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Chile – Property Financing

Banks and Lenders that Issue Mortgages to Foreign Nationals in Chile

  • Some local banks and lenders in Chile do issue mortgages to foreign nationals. However, the requirements and terms for these mortgages may be different from those for Chilean citizens and permanent residents.

  • Some local banks and lenders that provide mortgages to foreign nationals in Chile include:

Deposit Required for Buying a Property in Chile

  • The deposit required for buying a property in Chile can vary depending on the type of mortgage and the lender’s requirements. However, typically, buyers are required to have a minimum of 20% of the purchase price as a down payment.

  • It’s important to note that having a larger down payment will generally result in more favorable mortgage terms and rates.

Responsibility for Outstanding Debts on a Property in Chile

  • As a new property owner in Chile, you are not responsible for any outstanding debts on the property prior to your purchase. The previous owner is responsible for paying off any debts or liens on the property before the sale is completed.

  • However, it’s important to note that if there are any outstanding debts on the property, they will become your responsibility if they are not paid off before the sale is completed. It’s important to have a proper title search done before purchasing a property to ensure that there are no outstanding debts or liens on the property.

It’s important to note that laws and regulations regarding mortgages, deposit requirements and outstanding debts may vary depending on the location within Chile and it’s best to seek legal and professional advice before proceeding with any property purchase.

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