Potential obstacles for expats in Germany
Expats in Germany can get a mortgage, but there are some aspects of the German system that can cause a few difficulties. Here are four obstacles you could face when trying to get a mortgage.
The requirements in Germany
Can an EU Blue Card holder get a mortgage in Germany? The simple answer is yes; you are able to secure a mortgage if you meet the specific requirements.
Find out how much you can borrow
As an expat in Germany there is no restriction on your right to purchase property. For a mortgage, non-residents can generally borrow up to 55-60% of the property value. Official residents in Germany can borrow up to 80%.
An introduction for newcomers
Since the fall of the wall almost 30 years ago, Berlin has grown to be one of the top destinations for people to live and work in. Naturally, this also affects the local property market, slowly changing the capital from a ‘rent only’ location into an attractive place for buying property.