Getting a mortgage in Berlin
Many people purchasing property in Berlin will look to finance their purchases partly with a German mortgage!
Don’t want to use all of your own Money & need a German mortgage:
Here at Berlin Property.co.uk we can provide you with the best contacts. We have a great selection of banks with choices that can be tailored to your needs. It is possible to borrow up to 50% of the purchase price or 60% of the collateral value. Occasionally higher LTV is offered but is discussed on a case by case basis, more recently though with the credit crunch, it would be reasonable to suggest a loan value of 50% as being achievable. Mortgages in Germany are usually given to people up until the age of 65. The criteria for getting a mortgage in Germany, which is the second largest mortgage market in Europe, is very similar to how it would work in most other European countries. Mortgages are granted and based one’s affordability and security. Many investors will want to fix their mortgages for many year, which in Germany is seen as common practise, and you able to do so for the entire period of the loan if you wish (typically 15-20yrs).
European mortgage rates are much lower than that of the UK.
Typical Rate: 5.2%
Repayment Method: Capital & Interest
Here is an example of Mortgage costs based on a 50% Deposit being put down & the remainder 50% mortgage, with a rate of 5.2%.
Mortgage Amount (€) Monthly Repayment (€) Monthly Repayment (€)
Over 10 Years Over 20 Years
30,000 321 201
40,000 428 268
50,000 535 335
60,000 642 402
70,000 749 469
80,000 856 536
90,000 963 603
100,000 1070 671
You should also consider using equity that is in your property for the initial deposit. This keeps any cash reserves and makes excellent use of the gains seen on most UK & Irish properties in recent years.
The process is very simple and we will personally introduce you to a bilingual representative of the bank or financial institution.
Contact us at firstname.lastname@example.org for further details on mortgages in Berlin.
Transferring you Deposit:
When transferring your money for purchase of a property to Berlin, it is advisable when dealing in foreign currency to use a foreign currency broker, see our Foreign currency page for further details.