Mortgages and EU Blue Cards
While EU Blue Card holders can get a mortgage, the two things are slightly incompatible; a mortgage is a long-term investment but an EU Blue Card is only valid for a maximum of 4 years. As a result, a lot of banks do not lend to EU Blue Card holders and those who do insist certain requirements are met.
If you want to get a mortgage as an EU Blue Card holder, a mortgage broker can be a great asset to you. Brokers like LoanLink, who are experts at helping foreigners, know which banks will lend to you and can help you get the best deal.
To secure a mortgage, you must be able to provide:
- Proof of solid income (due to the salary requirements needed to get an EU Blue Card, you will easily meet this requirement)
- Proof you can afford the mortgage down payment (as a temporary resident, banks could ask you to pay 40-50% of the property price yourself)
- Proof you can afford the additional property purchase costs (e.g. notary, estate agent and property inspection fees)
Banks also place a limit on the amount you can borrow. Your monthly net income (not including non-euro income) multiplied by 100 will be the maximum a bank will lend to you.
If you meet all of the requirements and qualify to borrow the amount you need, you can secure a mortgage.