offices in the country of the property then a UK mortgage is possible.
TIA.
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Comments
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We have a contact that we use for these on a referral basis.
A standard broker wouldn't be able to do itI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
haras_nosirrah wrote: »We have a contact that we use for these on a referral basis.
A standard broker wouldn't be able to do it
Thank you for your reply. Does that mean you charge for such info, or it is only available for your clients?0 -
ruintooeasy wrote: »Thank you for your reply. Does that mean you charge for such info, or it is only available for your clients?0
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Do you have a UK property that could be remortgaged to finance the transaction?0
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OP, nothing stops you from (say) PMing haras_nosirrah and taking it from there as a prospective customer.haras_nosirrah wrote: »We have a contact that we use for these on a referral basis.
A standard broker wouldn't be able to do it0 -
Not allowed to approach people on here as per the mse code of conduct but if you would like me to refer you to them then feel free to pm me. No charge.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Just thought I would update this in case anyone else has a similar query.
It is possible for foreigners to get a German mortgage, however they will only lend up to 60% of the property price and they will only lend €100k and above.
It does not seem to be an option to get a UK mortgage for a German property.0 -
ruintooeasy wrote: »
It does not seem to be an option to get a UK mortgage for a German property.
Too costly to be worth the trouble for mainstream lenders. Likewise lending margins are too thin.0
This discussion has been closed.
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