UK expat mortgage for buying a German property

[kai]

Hello,

I'm trying to get an UK expat mortgage for buying a German property and as hard as I have looked, all the UK and offshore companies I have contacted can't offer me one because, it's Germany. I don't want to go through a German Bank either.

Anyone know different? I mean, how hard can it be to get such a thing?

Cheers

 

[ronald]

Hello Kai,

Why do you want a mortgage in pounds when buying a property in Euros?

And what is wrong with German banks that you won't go to them.

Many Thanks

 

[kai]

Hello
Firstly, I would like a mortgage in Euro's
Secondly, I have not long been here and I am self employed. That means I have to make a down payment of 40% as opposed 10% for offshore and being regularly employed in Germany. As a self employed person in Germany, I must also have to submit two years accounts, which all in all makes it impossible.

If it were so simple through the bank and I could prove two years of income, which I can't, I would have one by now.

So, do you know any information about UK Ex-Pat offshore Euro mortgages for property in Germany for the recently self employed?
See you again

 

[ronald]

Hey,
That?s a tougher one, you are correct German banks don't know how to handle anything out of the ordinary.

Suppose you could ask at toytownmunich.com if they can't help you no one can.
Many Thanks

 

[Robert Gavin]

I am thinking about germany, can anyone tell me what LTV mortgages are available for non residents?

 

[infoberlin]

mortages Germany

if you need a mortgage, contact me.

I might be able to help.
thanks
infoberlin.org

 

[OFS Spain]

The company we use have recently reformatted their mortgage, unbeknown to us, and no longer offer their product to people investing in Germany or anywhere in Europe except the UK and Spain... I apologise for any inconvenience.

 

[Andrew - Alpha]

Mortgage LTV

Hi,

With a good broker you should be able to get 60 to 70% for single apartments. For apartment blocks it is dependant on the yield

5/5.5%=apx 50%
5.5/6%=apx 60%
6%+ upto 70/75% (rising from 60)

Of Course this is dependant on status.

One thing to watch out for is mortgage brokers who don't charge commission. Sounds like one of them has sold me the line but its certainly worth taking on board.

Brokers who charge commission will (should) go to many banks and shop around for the best deal. Ones who don't will generally be tied to one or maybe two banks and you may therefore get a significantly worse deal (or none at all). Levels of commission are a totally different subject though

If you want to know the details of the firm we work with simply give me a shout,

Kind regards,

Andrew Stanley
Alpha Real Estate Investments

 

[kevoconn]

Hi Andrew, could you mail me the details too. I have spoken too a lot of German banks but they just dont want to know.
Ta!