Mortgages for Foreign Nationals in Hungary
In Hungary, it is possible for foreign nationals to obtain a mortgage from local banks and other lenders. However, the process can be more complicated than for Hungarian citizens, as lenders may require additional documentation and may have stricter lending criteria. Some banks may also require the applicant to have a local guarantor.
Local Lenders in Hungary
There are several local banks and lenders that provide mortgages to foreign nationals in Hungary, including:
- OTP Bank: One of the largest banks in Hungary, OTP Bank offers a variety of mortgages for both Hungarian citizens and foreign nationals. They have a range of options for different types of properties, including owner-occupied and investment properties. https://www.otpbank.hu/en/private-customers/loans-and-credits/mortgage-loans
- MKB Bank: MKB Bank is another large Hungarian bank that offers mortgages to foreign nationals. They have a range of different options to suit different needs and budgets, and their website is available in English. https://www.mkb.hu/en/personal/loans/mortgage-loans
- Raiffeisen Bank: Raiffeisen Bank is another bank that offers mortgages to foreign nationals in Hungary. They have a range of options for different types of properties and different lending needs, and their website is available in English. https://www.raiffeisen.hu/en/personal/loans/mortgage-loans
Deposit Requirements inHungary?
The amount of deposit required when buying a property in Hungary can vary depending on the lender and the type of property. However, it is typically around 20-30% of the purchase price.
Outstanding Debts in Hungary
In Hungary, the new property owner is responsible for any outstanding debts on the property at the time of purchase. This includes any outstanding mortgages, taxes, or utility bills. It is important to check for any outstanding debts before making an offer on a property, as these will need to be paid by the new owner before the property can be transferred into their name.