The Finance Department is headed by Gabor Vitanyi, he has over 4 years experience in the Hungarian banking and financing sector. Gabor is contracted with OTP, Raiffeisen, CIB, Aegon, K & H and Erste banks. He will be able to assist you in gaining financing using your first property, existing real estate to either achieve a 100% LTV on subsequent property investment or refinancing your current property.
Regarding the loan-to-value (LTV) ratio this offer is the best on the Hungarian market for foreigners.
- As the offer is a so called low-documentation loan, no income statements/information are needed thereafter the application process is as simple as possible and as fast as possible.
- In case of foreign individuals this offer has the lowest fees and costs.
- The mortgage can be paid back anytime without huge penalties, only a one time fee of € 250 or 1,5% of the loan amount has to be paid depending on the bank.
The following documents are required for the submission of the loan application:
For personal identification
- Personal identity document (Passport), an official document certifying personal identity number/residential address (Drivers Licence) unless these are contained in the personal identity document
- Utility bill no older than 3 months
- Another certificate with photo
- Passport
- Tax ID card or National Insurance Card (Hungarian and/or foreign)
No income check required
List of documents requested by the Bank
Unrestricted use
- Power of Attorney authorisation to arrange the loan on costumer’s behalf
- Certified Ownership Certificate of current status of the property no older than 15 days
- Bank application form
- Current map of the property in the case single dwelling/ house or plot of land
- Personal bank account in Hungary
- Property Insurance Policy
Property purchase
As above but with the addition of:
- Purchase Agreement /Sales agreement registered and approved of by the Land Registry Office(including mailing address)
- Certified Ownership Certificate of current pre-registration status of the property no older than 15 days
- Agreement of Deposit with Solicitor Escrow Account
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Residential Mortgages for Hungary
What is covered?
- Purchase of houses, apartments and freehold land are available for individuals.
- Unrestricted use
- Refinancing
Loan to Value:
- 50% - 80% of the market value (in some cases it can be 100%)
Maximum Loan Amount:
Interest Rates:
- Euro: 8.7% -9.7% (including bank administration fee)
- Swiss Franc: 5.5% - 8.2% (including bank administration fee)
Maximum Term & Age Limit:
- 25 - 35 years (not more than 68 years old at maturity)
Currencies Available:
- Euro, Swiss Franc or Hungarian Forint
Prepayment Penalty:
- € 250 or 1,5% of the amount of the current loan depending on bank
Total Loan Index (A.P.R.)
General fees to consider
Submission of documents
- Ganesha Global loan arrangement fee € 200 + V.A.T. (non-refundable)
- Valuation expert for property appraisal € 120 / property
- Ownership Certificate € 18 / property
- Current map of the property in case € 12 / property single dwelling/ house or plot of land
Payment structure for loan arrangement
- Ganesha Global success fee € 1000 + V.A.T. or 1.2% of the financed amount whichever is greater
- Notary fee according to the amount of the loan € 200 - € 600
- Interpreter € 150 - € 200
- Registration fee for Land Registry Office € 50/ property
- Bank administration fee 1.5 % - 3 %
- Property insurance from € 8 / month
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Ganesha Global Kft. (Budapest, Hungary)
Tel.: +36 (1) 219 5505
Fax: +36 (1) 219 5504
Tel. U.K.: +44 (0)20 7870 2351
Email: info@ganeshaglobal.eu
Web Site: www.ganeshaglobal.eu
IMPORTANT: Rates are subject to change and the information above is only for guidance. Please contact a representative for up-to-date advice. |
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