Buying an apartment or a house and applying for a mortgage is a big step and
has serious consequences for your financial housekeeping. When looking for a
mortgage, you need take into consideration your current and future financial
position, your ambitions for the future and possible changes in your personal
circumstances. We choose the most appropriate mortgage together with you. We
then negotiate the interest rates, the repayment possibilities for mortgage
loans, and other lending conditions with various mortgage providers. The final
mortgage framework is comprised of: the desired monthly costs after tax, the
desired remaining mortgage burdens in case of death or long-term sickness or
inability to work and your risk profile, taking into consideration your savings
and investments.
Answers & Advice: Watch out for the
pitfalls - not all is gold that glitters! Use our expert help and professional
advice.
MORTGAGE LOAN
ENQUIRY
for non-resident foreign investors in Germany
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Apply for a mortgage bank loan applications for Berlin real
estate finance: Professional property investors say that if house prices
have already risen in an area, they've missed the boat - and the bargains - and
should move on to lower-priced locations. In which case, there must be an awful
lot of investors staring at Germany. Prices have fallen since 2000, while
across the whole of western Europe values have risen by an average 90 per cent
and those in Britain by 120 per cent. Germany still limps along at the bottom
of the Global Price Index, too, the latest results from which are revealed
exclusively in The Sunday Telegraph. Latvia tops the chart, with prices in the
capital, rising by 66·6 per cent in a year. 
It is followed by mortgage
applications - a new entry because reliable figures were not previously
available - and Denmark, up 33 per cent and 22 per cent, respectively. Both are
neighbours of Germany, yet there it sits at the bottom of the Global Price
Index, with prices actually falling by 3·2 per cent. This is despite
German mortgages and bank loan finance to buy Berlin apartments are the EU's
biggest economy and largest population, making it appear ripe for canny
investors. High-rolling investors can even buy whole blocks with a mortgage.
For £1·2 million, the price of an apartment in prime central
London, you can get 28 flats in a 100-year-old block in the Wedding suburb of
Berlin, albeit in need of extensive refurbishment. But there are changes
appearing in the market. House-building loan levels have dropped from western
Europe's highest to its lowest in seven years, some rent subsidies are being
phased out to encourage more people to buy, and competing mortgage products are
trying to woo investment buyers. Being at the foot of the table now is exactly
why investors should look at Germany. But they must select the right property
in the right city. The East is a no-go area because of continuing massive
over-supply and poor quality, but some cities in the West are expanding. The
most promising investment markets are in Hamburg, Berlin, Dusseldorf,
Frankfurt, Stuttgart and Munich. A few pioneering British investors have
already taken the mortgage. London civil servant Simon Luker has bought a small
Berlin studio apartment in a modernised period block in the suburb of Neukoelln
for only £21,000. "I've been looking to invest overseas for some time,"
he says, "and was surprised to learn German property was considerably lower
than even Riga or Prague." Berlin has a superb infrastructure and is almost
tailor-made for buy-to-let," Ray explains. "Our investment is long-term, as
German law dictates that any property sold within 10 years attracts 25 per cent
capital gains tax. Berlin is an attractive rental market that isn't based on
seasons or low-cost airlines getting routed." Estate agents are now beginning
to sell properties to foreigners buying German real estate with a mortgage or
bank finance. Apply for a mortgage bank loan applications for Berlin real
estate finance. |
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