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Germany – Property Financing

Mortgages for Foreign Nationals in Germany

Local banks in Germany do issue mortgages to foreign nationals, however, the requirements and conditions may vary depending on the bank and the borrower’s individual circumstances.

Local Lenders in Germany

Some of the major banks that provide mortgages to foreign nationals in Germany include:

  • Deutsche Bank
  • Commerzbank
  • DKB
  • Postbank
  • HypoVereinsbank
  • Sparkasse
  • NordLB
  • Landesbank Baden-Württemberg

These banks have English-language websites and may have dedicated teams or specialists to assist foreign nationals with the mortgage application process.

Deposit Requirements in Germany

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The deposit required when buying a property in Germany can vary depending on the lender and the borrower’s individual circumstances. Typically, a deposit of around 10-20% of the purchase price is required. However, it’s important to note that some lenders may require a higher deposit or may have different lending criteria for foreign nationals.

Outstanding Debts in Germany

In Germany, the new property owner is not responsible for outstanding debts on the property unless the debts were incurred after the sale and purchase agreement was signed. It is important to conduct a thorough search of the property’s debts and liens before signing the agreement and to ensure that the property is free of any outstanding debts.

It’s also worth noting that it’s recommended to use a lawyer when buying a property in Germany to help ensure that everything is in order and to advise on any potential issues.

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